Photo credit: 2 Minute Papers
Cyber criminals have taken things to a whole new level, thanks to artificial intelligence. Back in 2020, a bank manager in the United Arab Emirates received a call from someone who sounded exactly like a director at a company he was familiar with, but this is where things take a turn for the worst. This person announced that his company was on the verge of making an acquisition and needed a $35-million transfer to be approved.
To make sure things appeared legitimate, this group hired lawyer Martin Zelner to coordinate the transfer and designate where the money needed to be moved. Since everything looked good on paper, the funds left the original account and received approval to be transferred elsewhere. In all, law enforcement estimate that there were at least 17 individuals involved in the heist, with $400,000 USD of the funds going into U.S accounts held by Centennial Bank. Unfortunately, the Dubai Public Prosecution Office leading the investigation have not been able to locate any of those individuals as of yet.
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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,” said Jake Moore, a former police officer with the Dorset Police Department in the U.K.
