Fabricated Voice Used in Financial Fraud
This seems to be an identity theft first:
Criminals used artificial intelligence-based software to impersonate a chief executive’s voice and demand a fraudulent transfer of €220,000 ($243,000) in March in what cybercrime experts described as an unusual case of artificial intelligence being used in hacking.
Another news article.
Tatütata • September 12, 2019 8:38 AM
Like most readers here, I don’t subscribe to the WSJ and had to circumvent a paywall…
From the content:
Mr. Kirsch believes hackers used commercial voice-generating software to carry out the attack.
My crude translation: the entire story is predicated on speculation. Why couldn’t it have been an impersonator? Morning show pranksters regularly take in public figures without resorting to AI and stuff.
All that tomfoolery would have been more difficult 15-20 years ago, when bank transfers on paper slips were still prevalent. Cooler heads might have had time to prevail if you had to walk all the way to the bank at the end of the working day…
Wire transfers within the Euro zone must be carried out overnight, but exceptions are allowed for other currencies. In this case, the “urgent” transfer had to be made from the UK (UKP) to Hungary (HUF). The funds probably wouldn’t have been available for at least 2-3 days. Didn’t anyone notice?
BTW, this week marks the end in Germany of transaction authentication numbers (“TAN-Verfahren”) for bank transactions. Customers were issued with a sheet of 100 six digit numbers, and had to enter one of these for each transactions. Various methods of phishing would induce users to provide unused numbers, which fraudsters would then employ to empty the victim’s bank account. Now special devices or apps (barf) are the norm. When you want to carry out a transaction, you take a picture of a pattern on your display, which is then transformed into a validation number. Your phone or special device also summarizes on its own display to confirm the transaction.
The idea of a machine impersonator goes back at least to Fritz Lang’s “Das Testament des Dr. Mabuse” (1933). At 1h46’15”, Kent and chief inspector Lohmann arrive at the psychiatric clinic and knock on prof. Baum’s door, only to be sternly warned by a gramophone that the Perfesser mustn’t be disturbed.