"It's possible that there are current losses from deepfakes that companies haven't even uncovered yet," said David Ledet, counsel in Reed Smith's Insurance Recovery Group. "I think we still don't know how widespread deepfakes can grow to be or how severe the losses might be." (Credit: TensorSpark/Adobe Stock)

Deepfakes are becoming more sophisticated as artificial intelligence (AI) enhances fraudsters' abilities to hoodwink employees. These virtual recreations can mimic voices and personas on voicemails and video calls, convincing employees – even those with cybersecurity training – to hand over data, VPN access or funds.

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Ashley Hattle-Cleminshaw

Ashley Hattle-Cleminshaw serves as ALM's PropertyCasualty360 Senior Editor. She brings 10 years of experience in journalism and communications to the editorial team. Reach her by sending an e-mail to [email protected].