However, cyber experts believe such tools aren’t enough to prevent voice AI scams because it is hard for an average victim to doubt the scammer amid a distress call. McAfee has predicted that in 2024, deepfakes will pose greater risks of identity theft, phishing scams as well as cyber bullying among children.ĪI service providers are aware of these downsides and therefore platforms like ElevenLabs are offering voice biometric or voice classifier tools to identify whether an audio was cloned using AI. The firm surveyed 7,054 people from seven countries, including 1,010 from India. Nearly 83% of the Indian victims said they had lost money, with 48% of them losing more than Rs 50,000. In the insurance sector, voice cloning intensifies challenges by enabling fraudulent claims through fake audio recordings.”Īccording to a recent survey by cybersecurity firm McAfee, 47% of Indian adults have experienced or know someone who has experienced some kind of AI voice scam, which is almost double the global average (25%). “In the financial sector, voice cloning compromises secure access, potentially leading to unauthorised account entry and eroding trust in voice-based authentication.

“The surge in free-to-use voice cloning tools poses substantial risks in consumer and industry domains, such as identity theft and financial fraud,” said Vaibhav Tare, chief information security officer, Fulcrum Digital. Voice cloning can be abused for committing multi-million dollar organised scams in banks, government bodies and almost any large organisation, cautioned experts. Several other such incidents of AI voice scams have been reported from Telangana and Karnataka this year. On Tuesday, a Lucknow resident registered a police complaint after having been allegedly duped of Rs 90,000 because of a phone call from a scammer who sounded exactly like one of the victim’s relatives.

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