ISACA warns firms of rising AI-driven cyber threats

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Businesses face growing exposure to artificial intelligence-powered cyberattacks, including deepfake impersonation and digital fraud, as technology becomes increasingly embedded in corporate operations, the President of the Information Systems Audit and Control Association, Lagos Chapter, Justus Osuji, has warned.

Osuji said organisations could lose substantial financial resources to cybercriminals exploiting artificial intelligence to bypass conventional security systems, impersonate senior executives and manipulate employees into authorising fraudulent transactions.

He spoke at the 2026 Governance, Risk and Compliance Conference of ISACA Lagos Chapter, where industry professionals examined emerging cybersecurity threats under the theme, ‘Tech Warfare: The GRC Playbook for 2026 and Beyond’.

According to him, the changing nature of cyber threats means organisations can no longer rely solely on physical security measures or conventional information technology controls to protect their operations.

He cited the growing use of deepfake technology to imitate chief executives and other senior officials, warning that criminals could exploit the technology to deceive employees and facilitate corporate fraud.

“We see today where people are using deepfakes to mimic CEOs and use them to defraud organisations. We also see people using deepfakes to imitate or implicate other people for whatever reasons they want to achieve,” Osuji said.

He noted that the threats had evolved beyond conventional warfare and were increasingly targeting businesses, positioning cybersecurity as a strategic concern requiring board-level attention rather than being left solely to information technology departments.

“Technology is no longer an enabler in the organisation. It has become part of the DNA of the organisation,” he said, urging board members to understand the technological risks confronting their businesses and ensure that appropriate safeguards were in place.

The ISACA president said organisations needed to strengthen their resilience by adopting appropriate security solutions, making informed technology decisions and ensuring responsible deployment of artificial intelligence.

He added that the growing sophistication of cyber threats required companies to understand both the opportunities and risks associated with emerging technologies, particularly as criminals increasingly exploited artificial intelligence for malicious purposes.

Beyond deploying security infrastructure, Osuji stressed the importance of educating employees and preparing organisations to identify and respond to emerging threats.

The warning comes as businesses increasingly depend on digital systems to manage transactions, customer information and internal operations, expanding the potential consequences of security breaches.

Also speaking at the conference, the founder and Chief Executive Officer of Bridge57 Solutions Limited, Roseline Ilori, said cybersecurity risks extended beyond an organisation’s internal systems to its vendors, business partners and other third-party service providers.

She called for greater cooperation among businesses and regulators to ensure that information about cyberattacks was shared across industries, allowing other organisations to strengthen their defences before similar incidents occurred.

“If an attack has happened to company A, why should we wait for it to happen to company B?” she said, arguing that regulators should coordinate industry responses to improve preparedness and reduce exposure to cyber threats.

Ilori identified employee awareness as a critical part of cybersecurity, noting that organisations could remain vulnerable even after investing in sophisticated security infrastructure if workers lacked the knowledge to identify potential threats.

She also urged businesses, including startups and small enterprises, to protect their digital assets with basic security measures, warning that losing access to an important online account could threaten the survival of a small business.

The immediate past president of ISACA Lagos Chapter, Tokunbo Taiwo, said organisations needed to integrate security into software development from the earliest stages rather than treating it as an additional measure after systems had been built.

He said businesses providing technology-dependent services had a responsibility to understand the risks associated with their operations, comply with applicable regulations and seek professional guidance where necessary.

Taiwo added that cybersecurity awareness remained essential because a single employee, whether through negligence or deliberate action, could compromise an organisation’s security arrangements.

He said the conference provided a platform for professionals in information technology security, auditing, governance and risk management to exchange knowledge on emerging threats and strengthen collective responses.

Justice has over three years experience spanning digital and print media. At The PUNCH, he currently covers the automobile sector with special interest in features and industry analysis.

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