Unusual CEO Fraud via Deepfake Audio Steals US$243,000 From UK Company


An unusual case of CEO fraud used a deepfake audio, an artificial intelligence (AI)-generated audio, and was reported to have conned US$243,000 from a U.K.-based energy company. According to a report from the Wall Street Journal, in March, the fraudsters used a voice-generating AI software to mimic the voice of the chief executive of the company’s Germany-based parent company to facilitate an illegal fund transfer.

The cybercriminals called the U.K. company’s CEO pretending to be the CEO of the parent company. The attackers demanded that an urgent wire transfer be made to a Hungary-based supplier and the U.K. company’s CEO was assured of a reimbursement. After the money had been transferred, it was forwarded to an account in Mexico and then other locations, making the identification of the fraudsters more difficult.

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Source: Trend Micro