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In a troubling new trend, cyber criminals are leveraging advanced voice cloning technology to deceive victims into transferring large amounts of money into untraceable cryptocurrency accounts. This alarming tactic has been uncovered by the ABC7 I-Team, shedding light on a sophisticated approach to cyber fraud.
Joe Kefer, who serves as the Assistant to the Special Agent In Charge at the U.S. Secret Service’s Chicago Field Office, has been at the forefront of combating this insidious form of cybercrime. He explains that these criminals exploit the anonymity of the internet to impersonate trusted individuals, thereby manipulating unsuspecting targets into parting with their money.
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“We’re seeing a sharp increase in fraud cases where victims are coaxed into converting their U.S. dollars into cryptocurrency,” Kefer shared with the I-Team. These scams often involve elaborate impersonation schemes or deceitful investment opportunities, all designed to lure victims into a false sense of security.
In the last five years, the number of such fraud cases has surged dramatically, with the Secret Service now investigating several instances each week. One recent victim was the owner of a Nothing Bundt Cakes franchise, with multiple outlets across the Chicago area.
Kefer described a scenario where an employee received a phone call from someone using voice replication technology to convincingly mimic the business owner. This technological disguise made the caller’s deceit all the more credible, underscoring the need for increased awareness and vigilance against these sophisticated scams.
Kefer says the cyber criminal then convinced the employee to take all the cash from the register, go to a cryptocurrency ATM and send it to them. The amount of audio needed for a voice dupe is only about three seconds, according to Kefer.
“We have known that this technology has existed for years, but slowly, we’re seeing that this is happening more often,” Kefer said.
While cyber crime is now a major focus, the Secret Service still has its eye on cold hard counterfeit cash as people shop.
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Another warning was shared as preparations for the holidays begins: new sophisticated credit card skimming from organized transnational crime syndicates.
“We’re seeing them coming from different countries around the world and operating in the in the U.S.,” said James Morley, Deputy Special Agent in Charge, U.S. Secret Service Chicago field office.
Morely says criminal organizations work with local thieves to place skimmers at points of sale, but with an update.
“The skimmers have adopted Bluetooth technology,” Morely said. “And when that card gets skimmed by that device, it’ll automatically get sent via Bluetooth to that phone and then get picked up by a computer or phone anywhere in the world. So, it’s not uncommon where you’ll have a card skimmed here in Chicago and then utilized five minutes later in New York.”
Morely recommends people to call their credit card company if they suspect fraud and to use tap to pay options when possible. Those can be exploited as well, but rarely.
Both Secret Service agents the I-Team spoke with recommended physically shaking the point-of-sale terminal to see if there is a device that shouldn’t be there, but they say as technology evolves, so do criminals working to exploit the unsuspecting.
