Hong Kong: Finance worker tricked with ‘deepfake’ ends up paying USD 25 million to fraudsters
The Hong Kong police have revealed a disturbing case of fraud involving a finance worker who was tricked out of a staggering USD 25 million by fraudsters using ‘deepfake’ technology. The elaborate scam involved the worker attending a video call, thinking he was interacting with several colleagues. However, unbeknownst to him, everyone on the call, including supposed coworkers, were ‘deepfake’ recreations. The worker initially grew suspicious after receiving a message from the company’s CFO, talking about the need for a secret transaction. However, the doubts were pushed aside when the video call seemed convincing, with the other participants appearing and sounding like his colleagues. It wasn’t until he reached out to the company’s head office that the scam was uncovered.
Senior Superintendent Baron Chan Shun-ching explained that the finance worker believed that everyone on the video call was real and subsequently agreed to remit 200 million Hong Kong dollars. This case highlights the growing concern over the use of deepfake technology by criminals. Hong Kong police have made six arrests related to deepfake scams, emphasizing the need to combat this emerging trend.
In another alarming revelation, it was disclosed that fraudsters used eight stolen Hong Kong identity cards, which had previously been reported as lost, to make numerous loan applications and bank account registrations. AI deepfakes were employed to deceive facial recognition programs on at least 20 occasions by imitating the individuals pictured on the stolen identity cards.
The sophistication of deepfake technology has become a global concern, with authorities worried about its potential for nefarious activities. Earlier this year, AI-generated explicit images of American pop star Taylor Swift circulated on social media, highlighting the damaging consequences of artificial intelligence technology. These photos, portraying the singer in sexually suggestive positions, were viewed millions of times before being removed.
The finance worker targeted in the deepfake scam remains unidentified, as do the specifics of the company involved. However, this incident serves as a stark reminder of the need for vigilance in the face of rapidly advancing technologies that can be misused for fraudulent purposes.
As authorities work to address the rising threat posed by deepfakes, it is crucial for individuals and organizations to exercise caution and verify the authenticity of communications and interactions. By staying informed and implementing robust security measures, the risks associated with deepfake scams can be mitigated.
In conclusion, the case of the finance worker tricked with a deepfake video call, resulting in a loss of USD 25 million, highlights the alarming potential of this emerging technology. With several arrests made in connection with deepfake scams, law enforcement agencies are taking steps to combat this fraudulent activity. As the use of deepfakes becomes more sophisticated, individuals and organizations must remain vigilant to protect themselves from falling victim to these deceitful practices.
