Deepfake was used to construct all participants in a multi-person video conference that was used to influence the firm, except the victim.
An astounding $25.6 million (more than ₹ 200 crore) scam that was carried out utilizing advanced deepfake technology befell a multinational corporation in Hong Kong, according to a report. According to Hong Kong authorities, the company’s employees were tricked via a multi-person video conference in which all participants—aside from the victim—were produced using deepfake.
A deepfake is a kind of synthetic media that mimics real-world information by manipulating or creating visual and auditory elements through artificial intelligence, frequently with malevolent intent.
As per the study, the offenders created lifelike renditions of the company’s employees, including a digitally replicated chief financial officer, using deepfake technology on publicly accessible video and audio material.
Midway through January, a phishing message purporting to be from the company’s UK-based CFO directed the victim, an employee of the finance department, to carry out a covert transaction.
Despite a brief “moment of doubt,” the staff member fell for the scam following a group video chat. Because the deepfake company employees’ voices on the phone seemed real, the victim followed instructions and transferred $25 million in total to five different Hong Kong bank accounts.
In a nutshell, how the scam unfolded
From the first contact to the victim realizing it was a scam, the whole incident happened in about a week. The authorities claim that con artists used deepfake technology to digitally reconstruct the attendees of the meeting, convincingly mimicking their voices and looks.
Scammers used a prerecorded self-introduction during the video call, provided commands, and then quickly ended it. After reaching out to the victim, the con artists kept in touch with her via emails, video chats, and instant messaging services.
Although the police are actively looking into the matter, no one has been taken into custody as of yet.
