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Deepfake Fraud impostor defrauded 26 million dollars by posing as CFO in Hongkong MNC

Deepfake Fraud impostor defrauded 26 million dollars by posing as CFO in Hongkong MNC
Written by Manoj Kadam
Deepfake Fraud impostor defrauded 26 million dollars by posing as CFO in Hongkong MNC

Deepfake Fraud impostor defrauded 26 million dollars by posing as CFO in Hongkong MNC

The scope of fraud being done through deepfake is increasing. According to a report, a Hong Kong multinational company was defrauded of $26 million (about Rs 215 crore). Hong Kong police say this is the first case of its kind. It is being told that cyber criminals made a video conference call by posing as the Chief Financial Officer or CFO of the company. During this time, orders were given to transfer money and 26 million dollars were embezzled.

AFP report states that an employee of a multinational company became a victim of fraud. He got a video conferencing call. The people seen in the call were cyber criminals, but by using deepfake technology, they had posed themselves as the CFO and other officers of the company. The employee who became a victim of deepfake could not understand the fraud.

Police received the complaint about the incident on January 29. By then the company had suffered a loss of $26 million through 15 transfers. Police have not disclosed the name of the company. No one has been arrested yet in the case.

The employee who became a victim of deepfake works in the finance department of the company. The scammers identified themselves as the UK-based Chief Financial Office of the company. Several people were involved in the call, out of which only the victim was real, the rest had changed their identities using deepfake technology.

This is how he became a company officer

According to the report, audios and videos of real officers of the company were available on the internet i.e. YouTube etc. Cybercriminals copied them and became impersonators using deepfake technology. It has also been revealed that the video shown to the victim during the conference call was pre-recorded. The accused did not have any conversation with the victim.

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Manoj Kadam

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