‘They are another reminder of criminal activity designed…

NatWest chief executive Paul Thwaite has become the latest high-profile banking figure to be targeted by a fraudulent deepfake image circulating on social media. The incident, which surfaced in July 2026, highlights the growing trend of using synthetic media to facilitate financial fraud and deceive the public.

What happened

The deepfake image depicted Paul Thwaite alongside journalist Emily Maitlis, appearing to imitate a legitimate BBC radio interview. The content was shared widely on the social media platform X, accompanied by a caption falsely claiming that Maitlis had raised questions regarding the CEO’s salary during a broadcast. This manufactured context was intended to give the image a veneer of legitimacy, referencing Thwaite's recent 33% pay increase and his total package of £6.6 million.

A spokesperson for NatWest confirmed the bank is actively working with social media platforms to identify and remove these deceptive images. The incident is part of a broader surge in synthetic media threats targeting the financial sector, where criminals utilize deepfake images, videos, and voice recreations to conduct investment scams or trick individuals into compromising financial information. This follows a similar incident involving Bank of England governor Andrew Bailey, who was featured in a manipulated video engaging in a physical altercation. Industry reports, such as Vyntra’s 2026 analysis, suggest the deepfake landscape has evolved into a massive, multi-billion dollar criminal enterprise, driven by advancements in computing power that allow for the generation of convincing content at scale. Banking officials continue to urge the public to remain vigilant, report suspicious activity, and verify information independently to combat what they describe as an online scourge.