When Trust Is Tested: How Family Offices Can Stay Ahead of Deepfakes and Cyber Threats

For family offices, trust has always been the cornerstone — of governance, decision-making, and the relationships that span generations. But in today’s digital world, even trust can be convincingly faked.

In our recent webinar, “Seeing Isn’t Believing: Deepfakes & Cyber Threats to Family Offices,” hosted by Caxton alongside our partners Fladgate and OneCollab, we explored how emerging technologies are reshaping the nature of risk for family offices — and what can be done to stay ahead.

The New Reality: When What You See (and Hear) Isn’t Real

Deepfakes — AI-generated audio, video, and images that replicate a real person’s likeness — are no longer confined to science fiction. With just 30 seconds of publicly available speech, cybercriminals can now clone a voice that sounds indistinguishable from the real thing.

Family offices are particularly at risk because they operate on close, trust-based relationships and often handle large transactions quickly. When a familiar voice or face seems to confirm a payment or request, it feels natural to act. That’s exactly what fraudsters exploit. 

Real-World Lessons from the Front Line

These risks aren’t hypothetical. We’ve already seen family offices experience them first-hand.

🔹 The £250,000 Car Purchase:
A finance team member received an email from their director asking to approve a payment for a vehicle. A follow-up call confirmed it — the voice sounded exactly right. It wasn’t. It was an audio deepfake. The transfer went through, and the funds were lost.

🔹 The Crypto Endorsement:
A UBO’s image and voice were used in fake social media videos promoting a cryptocurrency. The content spread quickly before being taken down. Although no money was lost, the reputational impact was real — and it took decisive communication to manage the fallout.

🔹 Our Live Demonstration:
During our webinar, we showed how a 30-second voice clip was enough to build a convincing deepfake. The goal wasn’t to shock, but to make clear just how accessible this technology has become.

Why Family Offices Are Prime Targets

Family offices face a combination of factors that make them particularly vulnerable:

• Cross-generational use of technology — with varying levels of digital fluency and awareness.

• High-value transactions — where a single error can mean seven-figure losses.

• Lean governance structures — compared to large corporates, there are fewer layers of verification.

• Discretion and personal trust — which, while essential, can sometimes override process.

For cybercriminals, this makes family offices both high-reward and, too often, low-resistance.

How to Strengthen Resilience

The encouraging truth is that most deepfake and cyber fraud incidents can be prevented with simple, consistent measures.

Here are five practical safeguards every family office should adopt:

1. Build a Culture of Vigilance
   Cybersecurity starts with leadership. If the board treats it seriously, the whole team will follow. Include family members in awareness training — they’re often the weakest link in otherwise strong systems.

2. Strengthen Governance
   Adopt the “four eyes, not two” principle for all significant transactions. Build independent verification into every workflow. Reconcile accounts regularly — not just on paper, but against actual bank records.

3. Verify Before You Act
   Slow down. Urgent requests, unusual payments, or tone changes in emails should all raise a flag. Confirm instructions in person or via secure video, never just by email or voice alone.

4. Get the Basics Right
   Multi-factor authentication (MFA), passkeys, and restricted access remain your strongest defences. Most attacks succeed because controls exist — but aren’t consistently enforced.

Prepare for the Inevitable
Even the best defences can fail. A clear incident response plan ensures you can contain issues quickly and communicate effectively.

Protecting Wealth, Reputation, and Legacy

Cybersecurity is often framed as a technical issue — but for family offices, it’s about much more. It’s about protecting trust, reputation, and the relationships that underpin every decision.

By embedding vigilance, culture, and strong governance into everyday operations, family offices can stay one step ahead of deception — without losing the efficiency and discretion they’re known for.

Access our full resource pack, including:

The Family Office Guide to Deepfakes & Cyber Threats

Family Office Cyber Checklist

5 Practical SafeGaurds 

About the Authors:
This guide was developed by Caxton in collaboration with Fladgate LLP and OneCollab — combining expertise in payments, legal governance, and cybersecurity to help family offices protect what matters most.

Contact us to arrange a private consultation with Caxton's Market Analyst.