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Firm Loses HK$200 Million After Deepfake Video Meeting

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A scammer at work.

Criminals used deepfake technology to scam a multinational company out of HK$200 million by digitally recreating its chief financial officer.

Credit: Shutterstock

Employees at the Hong Kong branch of a multinational company were duped into transferring HK$200 million (US$25.6 million) to local bank accounts after a deepfake video conference call with one of the employees.

The scammers used publicly available video and audio footage to create fake digital representations of the company's chief financial officer and other people the targeted employee recognized. The fake images on screen mainly gave orders before the meeting ended abruptly, without actually interacting with the employee. The scammers then stayed in touch with the victim through instant messaging platforms, emails, and one-on-one video calls.

From South China Morning Post
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