Key facts
- Natwest CEO Paul Thwaite was featured in an AI-generated deepfake image on social media.
- The deepfake depicted Thwaite in a fabricated BBC radio interview alongside journalist Emily Maitlis.
- The image was shared across multiple accounts on the platform X.
- Bank of England Governor Andrew Bailey has also been a target of similar AI scams.
- The UK's Online Safety Act is expected to address deepfake media, but its measures are not yet active.
- Ofcom is investigating X over its AI chatbot's role in generating explicit deepfakes.
Natwest chief executive Paul Thwaite has become the latest prominent figure in the City of London to be targeted by an AI-driven social media scam. A deepfake image depicting Thwaite alongside journalist Emily Maitlis in a fabricated BBC radio interview was shared across multiple accounts on X.
The image was accompanied by captions suggesting a discussion about Thwaite's salary, which last year amounted to £6.6 million, a 33% increase from 2024. Natwest was approached for comment regarding the incident.
This latest scam follows similar incidents, including one involving Bank of England Governor Andrew Bailey, who was depicted in a deepfake video alongside Reform UK leader Nigel Farage. Bailey has publicly condemned such scams, urging vigilance and reporting of fraudulent content.
Farage also commented on the "bizarre AI videos," noting that while he and Bailey have disagreements, he would "never take it that far."
The UK's Online Safety Act includes provisions intended to combat the spread of deepfake media by requiring tech platforms to address fraudulent advertising. However, these measures are not yet in effect, with enforcement expected next year.
In parallel, the UK's media regulator, Ofcom, has launched an investigation into Elon Musk's X platform. The probe aims to determine if X has adequately protected users from explicit deepfakes generated by its Grok AI chatbot. If found in violation of media law, X could face significant fines.