- Fraudsters using deepfake technology stole funds from an international company worth $26 million.
- The scammers held a video conference with one of the employees, forging the identities of the company's management.
- The victim transferred the company's assets to five different banks.
An employee of an unnamed international company transferred $25.5 million in corporate funds to scammers after a video conference with fictitious management. About it reported local media quoted Hong Kong Police Cyber Security Division Senior Superintendent Baron Chan.
According to him, the operation to lure money began to be implemented in January 2024. An employee of the company received a fake message from the “CFO” inviting him to participate in a discussion of a confidential transaction.
At the appointed time, the person connected to the video conference where the company’s management gathered. The employee did not suspect that all those present were fake people posing as superiors using deepfake technology.
At the meeting, the scammers convinced the victim to transfer $25.5 million to accounts in five different banks. The funds were sent using 15 transactions. The employee realized that he had become a victim of scammers only after he contacted the company’s central office.
Superintendent Chan noted that this is the first incident of such a fraudulent scheme in Hong Kong.
“We see from this case that scammers can use AI technology in online meetings, so people should be vigilant even in a meeting with a large number of participants,” a law enforcement official said.
Chan believes that the scammers downloaded videos featuring representatives of the company, after which they created deepfakes based on them. According to the victim, during the videoconference all company employees “looked like real people.” Police are not disclosing other details of the investigation.
Let us remind you that we wrote that a hacker hacked the CEO of Algorand’s page and left fake messages.