Scammers used AI voice deepfake technology to impersonate investor Clive Kabatznik in fraudulent phone calls to his Bank of America representative, attempting to trick the banker into transferring money to unauthorized accounts.
AI-powered voice deepfake technology was used by scammers to impersonate Clive Kabatznik, a Florida investor, in fraudulent phone calls to his Bank of America representative. The scammers generated synthetic versions of Kabatznik's voice using readily available recordings from his public appearances, including conference speeches and fundraiser videos posted online. Multiple fraudulent calls were made attempting to convince the banker to transfer money to unauthorized accounts. The banker detected the fraud due to the repetitive, garbled nature of the synthetic voice and reported the incident to Bank of America's security team. As a precautionary measure, the banker stopped responding to all calls and emails from the real Kabatznik for approximately 10 days until an in-person meeting could be arranged to re-establish contact. This incident represents part of a growing trend of voice deepfake attacks on financial institutions, with companies like Pindrop reporting increased prevalence in 2023. The attacks leverage stolen customer data available on underground markets combined with publicly available voice recordings to create convincing impersonations for financial fraud.
Domain classification, causal taxonomy, severity scores, and national security assessments were LLM-classified and may contain errors.
Using AI systems to gain a personal advantage over others such as through cheating, fraud, scams, blackmail or targeted manipulation of beliefs or behavior. Examples include AI-facilitated plagiarism for research or education, impersonating a trusted or fake individual for illegitimate financial benefit, or creating humiliating or sexual imagery.
AI system
Due to a decision or action made by an AI system
Intentional
Due to an expected outcome from pursuing a goal
Post-deployment
Occurring after the AI model has been trained and deployed