Multinational firm scammed by deepfake video meeting, loses HK$200 million

During the meeting, the scammers were careful not to interact too much with the victim, and kept it short to just various orders before abruptly ending it. (Representational Image)

A multinational firm's office in Hong Kong has been scammed for HK$200 million using deepfake technology.

According to a report by South China Morning Post, the scammers used a digitally recreated avatar of the company's Chief Financial Officer, who ordered the staff to transfer money during a video call.

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'Deepfakes' are digitally manipulated versions of real human beings that are created using various generative methods to copy a person's facial appearance. This is done by leveraging artificial intelligence (AI) and machine learning, creating a convincing digital clone of a real person.

Everyone in the video call was fake, created using publicly available video footage, splicing and manipulating them to create a convincing video conference environment.

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During the meeting, the scammers were careful not to interact too much with the victim, and kept it short to mention only a few orders before abruptly ending the call. After that, they stayed in touch by messaging the clients, exchanging emails, and holding one-on-one video calls.

A few days ago, Bollywood star Akshay Kumar was the victim of a deepfake that used his likeness to promote gambling. Popular singer/songwriter Taylor Swift also fell victim to lewd deepfakes circulating on the internet.