AI-generated phishing emails. Deepfake impersonations. Fake vendors with real payment instructions. The future of payment fraud has arrived—and it’s already hitting treasury teams hard.
In today’s evolving threat landscape, many companies are leaning on AI to solve their fraud problems. But AI is a double-edged sword: it powers the very scams companies are trying to prevent. So how should treasury leaders separate hype from reality – and build defenses that actually work?
Our latest white paper, Beyond the AI Hype: Strengthening Treasury Against Fraud Risks, tackles this question head-on. Crafted in partnership with Actualize Consulting, and enriched with insights from Rob Granger, Senior Manager, Actualize Consulting, and Simon Elcham, CTO, Trustpair, this resource offers a practical framework to strengthen treasury defenses in the AI era. Learn what AI can and can’t do, and uncover proven strategies to secure payment processes and reinforce internal controls.
The evolving landscape of treasury fraud
The rise of Generative AI is fueling a new era of cyber threats, one that treasury teams can no longer afford to ignore. With the ability to produce ultra-realistic content at scale, fraudsters are now using Gen-AI to craft targeted, believable scams that easily bypass traditional security controls. And the impact is already being felt across Corporate America.
According to Trustpair’s 2025 US Fraud Study,
- 90% of finance professionals reported being targeted by at least one cyber fraud attempt in the past year
- 47% experienced financial losses, with many incidents exceeding $10 million
- There was a +118% YoY increase in Gen-AI tools such as deepfake audio or video
Here are some of the most alarming trends:
- AI-Generated phishing: Cybercriminals are leveraging large language models to send highly personalized phishing emails that mimic internal communications, making them harder to detect and more effective than ever before.
- Deepfake executives: Using Gen-AI voice and video tools, scammers impersonate CFOs and CEOs to initiate fraudulent wire transfers, often exploiting the urgency and remote nature of modern work.
- Fake vendors: Fraudsters build legitimate-looking vendor profiles with fabricated onboarding documents and bank account data, slipping past manual controls and ERPs that lack real-time validation.
Limitations of AI in Fraud Prevention
While AI can enhance detection capabilities, it has its constraints:
- False positives: AI-driven systems often flag legitimate transactions as suspicious, overwhelming teams with unnecessary alerts.
- Adaptability of fraudsters: As AI tools evolve, so do the methods employed by fraudsters, often outpacing defensive technologies.
- Lack of contextual understanding: AI may miss nuanced fraudulent activities that require human judgment.
Strategic Pillars for Effective Fraud Defense
To build a resilient treasury system, organizations should focus on:
- Structured data management: Ensure data integrity across all platforms to prevent unauthorized access and manipulation.
- Strong internal controls: Implement multi-tiered approval processes and regular audits to detect anomalies.
- Real-time validation: Utilize tools that offer instant verification of transactions, reducing the window for fraudulent activities.
Preparing Treasury for the AI Shift
As AI reshapes the threat landscape, the strongest defense isn’t more tech—it’s better fundamentals. Before layering AI into security processes, treasury teams must double down on the basics: clean financial data, reliable verification tools, and strong internal controls.
Disorganized payment data is a goldmine for fraudsters. Centralizing and securing records in an ERP or TMS reduces gaps that cybercriminals exploit. But structure alone isn’t enough. AI-powered scams—like deepfake impersonations and hyper-realistic phishing—are designed to outsmart automated systems. That’s why over-relying on AI can backfire, creating false confidence while real threats go undetected.
The smarter path? Build a security-first culture. Establish clear internal guidelines for AI use, and keep human oversight at the core of fraud prevention. Real-time bank account ownership verification and strict approval workflows remain essential safeguards in the AI age.
