UK Bank Reveals 28% Of Adults Have Fallen Victim To AI Voice Scam: 'It Can Clone Your Voice In 3 Seconds And Empty Out Your Bank Account'

Starling Bank, a UK bank, has issued a warning regarding a recent surge in scams that employ artificial intelligence (AI) to mimic individuals' voices.

The British bank is cautioning the global community about the emergence of AI voice cloning scams. According to a press release, the bank is currently handling hundreds of such cases, and these fraudulent activities could potentially target individuals with social media accounts. Based on recent data released by Starling Bank:

• 28 percent of UK adults believe they have been the target of an AI voice cloning scam within the past year.
• However, nearly half (46 percent) of UK adults are unaware of the existence of this type of scam.
• Only 30 percent of UK adults are familiar with the red flags to watch out for if they become the target of a voice cloning scam.

The Rise Of AI Voice Cloning Scams

The same data suggests that criminals can now replicate a person's voice using as little as three seconds of audio. To raise awareness about AI voice cloning scams, Starling Bank has launched the 'Safe Phrases' campaign in conjunction with the government's Stop! Think Fraud campaign.

"People regularly post content online, which has recordings of their voice, without ever imagining it's making them more vulnerable to fraudsters," said Lisa Grahame, chief information security officer at Starling Bank, in the press release.

Starling Bank's Safe Phrases campaign suggests that individuals establish a unique "Safe Phrase" known only to their close friends and family. This phrase can be used to verify the authenticity of their identity during conversations.

Suppose someone is contacted by an individual claiming to be a friend or family member but unfamiliar with the agreed-upon Safe Phrase. In that case, they should immediately suspect that it might be a fraudulent attempt.

A reported case from Arizona, US, last year involved a woman who claimed that scammers utilised AI to replicate her 15-year-old daughter's voice and demanded a $1 million ransom. This situation could have been partially prevented if they had established a Safe Phrase.

Financial fraud offences in England and Wales are on the rise due to the increasingly sophisticated techniques criminals employ to extort money. According to UK Finance, these offences increased by 46 percent last year.

The Dangers Of Voice Cloning For Personal And Financial Security

Last year, it was reported that fraudsters were creating fraudulent job advertisements specifically targeting UK job seekers. These individuals were then deceived into selling counterfeit products online, with the fraudsters ultimately absconding with the profits.

Additionally, Starling's research revealed that the average UK adult has been targeted by a fraud scam five times in the past twelve months. "People regularly post content online which has recordings of their voice, without ever imagining it's making them more vulnerable to fraudsters," said Lisa Grahame, Chief Information Security Officer at Starling Bank.

"Scammers only need three seconds of audio to clone your voice, but it would only take a few minutes with your family and friends to create a Safe Phrase to thwart them. So it's more important than ever for people to be aware of these types of scams being perpetuated by fraudsters and how to protect themselves and their loved ones from falling victim," the top executive added.

She said, "We hope that through campaigns such as this, we can arm the public with the information they need to keep themselves safe. Simply having a Safe Phrase in place with trusted friends and family - which you never share digitally - is a quick and easy way to ensure you can verify who is on the other end of the phone."

To initiate the campaign, Starling Bank has enlisted the participation of renowned actor James Nesbitt. His voice has been cloned using AI technology, underscoring the ease with which anyone could potentially fall victim to such scams.