AI: Cyber criminals reproduce a chairman's voice and steal 244 000 USD

Cyber criminals managed to steal 244 000 USD by reproducing the voice of a German company's chairman. They ordered the CEO of the British subsidiary to transfer funds.

Cybercriminals used artificial intelligence (AI) to reproduce the voice tone, the German accent and the chairman' tics. Upon receiving the call, CEO of the UK-based did not doubted for a second the identity of his interlocutor. He then proceeded to an urgent transfer the money without applying the procedures.

According to the insurer, Euler Hermes, the CEO of the British subsidiary whose name was not revealed was contacted three times. A first time to demand the money transfer, a second time to reassure him that the transfer would be reimbursed (which was not the case actually) and finally to ask one last time for another transfer.

It is after this third phone call that the CEO suspected the identity of his interlocutor. Informed of the case, the police was unable to locate the cyber criminals.