Deepfake video scams prompt police warning

Fraud makes use of AI technology to steal $25.5 million from HK company

Police are warning businesses and individuals about the growing threat of "AI deepfake" scams after a case in Hong Kong in which a company was deceived out of HK$200 million ($25.5 million) through the use of video conferencing technology.

In the elaborate scheme, a financial employee at the Hong Kong branch of a multinational company received a message purporting to be from the company's chief financial officer in the United Kingdom. The message invited him to participate in a confidential video conference to discuss a transaction.

During the multi-person video call, he interacted with individuals who appeared to be the company's senior executives. However, the participants were actually deepfakes, created using artificial intelligence to superimpose the faces of real people onto fraudulent video footage.