Deepfake video conference sees criminals escape with US$25 million


In February, a multinational company’s finance team member in Hong Kong made headlines after he transmitted HK$200 million (US$25 million) to cybercriminals who pretended to be the chief financial officer and other colleagues, using deepfake technology, in what the worker thought was a legitimate video conference.

Now it’s been revealed that it was UK engineering group Arup that fell victim to the elaborate scam. When the cybercrime was first brought to light earlier this year, Hong Kong police’s Baron Chan Shun-ching told local reporters: “(In the) multi-person video conference, it turns out that everyone [he saw] was fake.”

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Source: Insurance Business


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