Woman loses Rs 1.4 lakh in AI enabled voice scam

In a shocking incident,  a 59-year-old woman, fell victim to an AI-generated voice fraud, losing a staggering sum of Rs 1.4 lakh. The caller, who eerily mimicked her nephew residing in Canada, fabricated a harrowing narrative, claiming to be in dire need of immediate cash. As per The TOI, the scam unfolded late at night when she received a call that initially appeared to be from her nephew in Canada. The caller skillfully replicated her nephew's voice, speaking flawless Punjabi and expressing urgency due to an apparent accident, coupled with impending legal trouble. "He sounded just like my nephew and spoke exactly in the Punjabi we speak at home with all the nuances. He called me late in the night and said he had an accident and was about to be jailed. He requested me to transfer money and keep this conversation a secret," Prabhjyot recounted, still reeling from the shock of the sophisticated scam.

Unfortunately, by the time she  realized the deceitful nature of the call, she had already executed multiple money transfers to the account specified by the fraudulent caller. Artificial Intelligence is emerging as a powerful tool for fraudsters to commit scams. The latest is an AI-enabled fake voice scam. Scammers are using artificial intelligence to sound more like family members in distress. A survey by McAfee, an online security firm, revealed that 83% of Indians believed that their money was lost due to fake voice calls. Earlier, a man was duped of Rs. 5 crore after a scammer in Northern China used highly advanced 'deepfake' technology and convinced a man to transfer money into his account. The scammer used AI-powered face-swapping technology and impersonated the victim's close friend. The victim, believing that his friend was in dire need of money during a bidding process, transferred the amount. The police also revealed that the victim realised what had transpired only after his friend (whom the scammer impersonated) expressed 'ignorance at the situation'. The latest incident has raised concerns in China over AI being used to carry out financial crimes.