As artificial intelligence (AI) tools become more sophisticated and accessible, cybercriminals are increasingly weaponising them to carry out highly targeted attacks. Accounting firms, with their access to sensitive financial data and broad client networks, have emerged as prime targets for these AI-enhanced scams.

In his recent webinar, AI Assisted Cyberattacks, Liam Lynch explains that understanding the evolving threat landscape is crucial for protecting firms and their clients from financial and reputational damage.

Why Are Accountants at Risk?

Accountants sit at a vital intersection of finance, data, and communication—three key areas exploited by cybercriminals. The profession’s reliance on digital systems for client communication, document sharing, and financial transactions makes it a lucrative target for AI-assisted attacks.

What makes the threat more pressing is the personalised and convincing nature of these attacks. AI models can generate human-like emails, simulate voice messages, or even create deepfake videos with alarming realism. In the hands of scammers, these tools turn traditional phishing and social engineering tactics into nearly undetectable schemes.

Common AI-Assisted Scam Scenarios

1. AI-Enhanced Business Email Compromise (BEC):
   Hackers use AI to scan public records and social media, crafting emails that mimic partners, CEOs, or clients. These emails can instruct accountants to wire funds, share confidential information, or approve fraudulent invoices.
2. Deepfake Audio and Video Requests:
   With just a few minutes of publicly available audio, scammers can generate deepfake voice commands from executives requesting urgent financial actions. In some cases, entire video meetings are spoofed to convince targets of legitimacy.
3. Intelligent Phishing Campaigns:
   AI can tailor phishing messages based on the target’s role, behaviour, or recent activity. These messages are much harder to detect due to their relevance and realism—making even savvy professionals vulnerable.
4. Document Spoofing and AI-Generated Reports:
   AI tools can mimic financial reports or tax documents that appear authentic. If accountants fail to verify sources, these forged documents can be used to manipulate records or gain unauthorised access.

How Accounting Firms Can Stay Protected

1. Employee Training and Awareness:
   Regularly train all staff on emerging scams, especially AI-enhanced social engineering. Use real-world scenarios in simulations to build instinctive scepticism and verification habits.
2. Implement Multi-Factor Authentication (MFA):
   Strengthen logins across all platforms using MFA. Even if credentials are stolen, additional authentication layers can prevent access.
3. Secure Communication Channels:
   Avoid using email alone for sensitive transactions. Implement secure client portals and internal messaging platforms that offer encryption and tracking.
4. Verify Unusual Requests Independently:
   Establish clear protocols for financial transfers or data sharing. Always verify such requests through a second, trusted channel—preferably voice or in-person confirmation.
5. Leverage AI Defensively:
   Just as attackers use AI, firms can adopt AI-based cybersecurity tools that detect anomalies in communication, flag deepfakes, and monitor system behaviours for potential intrusions.
6. Review and Update Incident Response Plans:
   Ensure your incident response strategies are up-to-date and include protocols specific to AI-driven threats. Run tabletop exercises regularly to test preparedness.

AI-assisted cyberattacks represent a new era of digital threat—one where scams are smarter, faster, and harder to detect. For accountants, the stakes are uniquely high given their custodianship over financial data and trust-based client relationships. But with a proactive approach that combines training, technology, and policy, accounting firms can defend themselves against even the most sophisticated AI-powered threats.

For the full webinar, please click here. Liam Lynch covers the following topics during this presentation:

• Brief introduction on Artificial Intelligence
• How AI is Used in Cyberattacks
• The Specific Risks to Accounting Practices
• Defending Against AI Assisted Attacks
• The Future of AI and Cybersecurity

The contents of this article are meant as a guide only and are not a substitute for professional advice. The authors accept no responsibility for any action taken, or refrained from, as a result of the material contained in this document. Specific advice should be obtained before acting or refraining from acting, in connection with the matters dealt with in this article.