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Finance Worker Duped Into $25M Transfer by Deepfake AI

via Cash & Co.
This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.

A finance worker at a global firm was deceived into transferring $25 million to scammers who used deepfake AI technology to create a fake video call with what appeared to be the company’s CFO and other staff members.

Hong Kong police revealed the worker’s initial suspicion of a phishing email, but his concerns were dismissed when the deepfake representations convincingly resembled his colleagues.

This incident reflects a broader trend of criminals leveraging deepfake tech for fraudulent activities.

Hong Kong police have arrested six individuals in connection with similar schemes, including the use of AI deepfakes to deceive facial recognition programs.

Senior superintendent Baron Chan Shun-ching reportedly said, “(In the) multi-person video conference, it turns out that everyone [he saw] was fake.”

The fraudulent transaction was only discovered after the worker verified the details with the company’s headquarters.

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