New Voice Cloning Scam Has Regulators Scrambling for Solutions: The Kiplinger Letter
As fraudsters add voice cloning technology to their arsenal of deception, regulators are playing catch-up.
 
To help you understand what voice cloning is, how it's part of the rise in AI-assisted scams and what we expect to happen in this area in the future, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest…
Federal regulators are racing to combat a scam straight out of Terminator 2: Voice cloning — where artificial intelligence (AI) is used to impersonate someone for the purpose of stealing personal information and money.
The AI-created voice can trick someone over the phone by making up an emergency requiring urgent action, such as a car crash that lands a loved one in jail, requiring a fast bail payment. Although regulators are behind the eight ball, recent efforts should help.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
 
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
For example, the Federal Communications Commission (FCC) is investigating how voice cloning can be used for robocalls and robotexts. Meanwhile, the Federal Trade Commission has launched a contest for innovators to develop new tech solutions to the problem.
In October, New York City Mayor, Eric Adams, revealed that he used this kind of generative AI voice technology to make robocalls to voters in multiple languages (including Haitian Creole, Mandarin, and Spanish) even though Adams himself does not speak any languages fluently besides English. The realistic-sounding calls are entirely AI-rendered using text that is input into cloning software, Voice Lab, from American software company Eleven Labs.
This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.
Related Content
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

John Miley is a Senior Associate Editor at The Kiplinger Letter. He mainly covers AI, technology, telecom and education, but will jump on other business topics as needed. In his role, he provides timely forecasts about emerging technologies, business trends and government regulations. He also edits stories for the weekly publication and has written and edited email newsletters.
He holds a BA from Bates College and a master’s degree in magazine journalism from Northwestern University, where he specialized in business reporting. An avid runner and a former decathlete, he has written about fitness and competed in triathlons.
- 
 The Original Property Tax Hack: Avoiding The ‘Window Tax’ The Original Property Tax Hack: Avoiding The ‘Window Tax’Property Taxes Here’s how homeowners can challenge their home assessment and potentially reduce their property taxes — with a little lesson from history. 
- 
 Is Mint Mobile's Home Internet a Game-Changer or Just Another Option? Is Mint Mobile's Home Internet a Game-Changer or Just Another Option?Mint Mobile recently unveiled its new home internet service. We break down how it works so you can determine if it's a great value for your needs. 
- 
 Will AI Videos Disrupt Social Media? Will AI Videos Disrupt Social Media?The Kiplinger Letter With the introduction of OpenAI’s new AI social media app, Sora, the internet is about to be flooded with startling AI-generated videos. 
- 
 What Services Are Open During the Government Shutdown? What Services Are Open During the Government Shutdown?The Kiplinger Letter As the shutdown drags on, many basic federal services will increasingly be affected. 
- 
 The Economy on a Knife's Edge The Economy on a Knife's EdgeThe Letter GDP is growing, but employers have all but stopped hiring as they watch how the trade war plays out. 
- 
 Banks Are Sounding the Alarm About Stablecoins Banks Are Sounding the Alarm About StablecoinsThe Kiplinger Letter The banking industry says stablecoins could have a negative impact on lending. 
- 
 Apple Readies for AI Upgrade with New iPhones Apple Readies for AI Upgrade with New iPhonesThe Kiplinger Letter The tech giant has stumbled when it comes to artificial intelligence, but a new batch of iPhones will help it make headway. 
- 
 Japan Enters a New Era of Risk and Reform Japan Enters a New Era of Risk and ReformThe Kiplinger Letter Japan has entered a pivotal moment in its economic history, undertaking ambitious policy and structural reforms to escape from decades of stagnation. 
- 
 How Consumers Are Tinkering with Cutting-Edge AI How Consumers Are Tinkering with Cutting-Edge AIThe Kiplinger Letter Companies launching artificial intelligence tools are jostling for consumer attention. Some products are already building a deep connection with users. 
- 
 After Years of Stagnant Growth, Hope Emerges for EU Economy After Years of Stagnant Growth, Hope Emerges for EU EconomyThe Kiplinger Letter Can a German fiscal push outweigh French political peril?