In the February issue of the Journal of Financial Planning, MQ Partner Andy Baxley, CFP®, CIMA®, MSFP published the article: When Clients are Compromised about the threat of new financial scams and how to keep your clients safe.
Imagine the following scenario—your client gets a call from someone claiming to be you, their trusted adviser. The person sounds just like you and knows many of the important details about your client. They alert your client about an urgent security issue and provide them with instructions to wire funds to a “safe” third-party account.
What I’m describing is not science fiction. Artificial intelligence (AI) voice cloning technology already has the power to mimic anyone’s voice with chillingly realistic results. CBS News reports that scammers are already using this technology to mimic the voices of victims’ friends and family.
Congratulations on a great article Andy!