Dubai USD 35m voice cloning heist
Occurred: October 2021
According to a new Forbes report, Dubai investigators have discovered an elaborate scam in which deepfake technology was used to clone the voice of a company director and defraud his company of USD 35 million.
About to make an acquisition, the company needed its bank to authorise a series of transfers. A bank employee was fooled by the deepfaked voice into authorising the transfer of the cash, believing it was a legitimate business transaction.
UAE authorities reckon the scheme involved at least 17 people. It is the second known case of fraudsters using deep voice tools to carry out a heist, and much the largest.
Sector: Banking/financial services
Technology: Deepfake - audio; Generative adversarial network (GAN); Neural network; Deep learning; Machine learning
Issue: Ethics; Security