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A Voice Deepfake Was Used To Scam A Ceo Out Of 243000
webA landmark real-world case illustrating how advanced AI voice synthesis can be weaponized for fraud, relevant to discussions of AI misuse risks, authentication vulnerabilities, and governance of synthetic media technologies.
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Summary
Reports the first documented case of an AI-generated voice deepfake used in a financial scam, where fraudsters impersonated a German CEO's voice to trick a UK energy firm's CEO into transferring €220,000. The scam succeeded in part because the synthetic voice convincingly replicated the target's German accent and vocal 'melody,' highlighting real-world misuse risks of voice synthesis technology.
Key Points
- •Fraudsters used AI voice cloning to impersonate a German executive, convincing a UK CEO to transfer €220,000 to a Hungarian account.
- •The synthetic voice was convincing enough to replicate subtle accent and vocal characteristics, demonstrating high fidelity of AI voice synthesis.
- •The scammer called three times: to initiate transfer, falsely confirm reimbursement, and request a follow-up payment before the victim grew suspicious.
- •Funds were rapidly moved from Hungary to Mexico and dispersed, illustrating how AI-enabled fraud can facilitate rapid money laundering.
- •Considered the first known instance of AI voice deepfake used in a financial crime, signaling a new class of social engineering attack.
Cited by 1 page
| Page | Type | Quality |
|---|---|---|
| Deepfakes | Risk | 50.0 |
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A Voice Deepfake Was Used To Scam A CEO Out Of $243,000
By [Jesse Damiani](https://www.forbes.com/sites/jessedamiani/ "https://www.forbes.com/sites/jessedamiani/")
[Innovation](https://www.forbes.com/innovation/)[Consumer Tech](https://www.forbes.com/consumer-tech/)
# A Voice Deepfake Was Used To Scam A CEO Out Of $243,000
By [Jesse Damiani](https://www.forbes.com/sites/jessedamiani/ "https://www.forbes.com/sites/jessedamiani/"),
Former Contributor.
Forbes contributors publish independent expert analyses and insights.
Jesse Damiani covers AI, ClimateTech, and emerging media.
Sep 03, 2019, 04:42pm EDTSep 03, 2019, 04:43pm EDT
This article is more than6years old.
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### It’s the first noted instance of an artificial intelligence-generated voice deepfake used in a scam.
Phone scams are nothing new, but the mark usually isn’t an accomplished CEO.
According to a new report in [_The Wall Street Journal_](https://www.wsj.com/articles/fraudsters-use-ai-to-mimic-ceos-voice-in-unusual-cybercrime-case-11567157402), the CEO of an unnamed UK-based energy firm believed he was on the phone with his boss, the chief executive of firm’s the German parent company, when he followed the orders to immediately transfer €220,000 (approx. $243,000) to the bank account of a Hungarian supplier.
In fact, the voice belonged to a fraudster using AI voice technology to spoof the German chief executive. Rüdiger Kirsch of Euler Hermes Group SA, the firm’s insurance company, shared the information with WSJ. He explained that the CEO recognized the subtle German accent in his boss’s voice—and moreover that it carried the man’s “melody.”
According to Kirsch, the of yet unidentified fraudster called the company three times: the first to initiate the transfer, the second to falsely claim it had been reimbursed, and a third time seeking a followup payment. It was at this point that the victim grew skeptical; he could see that the purported reimbursement had not gone through, and he noticed that the the call had been made from an Austrian phone number.
PROMOTED
While he did not send a second payment, the first had already transferred, which was moved from the Hungarian bank account to one in Mexico, and then disbursed to other locations.
Earlier this summer, researchers from Dessa, an AI company based in Toronto, [produced a simulation](https://medium.com/dessa-news/real-talk-speech-synthesis-5dd0897eef7f) of popular podcaster and comedian Joe Rogan’s voice:
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