Cybercriminals Impersonate Chief Execs Voice with AI Software

Scammers leveraged artificial intelligence software to mimic the voice of a chief executive and successfully request $243,000.

Fraudsters are constantly looking for new ways to scam their victims. One unique case gives the security industry a glimpse of what they could do with artificial intelligence (AI) and voice recording.
As part of an incident in March, an attacker called the CEO of a UK-based energy business pretending to be the head of its German parent company. Analysts believe AI-based software was used to impersonate the chief executives voice, as it had the slight German accent and other qualities the UK CEO recognized in his bosss voice — qualities that led him to believe the call was legitimate. The caller issued an urgent request to the CEO, demanding he transfer $243,000 to a Hungarian supplier within an hours time.
The transfer went through and the money was later moved to other countries. Scammers continued to contact the UK company and make additional payment requests, according to Euler Hermes, the organizations insurer. However, the CEO grew suspicious and did not transfer the funds.
While this incident is still under investigation, the Wall Street Journal cites officials saying this impersonation attack is the first in which fraudsters clearly leveraged AI to mimic someones voice. Its believed this technology could make it easier for scammers to manipulate enterprise victims, complicating matters for defenders who dont yet have the technology to detect them.
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Cybercriminals Impersonate Chief Execs Voice with AI Software