BW Cyber founder and president Michael Brice joins the Advisor Turntable Podcast to break down the spiraling potential for cyber criminals to successfully conduct multi-million dollar wire frauds against asset and wealth management advisors. Based on his actual experience leading multi-million dollar wire fraud forensic investigations in conjunction with the FBI, Michael describes how compromised employee email accounts, Caller ID Spoofing, AI voice cloning, and even deepfake video calls are being successfully employed by overseas cyber criminals at an alarming rate. 

Michael walks through real-world examples of multiple fraud investigations in which he has been involved, in which he explains why these attacks are very successful, and outlines the relatively simple steps firms can implement to dramatically reduce wire fraud risks. 

As AI lowers the barrier for attackers, digital communication alone cannot be trusted by themselves. In this podcast, Michael also explains the simple ways that asset and wealth managers (and their clients) can easily prevent the most sophisticated wire frauds.  

Watch the full episode: