Scroll Top

Criminals cloned a directors voice to steal $35 Million in yet another spoofing attack



When your voice is your password and your voice can be cloned it’s not that easy to get a new password …

Love the Exponential Future? Join our XPotential Community, future proof yourself with courses from XPotential University, read about exponential tech and trendsconnect, watch a keynote, or browse my blog.

After a $76 million heist in China, and in yet another example of how criminals are using Artificial Intelligence (AI) to clone people’s voices and other biometric and biomarker information for nefarious purposes it turns out that yet another company has been scammed, and you can now consider this as part of a growing trend.


MIT invents a cryptographic "Tag of Everything" to defeat counterfeiters


In early 2020, a bank manager in the Hong Kong received a call from a man whose voice he recognized – a director at a company with whom he’d spoken before. The director had good news: His company was about to make an acquisition, so he needed the bank to authorize some transfers to the tune of $35 million. A lawyer named Martin Zelner had been hired to coordinate the procedures and the bank manager could see in his inbox emails from the director and Zelner, confirming what money needed to move where. The bank manager, believing everything appeared legitimate, began making the transfers.

What he didn’t know was that he’d been duped as part of an elaborate swindle, one in which fraudsters had used “deep voice” technology to clone the director’s speech, according to a court document unearthed by Forbes in which the UAE has sought American investigators’ help in tracing $400,000 of stolen funds that went into US based accounts held by Centennial Bank. The UAE, which is investigating the heist as it affected entities within the country, believes it was an elaborate scheme, involving at least 17 individuals, which sent the pilfered money to bank accounts across the globe.


AI's new trick is predicting when you're going to die


Little more detail was given in the document, with none of the victims’ names provided. The Dubai Public Prosecution Office, which is leading the investigation, hadn’t responded to requests for comment at the time of publication. Martin Zelner, a US based lawyer, had also been contacted for comment, but had not responded at the time of publication.

It’s only the second known case of fraudsters allegedly using voice-shaping tools to carry out a heist, but appears to have been far more successful than the first, in which fraudsters used the tech to impersonate a CEO of a UK based energy firm to steal $243,000 in 2019.

The UAE case shows how devastating such high tech swindles can be and lands amidst warnings about the use of AI to create so called deep fake images and voices  in cybercrime.


AI and 6G will form the bedrock of China's first hypersonic missile defence system


“Audio and visual deep fakes represent the fascinating development of 21st century technology yet they are also potentially incredibly dangerous posing a huge threat to data, money and businesses,” says Jake Moore, a former police officer with the Dorset Police Department in the U.K. and now a cybersecurity expert at security company ESET. “We are currently on the cusp of malicious actors shifting expertise and resources into using the latest technology to manipulate people who are innocently unaware of the realms of deep fake technology and even their existence.

“Manipulating audio, which is easier to orchestrate than making deep fake videos, is only going to increase in volume and without the education and awareness of this new type of attack vector, along with better authentication methods, more businesses are likely to fall victim to very convincing conversations.”


For the first time the UN believes a hunter killer drone autonomously killed humans in battle


Once a technology confined to the realm of fictional capers like Mission: Impossible, voice cloning is now widely available. Various tech startups are working on increasingly sophisticated AI voice technologies, from London’s Aflorithmic to Ukraine’s Respeecher and Canada’s Resemble.AI. The technology caused a stir in recent months with the revelation that the late Anthony Bourdain had his voice synthesized for a documentary on his life. Meanwhile, recognizing the potential for malicious use of the AI, a handful of companies, such as $900 million-valued security firm Pindrop, now claim they can detect synthesized voices and thereby prevent frauds.

If recordings of you speaking are available online, whether on social media, YouTube or on an employer’s website, there may well be a secret battle going on for control of your voice without you knowing.

Related Posts

Leave a comment


1000's of articles about the exponential future, 1000's of pages of insights, 1000's of videos, and 100's of exponential technologies: Get The Email from 311, your no-nonsense briefing on all the biggest stories in exponential technology and science.

You have Successfully Subscribed!

Pin It on Pinterest

Share This