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HomeTechnologyCompany Loses Rs 200 Crore In Deepfake Scam Via Fake CFO Video...

Company Loses Rs 200 Crore In Deepfake Scam Via Fake CFO Video Call


New Delhi: The prevalence of deepfakes on the web usually impersonating distinguished figures for malicious intent has develop into more and more alarming. An identical incident occurred in Hong Kong the place scammers utilized deepfake know-how to manufacture a video assembly, ensuing within the astonishing theft of $25.6 million. This incident underscores the numerous dangers posed by deepfake know-how and highlights the pressing want for measures to fight its misuse.

As per a South China Morning Post report, the same incident occurred with a Hong Kong-based firm. Scammers utilized extremely refined deepfake know-how to deceive the corporate’s native department throughout a manipulated video convention name. Allegedly, the fraudsters digitally impersonated the corporate’s Chief Financial Officer to difficulty directions for cash transfers. (Also Read: Bumble Introduces AI-Driven Feature To Block Spam, Scams, And Fake Profiles; Check Details)

According to the publication, all people collaborating within the video calls apart from the sufferer had been pretend representations of precise individuals. “The scammers applied deepfake technology to turn publicly available video and other footage into convincing versions of the meeting’s participants,” the report mentioned. (Also Read: Telegram Redesigns Voice And Video Calls In Its New Update; Check Out The Changes)

According to the Hong Kong Police, this rip-off is unprecedented in Hong Kong’s historical past. “This time, in a multi-person video conference, it turns out that everyone you see is fake,” Baron Chan Shun-ching, the performing senior superintendent, was reported as saying.

The officer additional added “They used deepfake technology to imitate the voice of their targets reading from a script.” In whole, 15 transfers had been carried out totaling HK $25.6 million and had been despatched to a number of financial institution accounts in Hong Kong.

This incident comes after a number of cases of celeb deepfakes which have garnered consideration on-line. Last 12 months, there was an incident involving Indian actress Rashmika Mandanna the place her face was superimposed onto a video of a web based influencer. More just lately, pretend specific movies purportedly that includes singer Taylor Swift have additionally circulated extensively on the web.



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