AI deepfake fools CEO into transferring a quarter of a million euros

A fraudster has used an AI-assisted deepfake to scam a company into wiring money to a third-party

The CEO of an energy firm based in the UK sent €220,000 to a third-party at the request of who they believed to be their superior.

Speaking to the Wall Street Journal, Rüdiger Kirsch – a fraud expert at the unknown company’s insurance group – said that the victim had been fooled by the voice, believing it to be that of their boss owing to his German accent and distinctive “melody”.

The caller, who had tried the company three times, instructed the CEO to send the money within the hour to the bank account of their Hungarian supplier. It is believed that the money was then moved to an account in Mexico, then distributed to multiple locations thereafter.

Deepfakes are becoming hard to tell apart

AI-generated deepfakes are becoming harder to differentiate from true speech as the technology becomes more widely available. Last month, Facebook and Twitter were encouraged to combat deepfake videos in the run-up to next year’s US elections.

With a lot of concern over deepfakes becoming the new fake news, some AI companies have displayed their ability to create eerily realistic deepfakes and AI-assisted speech synthesis, not only to entertain but also to warn people of the dangers. 

Dessa, an AI company based in Toronto, recently displayed its capabilities by sharing details of their speech synthesis model of Joe Rogan, a popular podcaster and sports commentator. 

To mimic Joe Rogan’s voice, Dessa created a text-to-speech deep learning system called RealTalk, which uses text inputs to generate speech indistinguishable from reality. 


“Hey Joe Rogan, it’s me, Joe Rogan. Please come save me, man. These artificial intelligence guys have trapped me in a machine,” the AI says in the video, perfectly mimicking Joe Rogan’s distinctive voice and intonation.

In a blogpost, Dessa’s principal machine learning architect, Alex Krizhevksy, warned that “human-like speech synthesis is soon going to be a reality everywhere.”

“The societal implications for technologies like speech synthesis are massive. And the implications will affect everyone. Poor consumers and rich consumers. Enterprises and governments.”

Luke Conrad

Technology & Marketing Enthusiast

Is It Time for a VMware Alternative?

Wind River • 22nd May 2025

Companies have options when it comes to replacing VMware as their cloud platform, to address rising costs, support concerns, and a shrinking partner ecosystem. If you are ready to contemplate a different vendor, here are five reasons why Wind River Cloud Platform should be on your short list of VMware alternatives.

AI Leads as VivaTech Unveils Top 100 Startups

Viva Technology • 14th May 2025

Viva Technology has unveiled the first edition of its “Top 100 Rising European Startups for 2025,” spotlighting the most promising young companies shaping Europe’s tech future. Germany, France, and the UK lead the ranking, which highlights high-growth startups across 13 countries. Artificial intelligence dominates the list, with 15 companies spanning AI agents, models, and infrastructure....

Birmingham Unveils the UK’s Best Emerging HealthTech Advances

Kosta Mavroulakis • 03rd April 2025

The National HealthTech Series hosted its latest event in Birmingham this month, showcasing innovative startups driving advanced health technology, including AI-assisted diagnostics, wearable devices and revolutionary educational tools for healthcare professionals. Health stakeholders drawn from the NHS, universities, industry and front-line patient care met with new and emerging businesses to define the future trajectory of...

Why DEIB is Imperative to Tech’s Future

Hadas Almog from AppsFlyer • 17th March 2025

We’ve been seeing Diversity, Equity, Inclusion, and Belonging (DEIB) initiatives being cut time and time again throughout the tech industry. DEIB dedicated roles have been eliminated, employee resource groups have lost funding, and initiatives once considered crucial have been deprioritised in favour of “more immediate business needs.” The justification for these cuts is often the...

The need to eradicate platform dependence

Sue Azari • 10th March 2025

The advertising industry is undergoing a seismic shift. Connected TV (CTV), Retail Media Networks (RMNs), and omnichannel strategies are rapidly redefining how brands engage with consumers. As digital privacy regulations evolve and platform dynamics shift, advertisers must recognise a fundamental truth. You cannot build a sustainable business on borrowed ground. The recent uncertainty surrounding TikTok...