Hong Kong finance worker falls prey to deepfake video call, loses $25 million after interaction with ‘CFO’
Hong Kong-based finance worker conned out of $25 million in deepfake scam.
A Hong Kong-based finance employee has been duped of $25 million after after falling prey to a deepfake scam. The worker – affiliated with a multinational company – was persuaded to part with his funds after a video call from his 'Chief Financial Officer and other employees. Hong Kong police have reportedly made six arrests in connection with a slew of deepfake scams that have surfaced in recent months.
The worker had been suspicious after receiving an email requesting a secret transaction. However he eventually sent the scammers a total of $200 million Hong Kong dollars after becoming convinced of their authenticity during the group video call.
“(In the) multi-person video conference, it turns out that everyone [he saw] was fake,” senior superintendent Baron Chan Shun-ching told public broadcaster RTHK.
According to reports quoting the Hong Kong police, the case is the latest in a string of deepfake scams across the city. Fraudsters have taken to using deepfake technology to modify existing footage in order to cheat people out of money.
How can someone spot a deepfake video call?
According to a recent Bloomberg Opinion column written by Parmy Olson, there are several visual cues that can be used to identify deepfake footage. While the technology is advancing rapidly, deepfakes remain unable to execute complex movements in real time.
- Would-be victims can ask their video conference counterparts to write a word or phrase on a piece of paper and show it on camera. They can also watch out for unique gestures such as waving a hand or picking up a nearby object — both of which can be difficult for deepfakes to replicate convincingly in real-time.
- Look out for discrepancies in lip syncing or weird facial expressions that go beyond a typical connection glitch.
- Employ multi-factor authentication. For sensitive meetings, consider involving a secondary conversation via email, SMS or an authenticator app.
- Use other secure channels. For critical meetings that will involve sensitive information or financial transactions, you and the other meeting participants could verify your identities through an encrypted messaging app like Signal or confirm decisions such as financial transactions through those same channels.
- Make sure that you’re using the latest version of your video conferencing software in case it incorporates security features to detect deepfakes.
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Business NewsNewsWorldHong Kong finance worker falls prey to deepfake video call, loses $25 million after interaction with ‘CFO’
First Published:6 Feb 2024, 11:38 PM IST
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