You receive an urgent email from the CEO requesting a payment be processed before the end of the day. The email looks genuine, the writing style appears familiar, the address is correct and relevant supporting documentation is attached. You know the CEO has been flat out on a new project and has a lot on her plate, so it’s not unusual for this to be left to the last minute. You process the payment as requested and update the CEO via email.
The only issue is that the CEO never sent the email.
AI-enabled fraud – why it’s changing the game
Social engineering fraud is not new. However, the use of artificial intelligence (AI) to perpetrate that fraud at speed and scale, combined with rapid advances in technology is making these frauds more convincing and increasingly difficult to identify. It allows for the creation of realistic emails, fabricated documents, cloned voices/deepfakes or synthetic identities at little to no cost or time investment. AI is enabling perpetrators to replicate
