An AI-powered cyber-attack using digitally recreated people has seen a Chief Financial Officer scammed in a video conference call.
The attack comes just weeks after EPX Technical Services CEO Dan Ellis named AI–powered attacks using fake voice and video as something to watch out for in 2024.
AI-powered Cyber Attack
The Cyber security predictions blog we published in early January talked about Dan’s predictions of AI-powered attacks with impersonation and deep fakes in video and audio where faces and voices are impersonated.
Dan said: “My prediction has come to fruition with an attack where scammers used digitally recreated versions of an international company's Chief Financial Officer and other employees to order $25 million in money transfers during a video conference call containing just one real person.“I predicted that an AI-powered attack could see an intruder access your email account and get an AI to read all the emails you have ever sent – allowing the AI to impersonate you brilliantly.
Cybercriminals across the globe continue to exploit vulnerabilities and access sensitive information. Your IT department should have prevention at the forefront of IT policies to ensure that breaches like this are not a possibility.
Deep fakes in Voice and Video
“I also mentioned that there are tools available right now online that can make a fake voice, and how I could see no reason why that would not develop to video, too.
“And now....here we are!”
The South China Morning Post reported that the victim, an employee at the Hong Kong branch of an unnamed multinational firm, was duped into taking part in a video conference call in which they were the only real person – the rest of the group were fake representations of real people.
Video Conferencing Scam
The employee followed instructions they heard during the call, transferring HK$200 million ($25.6 million) to several Hong Kong bank accounts across 15 transfers.
It was only a week later, when the employee contacted company headquarters, did they realise it was a scam.
Work with your IT team
In our blog, you can read the rest of Dan’s Cyber Security predictions for the year - and, more importantly, how to combat them.
If you feel your company's security is not where it should be, please do not delay in taking action.JTNDZGl2JTIwaWQlM0QlMjJzbGlkZUJ1dHRvbiUyMiUyMGNsYXNzJTNEJTIyc2lkZS1idXR0b24lMjIlM0VHZXQlMjBJbiUyMFRvdWNoJTNDJTJGZGl2JTNF
