Fast-spreading disinformation and the growing ease with which believable deepfake media can be created are threats that are poised to accelerate a range of business dangers, particularly those related to reputational risk, market manipulation and social engineering fraud. Businesses must have strategies in place to prepare for and respond to these challenges. At the same time, with synthetic media offering an array of innovative applications that can be used in legitimate ways, companies that want to benefit from the positive applications of deepfake technology must carefully assess the business and legal challenges of its use.