Some tricky bastards used fake voice tech to trick a CEO into wiring them $243,000
Is nothing sacred?
The Wall Street Journal reported a case of voice fraud which is known as vishing (which is short for “voice phishing”) which led to a company losing approximately $243,000.
Fake voice tech was used to trick a CEO into wiring a quarter of a million dollars to scammers
This case dates back to March when some criminals took help from a commercially available voice-generating AI software to imitate the CEO of a German company that also owns an energy firm based in the UK. These criminals then went on to trick the unnamed energy company’s chief executive into urgently wiring the $243,000 to a Hungarian-based supplier within an hour.
The criminals made promises and guaranteed that the transfer would be reimbursed immediately. Obviously, it wasn’t.
The company’s CEO recognized the voice patterns of his boss so he did not suspect anything and wired the given funds immediately. The culprits tried to ask for a second transfer, however, this time the British CEO refused to wire the money.
The money transferred to Hungary was moved to Mexico and other locations and the proper authorities have yet to determine the culprits behind the operation. It wasn’t all bad for the firm, as the firm was insured by Euler Hermes Group, which covered the entire cost of the payment.
Could faking someone’s voice be a huge security threat in the future? Read more here.
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