AI Voice Cloning and Financial institution Voice Authentication: A Recipe for Catastrophe?

New developments in generative AI voice cloning come at a time when banks are searching for further methods to authenticate their prospects – and so they’re selecting your voice.

Banks adopted the rules of multi-factor authentication years in the past. However continued cyber assaults geared toward offering SIM swapping providers have elevated the danger of assuming the credential proprietor really possesses the cellular gadget. So, the place do they go subsequent to show you’re you? Voiceprint.

Wells Fargo touts utilizing “your distinctive voiceprint to entry your accounts once you name Wells Fargo. Voice Verification is straightforward as a result of it makes your voice your password” (Wells Fargo has just lately introduced to prospects they’ve disabled the voiceprint service).

The issue? Developments in voice cloning. Take OpenAI’s new Voice Engine for instance. With simply 15 seconds (seconds!) of recording, this engine could make you say something.

Certain, AI could not know precisely methods to sound just like the on a regular basis particular person, however they are often convincing sufficient to probably bypass voice as an authentication technique.

It additionally means we’ll be seeing a rise in voicemails from the “CFO” getting used as a method of additional establishing credibility for digital fraud scams with subordinates in finance departments because the victims.

Does this imply applied sciences like Voice Engine are dangerous? Actually not. However it does imply people who may very well be socially engineered by way of a voice message to behave within the curiosity of an attacker must be enrolled in safety consciousness coaching so that they perceive that communications ought to all the time be scrutinized when cash is concerned.

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