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Deepfake Scam Tricks Hong Kong Finance Worker into $25.6 Million Fraud

In a first-of-its-kind case, scammers used AI-generated deepfakes of company executives in a video call to orchestrate a multi-million dollar heist.

A conceptual image of deepfake technology being used on video calls. A shaded figure is on a computer screen,
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A face emerging from a sea of data.
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Overview

  • A sophisticated deepfake scam in Hong Kong tricked a finance worker into transferring $25.6 million to fraudsters.
  • The scammers used AI to create fake video representations of the company's CFO and other employees in a video conference call.
  • This marks the first reported case in Hong Kong involving deepfake technology in a multi-person video conference scam.
  • Hong Kong police have made six arrests in connection with the scam and are investigating further.
  • Experts and authorities worldwide are increasingly concerned about the misuse of deepfake technology for fraud and disinformation.