Technological advances, like AI voice cloning and deepfakes, are fueling new scams and fraud. One example is virtual kidnapping, where criminals use these technologies to falsely claim that a valued individual has been kidnapped, demanding a ransom from the organization to ensure their safety.

Virtual kidnapping can take several forms, but most typically involve an extortion plot where the goal is to pressure the victim into paying a ransom to supposedly free someone who is being threatened with harm or death. Virtual kidnappers rely on deception and threats to force the victim into making a quick payment before the scam unravels.

Key aspects of a virtual kidnapping attack include:

• Targeting a potential victim: Criminals often identify a person or organization—such as a credit union—that can afford to pay a ransom, typically demanding the release of a high-ranking employee, like a board member or C-suite executive.

• Gathering voice biometrics: Attackers may collect audio samples of the victim’s voice, often by scanning their social media profiles.

• Crafting a persuasive narrative: The scammers create an emotional story designed to cloud the victim’s judgment and make them act impulsively.
• Timing and logistics: The criminals tend to execute the scam when the victim is away from the supposed kidnappee for an extended period, allowing the attackers to work with less interruption.
• Making the call: The perpetrators may use voice modulation technology to make their voice sound more threatening or intimidating. They might also play a deepfake recording of the supposed kidnapped individual, adding legitimacy to their ransom demand.

For more information and risk mitigation tips, read the full alert at: Trustage.com (Password and log-in required) select “Business Protection Solutions” and then click on “Business Protection Resource Center” and go to “Risk Alerts Library.”