NatWest Group · AI used against the institution · severity 1 of 5
City AM reported on 3 July 2026 that multiple accounts on X shared a deepfake picture of NatWest Group chief executive Paul Thwaite alongside journalist Emily Maitlis, staged to look like a BBC radio interview, with captions such as "On air, Emily Maitlis raised the NatWest CEO's salary, causing a strong reaction." A NatWest spokesperson said the bank was working closely with social media platforms to remove the false images and called them "another reminder of criminal activity designed to defraud people – especially the vulnerable". The image followed deepfake videos of Bank of England governor Andrew Bailey and Nigel Farage in June 2026. No customer losses linked to the image have been reported, and the record does not describe where the posts led.
Record last reviewed Oct 21, 2026 · Markdown
Date
Institution
Country
United Kingdom
AI system
AI-generated deepfake image staging a fake BBC radio interview
AI?
Machine-learning system (inferred from the record)
The sources describe a machine-learning model; nobody on the record labelled it AI.
Status
Confirmed by the institution
Severity
1 of 5
Impact
No customer losses reported · A fabricated image of the bank's chief executive was shared by multiple X accounts as a lure; NatWest said such images are designed to defraud people, especially the vulnerable.
What happened?
On 3 July 2026 City AM reported that Paul Thwaite, chief executive of FTSE 100 lender NatWest Group, had been posted on X alongside journalist Emily Maitlis in a deepfake picture made to look like a BBC radio interview. The picture was shared by multiple accounts; one caption read: "On air, Emily Maitlis raised the NatWest CEO's salary, causing a strong reaction." City AM noted that Thwaite's pay had risen to £6.6m in the previous year.[1]
NatWest told City AM it was working with social media platforms to remove the images and described them as criminal activity designed to defraud people. TechRadar reported the case on 6 July, describing the image as an AI social media scam and placing it among a string of deepfakes of banking figures, after the Bank of England warned in June about deepfake videos of governor Andrew Bailey fighting Reform UK leader Nigel Farage.[1][2]
Neither outlet reported how many people saw the image, where its links led, or any money lost. City AM noted that the Online Safety Act rules requiring platforms to tackle fraudulent advertising were not due to come into force until the following year.[1][2]
When did it happen?
What was the impact?
- Customers: No customer losses reported[1][2]
- Other: A fabricated image of the bank's chief executive was shared by multiple X accounts as a lure; NatWest said such images are designed to defraud people, especially the vulnerable.[1][2]
Severity 1 of 5: Contained: an impersonation lure the bank confirmed and asked platforms to remove, with no customer losses reported.
How did NatWest Group respond?
A NatWest spokesperson said: "We're working closely with social media platforms to remove these false images. They are another reminder of criminal activity designed to defraud people – especially the vulnerable – and we encourage members of the public to stay vigilant and report any suspicious activity."[1]
What was the outcome, and did regulators act?
NatWest asked social media platforms to take the images down. No arrests, regulatory action or customer losses have been reported as of 2026-10-21.[1][2]
Was the image of NatWest CEO Paul Thwaite with Emily Maitlis real?
No. City AM reported in July 2026 that it was a deepfake picture made to look like a BBC radio interview and shared by multiple accounts on X. NatWest called the images false and said it was working with social media platforms to remove them.
Did anyone lose money to the NatWest CEO deepfake?
No losses have been reported. NatWest said the images were criminal activity designed to defraud people, especially the vulnerable, but neither City AM nor TechRadar reported any victims, the size of the audience or where the posts' links led.
What did NatWest do about the deepfake of its chief executive?
NatWest said it was working closely with social media platforms to remove the false images and encouraged the public to stay vigilant and report suspicious activity. No regulatory or police action connected to the image has been reported as of October 2026.
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