The Hong Kong branch of a multinational company lost HK$200 million (US$25.6 million) to deepfake fraudsters. The fraudsters used publicly available video and audio footage to create convincing digital representations of the company's finance director and other employees. They instructed a finance employee to carry out a transaction totaling HK$200 million. The employee made 15 wire transfers to five Hong Kong bank accounts before realizing it was a scam. Hong Kong police are investigating the case and warning of the growing use of deepfake technology for fraud. Senior Inspector Tyler Chan Chi-wing recommended verifying the authenticity of people in video calls by asking them to move their head or ask questions.
Multinational reportedly loses HKD 200 million to deepfake fraud
Support our independent, free-access reporting. Any contribution helps and secures our future. Support now:
News, tests and reports about VR, AR and MIXED Reality.Sony releases and announces new games for Playstation VR 2 Playstation VR 2: Sony is testing PC VR support One of the best VR city builders is coming to Playstation VR 2 MIXED-NEWS.com
Join our community
Join the DECODER community on Discord, Reddit or Twitter - we can't wait to meet you.