Major AI Fraud Scheme Foiled in Greece

On November 16, 2024, Greece’s Anti-Money Laundering Authority successfully thwarted a significant fraud attempt that used artificial intelligence, targeting an American clinic with a fraudulent demand for €4.5 million. This incident underscores the alarming ways in which AI technology can be exploited for criminal purposes.

The scheme involved an individual from Europe who had established a company in Thessaloniki. This suspect reached out to the accounting manager of the targeted clinic, requesting a considerable fund transfer. To bolster the credibility of the request, they allegedly employed AI to mimic the voice of the clinic’s CEO, effectively deceiving the recipient.

However, the abnormality of the request sparked immediate suspicion, prompting an investigation that led to the discovery of the fraudulent scheme. This probe encouraged international cooperation, as the FBI issued alerts to law enforcement agencies—including those in Greece—to assist in tracing the incident. Authorities eventually traced the fraudulent funds back to the individual’s company in Thessaloniki.

This event highlights a growing trend of using advanced technology, such as AI, in sophisticated fraud schemes. As criminals become more tech-savvy, there is a pressing need for enhanced vigilance and collaboration among international law enforcement agencies to combat such threats effectively.