Fraudsters used deepfake video to trick financial officer into paying $25 million
Hong Kong police have reported a massive scam involving a deepfake video of a CFO that resulted in the company losing $25 million. The fraud is being investigated, one of many such cases recently.
Deepfakes scam millions
Employee gets scammed
In Hong Kong, a financial employee of a large company became a victim of scammers who lured him with a deepfake -video of the financial director and his colleagues. The employee was forced to transfer $25 million to the scammers' accounts after a video call.
Suspicions and Confirmation
The employee initially suspected that the letter he received from the CFO was a phishing attempt. However, his doubts were dispelled after a video call, during which the participants in the conversation seemed real.
Scam was discovered only after the employee contacted the head office companies. Hong Kong police are investigating the scam and have already made several arrests.
Use of deepfakes
Officials said artificial intelligence was being used to fool facial recognition programs . As a result, several accounts were registered and numerous loan applications were processed using stolen IDs. The investigation is ongoing.
- Deepfake video is video material created using artificial intelligence that imitates the face and voice of a real person.
- Phishing is a fraudulent attempt to gain access to someone else's confidential information by misleading the user.