How’s this for clever – and frightening? Scammers deepfaked various employees on a video conference and managed to scam $25 million from a Hong Kong based firm.

The scam used digitally recreated versions of the company’s chief financial officer, along with other employees, who appeared in a live deepfaked video conference call instructing an employee to transfer funds. They included active faces and voices that were good enough to fool them.

The scam was initially uncovered following a phishing attempt, when an employee in the finance department of the company’s Hong Kong branch received what seemed to be a phishing message, purportedly from the company’s UK-based chief financial officer, instructing them to execute a secret transaction. 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. 

Articles:

• https://www.scmp.com/news/hong-kong/law-and-crime/article/3250851/everyone-looked-real-multinational-firms-hong-kong-office-loses-hk200-million-after-scammers-stage
• https://arstechnica.com/information-technology/2024/02/deepfake-scammer-walks-off-with-25-million-in-first-of-its-kind-ai-heist/