Scammers use deepfakes to steal $25.6 million from a multinational firm

Bad actors continue to use it profound frauds For everything from impersonating celebrities to conning people out of money. The latest case is out of Hong Kong, where a financial officer of an undisclosed multinational was duped into transferring HK$200 million ($25.6 million).

According to Hong Kong police, the fraudsters contacted an employee who posed as the chief financial officer of a company based in the United Kingdom. He was suspicious at first because the e-mail required secret operations, but this is where the deep forgeries come into play. The employee participated in a video call with the “CFO” and other prominent members of the company. In fact, every “person” he interacted with was a deep fake – probably created using public video clips of actual people.

The profound frauds asked the employee to identify himself and then quickly instructed him to make 15 transfers totaling $25.6 million to five local bank accounts. They created a sense of urgency to complete the task and then the call ended abruptly. A week later, the employee checked the survey within the company and discovered the truth.

Hong Kong police have so far arrested 6 people in connection with the fraud. The individuals involved stole eight IDs and made 54 bank account registrations and 90 loan applications in 2023. They also used deep fakes to fool facial recognition software in at least 20 cases.

The prevalence of deepfakes is one of the growing concerns during evolution AI technology. in January, Taylor Swift and President Joe Biden were among those whose identities were forged through deep fraud. In Swift’s case, it was her non-consensual pornographic images and potential financial scams. Le Creuset buyers. In some, the voice of President Biden could be heard Robocalls to New Hampshire votersasking them not to vote in their state’s primaries.

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