Three people have been indicted in New York over an alleged scheme that used artificial intelligence to impersonate company chief executives and lawyers, netting about US$129 million, the Associated Press reports.
Prosecutors say the group targeted thousands of companies around the world over more than a year and a half. The charges include wire fraud, aggravated identity theft and money laundering. The allegations have not been tested in court.
How the scam allegedly worked
According to court documents cited by AP:
- An email, apparently from the CEO, asked someone in accounts for help with a confidential financial deal.
- A phone or video call followed, using AI to copy the CEO’s voice and sometimes their image.
- The employee was told to contact a lawyer at a major law firm, also impersonated.
- The “lawyer” directed large payments to bank accounts around the world.
- The money was converted into cryptocurrency to hide where it went.
Prosecutors say one defendant kept a handwritten script titled “Lawyer Call” to help him pass as a UK attorney.
Who was hit
Named victims include hospital systems in Missouri and California, a bank in Rhode Island, a UK fintech, a Massachusetts mutual fund company and a Florida pet food company.
The three accused are from Spain, the UK, Israel and the United Arab Emirates, and were arrested between June and September, AP reports.
Why it matters here
This is business email compromise with AI layered on top. The defence is still process: call-backs to known numbers, two-person approval for large transfers, and a rule that secrecy or urgency is a reason to slow down.
