AI mimics bosses and lawyers: a call no longer approves a payment
Federal prosecutors in New York have charged three men accused of taking more than $129m from companies since 2024 using AI-generated voices and images of chief executives.
An indictment unsealed on 5 November describes how fraudsters allegedly used synthetic voices and images of executives and lawyers to persuade staff to wire money. The funds passed through accounts in nine countries, including Austria, and were converted into crypto-assets.
What happened
According to the Justice Department (Southern District of New York), the defendants are Jacob Soall, 41, of Marbella and Britain, Sharon Hazan, 54, of Israel, and Guy Sheetrit, 42, of Israel and the United Arab Emirates. They were arrested in Spain and Britain between June and September 2026; extradition has been requested. The pattern: an employee receives a message from the supposed boss about a confidential deal, followed by calls with an imitated voice or image; the fake boss then refers the employee to equally fake lawyers at large firms. Prosecutors name six victims with combined losses of about $31.9m, including a British fintech that lost $11.6m, a bank in Rhode Island and two hospital systems. Money went to accounts in America, Spain, Portugal, Greece, the Emirates, Singapore, Austria, Slovakia and China. Each defendant faces seven counts, including wire fraud and money laundering. They are presumed innocent.
What follows
The scam is old; in German-speaking countries it is known as fake-president fraud. What is new is that a voice or a video image no longer proves anything. Protection therefore shifts from spotting fakes to process: call-backs on a known number, a second sign-off, fixed channels for confidential payments. Assessment: banks on the receiving end are exposed too. If accounts in the EU serve as transit points, pressure grows on anti-money-laundering checks and on fast recall of transfers. Insurers covering fidelity losses are likely to ask harder questions about approval rules. That is not yet documented for this case; it follows from the mechanism.
What changes in practice
- Finance departments
- A familiar voice or video image no longer confirms a payment. A call-back on a known number and a second approval are the safeguard.
- Banks
- The indictment says EU accounts served as transit points; money-laundering checks and fast recall of transfers matter more.
- Managing directors
- Public appearances supply voice and image material; internal rules on confidential deals should allow no exceptions.
What to watch
- Extradition of the three defendants and first hearings in New York
- Whether investigators disclose further victims, including in Europe
- Guidance from Germany's BaFin, the Federal Criminal Police Office or banking associations on AI-assisted CEO fraud
Sources
- U.S. Attorney's Office SDNY: Three Foreign Nationals Arrested And Charged In Scheme To Use Super Intelligence To Defraud, 5.11.2026
- SecurityWeek (AP): 3 Charged in Scheme to Use AI to Impersonate CEOs and Attorneys to Steal $129 Million, 5.11.2026
- IBTimes UK: Fake CEOs and Lawyers Tricked Companies Into Sending $129M Using AI, 6.11.2026