Deepfake Video Call Scam Cons Company Out Of $25 Million
readwrite, Monday, February 5th, 2024
A multinational company's Hong Kong office was the victim of an elaborate scam using deepfake video technology to impersonate executives and scam the company out of HK$200 million ($25.6 million), local police reported on Sunday
In what police described as the first scam of its kind in Hong Kong, scammers used deepfake technology to digitally recreate company executives and impersonate them on a video conference call. The technology allowed the scammers to generate fake but convincing representations of targeted individuals that replicated their voices and appearances.
The scam began in mid-January when an employee in the Hong Kong branch's finance department received a phishing message, seemingly from the company's UK-based chief financial officer, reports the South China Moring Post. The message claimed a secret transaction had to be conducted. Although initially doubtful, the employee was convinced after being invited to a video call in which the CFO and other familiar employees appeared to be present.