In a first of its kind of fraud, scammers used an AI-based software to successfully generate a CEO’s voice and then used it to get an executive transfer $243,000 to their bank account. The fake voice had a hint of a German accent and a similar intonation.

The fraudsters tried their luck the second time asking the executive to initiate another urgent fund transfer, however, this time he denied.

It was later found out that the funds were transferred from Hungary to Mexico and then elsewhere. The investigation is going on and fraudsters are still at large. 

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