Deepfake Voice AI used to steal $35 Million from bank

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Deepfake technology is rapidly improving in quality and accessibility. With enough patience, anyone can do a simple face replacement. The AI technology is so successful that even Hollywood is using the tech for shows like The Mandalorian. But what about Deepfake Voice?

Rarely used for entertainment, deepfake voice AI works similarly to face replacements. Over many thousands of iterations, an artificial intelligence software can make someone sound like they’re saying anything they want them to. Not only does this introduce massive problems for individuals, but also for security.

Bank robbed with Deepfake Voice

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Reported by Forbes, criminals are already utilising deepfake voice AI in their crimes. A bank in the United Arab Emirates was robbed by a criminal crew for $35 million, all because of the use of a deepfaked conversation.

According to the report, the criminals tricked a bank manager by using an AI-generated version of their boss’ voice. The manager was told to transfer the $35 million into the criminals’ account so the boss could make an acquisition. Of course, the manager complied.

Out of the $35 million, approximately $400,000 made its way to U.S. bank accounts. In response, the United Arab Emirates is requesting assistance from American investigation services to find the stolen money.

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This isn’t the only instance of this crime

Artificial Intelligence’s use for crimes is quickly expanding as the technology gets better. However, this recent example of deepfake crime is far from the only one ― it’s not even the only case of Deepfake voice crime.

Back in 2019, via The Verge, a UK energy company was tricked into wiring €220,000 to a Hungarian supply company. AI voice fraud is quickly becoming more widespread among scammers due to its believability.

While deepfaked faces are convincing enough for most people, deepfaked voices are even more convincing. Hidden behind the crunchy nature of a phone call and its associated compression, there’s more leeway in how much the trick can get away with. But where does it end?

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