Artificial Intelligence (AI) is a powerful emerging branch of technology that holds a lot of promise to society. With benefits ranging from process automation, decision-support, speed and precision in detection and analysis processes amongst many others.
But with its great benefits AI also puts new powers in the hands of would be bad actors. To that end, a recent incident in March-2019 took place where a fraudster used AI enabled voice-replication to scam the CEO of a UK energy firm to make a fraudulent money payment into his bank account. In essence, the scammer used artificial intelligence-based software to impersonate the voice of the chief executive’s boss and demanded that an urgent transfer of €220,000 ($243,000) be made to a certain bank account – which of course belonged to the fraudster.
The case was covered in the press by the Wall-Street-Journal.
Click the button below to read more on the press article.