Scammers are using deepfakes and voice cloning to create highly convincing scams that exploit the trust people place in familiar voices and faces. Here are some of the ways these technologies are being used to perpetrate fraud:
1. Business Email Compromise (BEC) Using Voice Cloning:
In Business Email Compromise schemes, scammers use voice cloning to impersonate company executives, often over the phone, and instruct employees to transfer large sums of money to fraudulent accounts. The victim believes they are speaking with their CEO or CFO and complies with the order, resulting in massive financial losses.
Example: In one well-known case, a UK-based energy firm lost $243,000 when an executive’s voice was cloned to impersonate a CEO. The scammer called a senior employee, who believed they were speaking with their boss, and authorized the payment.
2. Impersonating Loved Ones:
Deepfakes and voice cloning can also be used to impersonate family members or friends. Scammers may create a deepfake video or use a voice clone to convince individuals that their loved ones are in danger or facing an emergency, pressuring them to send money immediately. These scams play on emotions and can be particularly effective when the victim is distracted or overwhelmed.
Example: A scammer might use voice cloning to call a victim, claiming to be their child in distress, asking for money to resolve a supposed crisis. The victim, believing the call is real, ends up transferring funds to the scammer.
3. Fake Interviews or Videos:
Deepfake technology is also being used to create fake interviews or videos that manipulate the public or investors. Scammers may clone the face and voice of well-known CEOs or celebrities to create fake promotional videos or interviews. These videos may promote fake investments or fraudulent companies, tricking people into giving away personal details or making unwise financial investments.
Example: A deepfake video of a well-known tech entrepreneur might be used to endorse a fake cryptocurrency or stock investment, leading people to invest in a scam.
4. Impersonating Authorities or Officials:
Scammers are also using deepfakes and voice cloning to impersonate government officials or law enforcement officers. They might call or send messages claiming to be from a tax authority or a law enforcement agency, demanding immediate payment for alleged unpaid taxes or legal violations.
Example: A scammer might impersonate a tax officer, calling the victim to threaten arrest unless they immediately wire funds to settle a supposed tax debt. The victim, believing the call is legitimate, ends up falling for the scam.
Scammers are using deepfakes and voice cloning to create highly convincing scams that exploit the trust people place in familiar voices and faces. Here are some of the ways these technologies are being used to perpetrate fraud: