A report coming from the wall street journal says that the -mastermind criminals used Artificial intelligence-based voice-generating software to re-generate the fake voice of a German company, the name has not been revealed due to privacy concerns.
The incident is not so recent as all of this happened in March this year, scammers tricked the CEO of a UK based energy firm saying that he is the CEO of the Parent company. The further conversation led to the fraudulent transfer of $243,000 into the scammers’ account.
The scammers requested the CEO to transfer money into a Hungary based supplier’s account and assured to initiate a refund in an hour. Due to similar voices, the German CEO transferred the amount without any further questions.
The money was not refunded, and the Scammer again requested for another money transfer which was not approved by the company. The further reports stated that the money was first transferred to Hungary, and later it reached to Mexico and other places. The authorities are investigating upon this matter, but there is still no firm evidence of who is the real culprit behind this mastermind plan.
All of this scenario gives us a strong lesson that masterminds have the ability to sneak into the personal details that are not easily accessible using Artificial technology. Pindrop, a company which creates protocols and software for call centers revealed that there is 350% rise in voice frauds between 2013 and 2017.