With the capabilities of generative AI tools becoming so widely available, it is increasingly difficult to distinguish between what’s real and fake.
Schneider Downs is proud to be an official supporting organization of International Fraud Awareness Week. To mark the 25th anniversary of International Fraud Awareness Week, we are releasing a series of content on how AI is reshaping the landscape of fraud detection and prevention. This article focuses on AI voice cloning.
This past summer, an imposter sent deceptive AI-generated voicemail messages to foreign and U.S. officials, leveraging U.S. Secretary of State Marco Rubio’s voice. This sparked national security concerns. Simultaneously, the publicity helped spread awareness of the threats that generative AI can pose. With generative AI capabilities growing exponentially, and AI tools becoming increasingly prevalent in everyday life, it is getting much harder to distinguish between what’s real and fake.
Imagine receiving a call from what sounds exactly like a family member or colleague in distress, only to discover it was an AI-generated voice leading you into a financial scam.
Think it could never happen to you? Our latest video might change your mind. Put your instincts to the test as you try to tell the difference between a real voice and an AI-generated one, featuring both authentic and synthetic audio clips from our co-CEO, Chris McElroy.
The Real-Life Impact of AI Voice Cloning
The implications for fraud are profound and far-reaching, extending far beyond the use of cloned voices. Generative AI has expanded the pool of threat actors by lowering the bar for technological expertise and increasing the scale of attacks through rapid content creation capabilities. Fraudsters are exploiting large language models (LLMs) to craft highly convincing and personalized phishing emails and text messages, designed to deceive recipients into revealing sensitive information, clicking malicious links or sending funds. Beyond phishing, these AI tools can even be used to generate documentation, images and even video calls. These materials can then be used to support fraudulent expense reimbursement requests and vendor invoices, and create malware and viruses.
Tips to Reduce the Risk of AI-Enabled Fraud
- Be cautious of unsolicited messages that create urgency or emotional pressure.
- Consider leveraging corporate credit cards for employee expenses.
- Educate employees and family members about the risks of AI-generated scams.
- Leverage multi-factor authentication to protect accounts.
- Maintain and implement transaction approval workflows.
- Verify the identity of callers or message senders through secondary channels.
How Can Schneider Downs Help?
At Schneider Downs, we have years of experience helping organizations respond to potential fraud and developing anti-fraud programs to catch fraud before it happens. If you have questions or concerns, contact a member of our team at [email protected].
This article is part of a series highlighting how AI is reshaping the landscape of fraud detection and prevention. Additional articles include:
About International Fraud Awareness Week
Since 2000, the Association of Certified Fraud Examiners has recognized the third week in November as International Fraud Awareness Week. With a focus on awareness, education and fostering a culture of integrity, International Fraud Awareness Week recognizes the importance of taking action in the fight against fraud. Learn more at FraudWeek.com.
About Schneider Downs Business Advisory
Our experienced team of business advisors, consisting of Certified Fraud Examiners (CFEs), a Master Analyst in Financial Forensics (MAFF), a Certified Forensic Interviewer (CFI), and Certified Mergers and Acquisition Advisors (CM&AAs), leverages their industry expertise to maximize value and minimize risk proactively or during acquisitions, fraud events, litigation, arbitration, corporate reorganization and other major business transactions and transitions. To learn more, visit our dedicated Business Advisory page.
