Fake CFO oversees million-dollar scam
A British engineering group employee believed he was talking to his CFO and colleagues during a video call, resulting in the transfer of millions into malicious accounts. However, these so-called colleagues were actually AI-created fakes.
Arup, a prominent engineering firm known for its work on notable projects like the Sydney Opera House and Beijing's "Bird's Nest" stadium, recently encountered a deepfake scam. The company confirmed to the Financial Times that two things were used deceitfully in this case: deepfakes (fake videos generated by AI) and voice impersonations. They provided no additional details as the situation is still under investigation.
An Arup employee in Hong Kong became a victim of this advanced scam. According to the police, the employee had thought he was participating in a legitimate video conference with his boss and other employees from the company's UK branch. However, these individuals were just AI-generated decoys.
Initially, the Hong Kong-based employee was suspicious of the event because it involved a "secret transaction." However, the deepfake creations, which appeared and sounded just like his actual colleagues, convinced him otherwise. He then proceeded to transfer the equivalent of $25.5 million USD through 15 transactions into various accounts.
As time passed, the employee became skeptical again and raised his concerns with the London headquarters. It was then that the fraud was uncovered.
With 18,000 employees worldwide and annual revenue totaling 2.3 billion euros, Arup is a globally recognized engineering company.
Deepfakes, which are generated using artificial intelligence, can create highly realistic videos deceiving people. In this case, the personalities of the victims' real-life colleagues were convincingly mimicked, and these mimics were used to steal a substantial amount of money.
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This incident highlights the increasing threat of artificial intelligence in criminal activities. The deepfake scam that targeted Arup resulted in the loss of millions due to the deception of AI-generated fakes posing as company employees. Moreover, the use of deepfakes and voice impersonations adds a new layer of complexity to cybercrimes, making it harder for victims to distinguish between real and fake.
Source: www.ntv.de
