AI Voice Generation: New Way To Hack Bank Accounts

• AI voice generation software can be used to replicate voices and gain access to bank accounts.
• Lloyds Bank’s Voice ID program was breached using the software.
• Anyone with access to voice recordings could potentially use AI voice generation software to hack bank accounts.

A tech writer recently discovered that AI voice generation software can be used to breach bank account security measures. The software was used to replicate a synthetic voice that could access account information, including balances and recent transactions. This article will discuss the dangers of AI voice generation software, how it is used, and what measures banks can take to prevent fraudulent activity.

The Dangers of AI Voice Generation Software

AI voice generation software can create synthetic voices that are capable of saying whatever text is entered into the site. This puts everyone at risk as anyone with access to a voice recording could potentially use the software to replicate a person’s voice and gain access to sensitive information.

Joseph Cox, a tech writer for Vice, recently tested the security measures of his bank’s automated service line by using a clip he had made with an AI voice creation tool. Within seconds, he was given access to his account information, including balances and recent transactions. He later tried the same thing with an account at Lloyds Bank, where his first attempt failed, but after having the software read longer texts to improve the believability of its cadences, he did manage to gain access.

How AI Voice Generation Software Works

To use AI voice generation software, a person records a few minutes of speech and uploads it to the software. The software then creates a synthetic voice that is capable of saying whatever text is entered into the site. The software is easy to use and does not have robust safeguards in place to prevent abuse.

Banks Using Voice Authentication Technology

Many banks, including Wells Fargo, TD Bank, and Chase, use voice authentication technology to allow users to conduct banking activities over the phone, such as checking account balances and transaction history, and transferring money. Lloyds Bank boasts that its Voice ID program is safe and unique to each person, analyzing more than 100 characteristics, but apparently, it cannot differentiate between human voices and AI-generated ones.

Possible Consequences

As AI tools continue to evolve and improve at a rapid pace, what seem like cutting-edge authentication measures now could soon become very easy to breach. Rachel Tobac, SocialProofSecurity CEO, recommends that organizations leveraging voice authentication switch to a secure method of identity verification, like multi-factor authentication, as soon as possible. AI voice generation technology makes it possible for people to breach a person’s account without having ever interacted with them in real life

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