{"id":225259,"date":"2026-06-03T11:18:00","date_gmt":"2026-06-03T15:18:00","guid":{"rendered":"https:\/\/testing.news-you-need.com\/index.php\/2026\/06\/03\/ai-deepfakes-are-a-growing-threat-to-financial-advisors\/"},"modified":"2026-06-03T11:30:10","modified_gmt":"2026-06-03T15:30:10","slug":"ai-deepfakes-are-a-growing-threat-to-financial-advisors","status":"publish","type":"post","link":"https:\/\/testing.news-you-need.com\/index.php\/2026\/06\/03\/ai-deepfakes-are-a-growing-threat-to-financial-advisors\/","title":{"rendered":"AI Deepfakes Are a Growing Threat to Financial Advisors"},"content":{"rendered":"

AI Deepfakes Are a Growing Threat to Financial Advisors<\/a><\/p>\n

https:\/\/www.wealthmanagement.com\/financial-cybersecurity\/ai-deepfakes-pose-growing-threat-to-advisors<\/a><\/p>\n

Publish Date: 2026-06-03 11:18:00<\/a><\/p>\n

Source Domain: www.wealthmanagement.com<\/a><\/p>\n

Author: <\/a><\/p>\n

Using an unordered list, summarize the following article with between 4 and 8 key points. On a set of large screens on both sides of the stage set for a panel discussion at the BNY INSITE Conference, in Aurora, Colo., Paul Caulfield, the chief compliance officer for Insigneo Advisors, appeared and addressed the audience.\u00a0He began by saying he was not Paul Caulfield.\u201cI am a synthetic version of him. I\u2019m here today to explain that all is indeed not what it seems. Consider this. Consider that I was a synthetic representation of your own high-net-worth client,\u201d the face said. \u201cBetter yet, consider that I was a synthetic representation of an ultra-high-net-worth prospect, someone you do not know well enough. How would you react? Would this seem convincing?\u201dOnstage, the real Paul Caufield told audience members he\u2019d made the video in about 15 minutes spread over a day, and he showed it as an example of how easily artificial intelligence can be used to defraud seasoned financial advisors.Related:Cybersecurity Is a Governance IssueCaulfield was joined by Jeff Pollack, the interim global lead for identity and access management at BNY, and Keith Lanton, the president of the New York-based firm Herold & Lantern Investments, who detailed his firm\u2019s experience with a cyberattack earlier this year.While Lanton said the firm was lucky that hackers were not after personally identifiable information and that they were not successful in their goal, he said he quickly \u201cgot religion\u201d to make sure the firm\u2019s defenses were more robust than before, as bad actors\u2019 skill and technical tools were only bound to get better.\u201cIf you think about the fog of war and what\u2019s going on, we didn\u2019t know that we shut them down when we shut them down. We didn\u2019t know the damage had been limited,\u201d Lanton said. \u201cSo I say to each of you in this room, think about what your policies and procedures are. Think about what you would do if suddenly you discovered that something was infiltrated that you didn\u2019t know could be infiltrated\u2014and what you would do about it.\u201dWhile financial services firms are increasingly using AI tools in cyber protection, hackers are using the same tools to achieve greater cybercriminal success with less time and expense.\u00a0According to Cyber Magazine, Moody\u2019s warned financial institutions that frontier AI is increasing threats to their businesses, finding that the gap between cyber attacks and the response from victims is widening, and that tools like Anthropic\u2019s Mythos will make the \u201cmagnitude and sophistication of attacks\u201d likely to increase.According to Caulfield, many of the biggest recent cyber breaches didn\u2019t concern client funds, but focused on PII and other data, with \u201cterabytes of personal information\u201d exposed for hackers to sell or use.\u00a0Related:LPL Claims Hackers Accessed Client Accounts Through Advisors\u2019 DevicesIn recent months, financial firms including LPL Financial, Cetera, Ameriprise, Hightower, Edelman Financial Engines, Beacon Pointe Advisors and Mariner have disclosed data breaches to regulators (or been accused in class-action lawsuits of failing to protect clients\u2019 personal data).Lanton noted that in the three decades since he started the firm, the kind of data a firm like his had become far more valuable, and that hackers have known ways to steal it and target clients with it (even using the information in such a way that the theft could never be tracked back to the firm itself). Over time, smaller and mid-sized firms like Lanton\u2019s became attractive targets.\u201cPaul started this out with that video. In order to generate something of that capability, just a few years ago required a tremendous expense, and you wouldn\u2019t utilize that expense unless you were going after a very large benefit,\u201d he said. \u201cToday, because of the advent of tools and technology, you can target, very cheaply, a lot of smaller firms, and there\u2019s a lot better payoff.\u201dFor Bob Coppola, the chief technology officer for Sanctuary Wealth, AI-enabled threats were \u201cfrightening.\u201d In an earlier panel at INSITE, he warned that cumbersome older threats no longer existed, with phishing increasingly easy to confuse people (and at scale).Related:In Betterment\u2019s Recent Social Engineering Incident, a Reminder To Be Cyber PreparedWhen faced with technology that can fake a client\u2019s voice and face, Caulfield suggested that advisors and clients use a kind of \u201chuman PIN code,\u201d such as a private word or phrase the two could share if something in a conversation feels off.\u00a0For Caulfield, firms need to be able to answer five questions when assessing their preparedness for a cyber incident. First, they need to know who they can or will call in the event of a breach (whether it\u2019s internal or to a cybersecurity provider). Reps must also be able to describe what happened to a subject matter expert, including how bad it is. Firms also need to know when they can recover (or even if they can) from the incident.\u201cAnd then, number five, how do we not have it happen again?\u201d he said. \u201cOr, how do we make sure that if it happens again, it\u2019s not as painful?\u201d
<\/p>\n","protected":false},"excerpt":{"rendered":"

AI Deepfakes Are a Growing Threat to Financial Advisors https:\/\/www.wealthmanagement.com\/financial-cybersecurity\/ai-deepfakes-pose-growing-threat-to-advisors Publish Date: 2026-06-03 11:18:00 Source…<\/p>\n","protected":false},"author":1,"featured_media":225260,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/eu-images.contentstack.com\/v3\/assets\/bltabaa95ef14172c61\/blt6a688bec1459fc8e\/6a2045132928e1be8e7b3c2e\/insite-cybersecurity-panel.jpg?disable=upscale&width=1200&height=630&fit=crop","fifu_image_alt":"","footnotes":""},"categories":[15],"tags":[26,20,30,24,25],"class_list":["post-225259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cybersecurity","tag-ai","tag-artificial-intelligence","tag-breach","tag-cybersecurity","tag-phishing"],"_links":{"self":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/225259"}],"collection":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/comments?post=225259"}],"version-history":[{"count":1,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/225259\/revisions"}],"predecessor-version":[{"id":225261,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/225259\/revisions\/225261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/media\/225260"}],"wp:attachment":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/media?parent=225259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/categories?post=225259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/tags?post=225259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}