AI Law - International Review of Artificial Intelligence LawCC BY-NC-SA Commercial Licence
G. Giappichelli Editore

27/11/2024 - Greece Takes Down AI-Driven Financial Fraud Network (Greece)

argument: Notizie/News - Criminal Law

Source: Ekathimerini

Greek authorities recently dismantled a sophisticated fraud scheme that leveraged artificial intelligence (AI) tools to deceive victims and extract financial information. The operation involved advanced generative AI systems capable of mimicking human speech and behavior, which were used to impersonate legitimate organizations and gain victims’ trust.

The investigation revealed that the perpetrators used AI to create highly convincing phishing emails, fake customer service interactions, and fraudulent financial transactions. Authorities worked with cybersecurity experts to track and neutralize the network, which had reportedly targeted hundreds of individuals across Europe.

The case highlights the growing misuse of AI in cybercrime and underscores the need for robust cybersecurity measures and international cooperation to combat such threats. The article concludes by calling for stricter regulations and the development of AI tools designed to counteract fraudulent activities and protect consumers.