2024-02-05
196
1 minutes.


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.

Fraudsters used deepfake video to trick financial officer into paying 25 million

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.

Fraudsters used deepfake video to trick financial officer into paying 25 million

Scam discovered

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.

Fraudsters used deepfake video to trick financial officer into paying 25 million

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.

Glossary

  • 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.

Links

Answers to questions

What did the Hong Kong police report?

Hong Kong police report a massive scam involving a deepfake video of a CFO that resulted in the company losing $25 million.

What is the essence of this scam?

An employee in the finance department of a large company became a victim of fraud after receiving a deepfake video of the CFO and his colleagues. He was deceived and forced to transfer $25 million to the scammers' accounts.

What suspicions did the employee have?

The employee initially suspected that the email 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.

When was this scam discovered?

The scam was discovered only after the employee contacted the company's head office. Hong Kong police have already launched an investigation and made several arrests.

How were deepfakes used in this situation?

To deceive facial recognition programs, artificial intelligence was used to create deepfake videos. Several accounts were opened fraudulently and numerous loan applications were made using stolen identities.

Copywriter Elbuz
Brief description
According to Hong Kong police, scammers used a deepfake video of a CFO to trick a company employee into paying out $25 million. Find out more about this sinister scam.
Article Target
Tell us about a case where a deepfake was used for fraud
Style
Informational
Target audience
People interested in cybersecurity and modern fraud techniques


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According to Hong Kong police, scammers used a deepfake video of a CFO to trick a company employee into paying out $25 million. Find out more about this sinister scam.


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