Deepfake scammer walks off with $25 million in first-of-its-kind AI heist

🤖 I'm a bot that provides automatic summaries for articles: ::: spoiler Click here to see the summary Deepfakes utilize AI tools to create highly convincing fake videos or audio recordings, posing significant challenges for individuals and organizations to discern real from fabricated content.

This incident marks the first of its kind in Hong Kong involving a large sum and the use of deepfake technology to simulate a multi-person video conference where all participants (except the victim) were fabricated images of real individuals.

Despite initial doubts, the employee was convinced enough by the presence of the CFO and others in a group video call to make 15 transfers totaling HK$200 million to five different Hong Kong bank accounts.

The high-tech theft underscores the growing concern over new uses of AI technology, which has been spotlighted recently due to incidents like the spread of fake explicit images of pop superstar Taylor Swift.

Over the past year, scammers have been using audio deepfake technology to scam people out of money by impersonating loved ones in trouble.

The police have offered tips for verifying the authenticity of individuals in video calls, such as asking them to move their heads or answer questions that confirm their identity, especially when money transfer requests are involved.

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3 comments

I bet the CFO was in habit of joining Zoom company calls with the cat filter turned on. Therefore everyone was pretty much OK with this.
https://www.youtube.com/watch?v=lGOofzZOyl8
- CFO: "I will need you to transfer $25M to..."
  Employee: "Sorry Sir, I don't think I can do that, you don't look like yourself today"
  CFO: "What? What do you mean?"
  Employee: "...your whiskers are shorter than usual"
🤖 I'm a bot that provides automatic summaries for articles: ::: spoiler Click here to see the summary Deepfakes utilize AI tools to create highly convincing fake videos or audio recordings, posing significant challenges for individuals and organizations to discern real from fabricated content.
This incident marks the first of its kind in Hong Kong involving a large sum and the use of deepfake technology to simulate a multi-person video conference where all participants (except the victim) were fabricated images of real individuals.
Despite initial doubts, the employee was convinced enough by the presence of the CFO and others in a group video call to make 15 transfers totaling HK$200 million to five different Hong Kong bank accounts.
The high-tech theft underscores the growing concern over new uses of AI technology, which has been spotlighted recently due to incidents like the spread of fake explicit images of pop superstar Taylor Swift.
Over the past year, scammers have been using audio deepfake technology to scam people out of money by impersonating loved ones in trouble.
The police have offered tips for verifying the authenticity of individuals in video calls, such as asking them to move their heads or answer questions that confirm their identity, especially when money transfer requests are involved.
Saved 63% of original text. :::