An artificial-intelligence first: Voice-mimicking software reportedly used in a major theft

Posted in: Legal & Security at 05/09/2019 14:58

Thieves used voice-mimicking software to imitate a company executive’s speech and dupe his subordinate into sending hundreds of thousands of dollars to a secret account, the company’s insurer said, in a remarkable case that some researchers are calling one of the world’s first publicly reported artificial-intelligence heists.

The managing director of a British energy company, believing his boss was on the phone, followed orders one Friday afternoon in March to wire more than $240,000 to an account in Hungary, said representatives from the French insurance giant Euler Hermes, which declined to name the company.

Also see:

CEO ‘Deep Fake’ Swindles Company Out of $243K
In the first known case of successful financial scamming via audio deep fakes, cybercrooks were able to create a near-perfect impersonation of a chief executive’s voice – and then used the audio to fool his company into transferring $243,000 to their bank account.

A deep fake is a plausible video or audio impersonation of someone, powered by artificial intelligence (AI). Security experts say that the incident, first reported by the Wall Street Journal, sets a dangerous precedent.

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