HONG KONG–In a scam that is also a growing threat to credit unions, an unidentified employee who works in finance at a multinational firm here was reportedly tricked into paying $25 million to fraudsters who used deepfake technology to pose as the company’s CFO in a video conference call, according to Hong Kong police.
According to the police, the elaborate scam involved duping the employee into attending a video call with what he thought were several other members of company’s staff, but all of whom were in fact deepfake recreations, CNN reported.
“(In the) multi-person video conference, it turns out that everyone [he saw] was fake,” senior superintendent Baron Chan Shun-ching told the city’s public broadcaster RTHK, CNN stated.
Growing Suspicions
The police official said during a press conference the worker had grown suspicious after he received a message that was purportedly from the company’s U.K.-based chief financial officer.
“Initially, the worker suspected it was a phishing email, as it talked of the need for a secret transaction to be carried out,” CNN reported. “However, the worker put aside his early doubts after the video call because other people in attendance had looked and sounded just like colleagues he recognized.”
Chan said in the belief everyone else on the call was real, the worker agreed to remit a total of $200 million Hong Kong dollars – about $25.6 million, the police officer added, CNN said.
Arrests Made
Hong Kong police said they have made six arrests in connection with such scams.
Chan added that eight stolen Hong Kong identity cards – all of which had been reported as lost by their owners – were used to make 90 loan applications and 54 bank account registrations between July and September in 2020.
Hong Kong police did not reveal the name or details of the company or the worker.
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