Today, fraud has evolved in surprising and disturbing ways. A recent case in Hong Kong has highlighted how fraudsters are using advanced technology.
This is the case, for example, with deepfakes. This incident underscores the need to always be vigilant and well informed about new fraud methods.
Fake video call earns €20 million
Technology is advancing by leaps and bounds. One of the technologies we hear a lot about these months is artificial intelligence. Now, fraudsters are also using it in their scams.
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In this case, an event that took place in Hong Kong could soon spread to the rest of the world. Employees at a company received a fake video call from a manager that was recreated using deepfake technology.
The employees believe that the person on the other end is really their boss. This is what led them to transfer at least 20 million euros. It is difficult to know the truth with such professional and sophisticated techniques.
What is Deepfake, the Most Advanced Fraud Technology?
The scammers used deepfake technology to replicate the voice and appearance of the company’s CEO. During the video call, the workers believed they were talking to their boss, and confidently followed the instructions. It was just a case of deepfake.
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Deepfake is a technology that uses artificial intelligence to create fake videos and audio recordings that appear very real. The technology can replicate voices, gestures, and facial expressions, making it extremely difficult to distinguish between the real and the fake. In the Hong Kong case, fraudsters used this technology to impersonate a top executive and carry out the scam.
Security measures against deepfake scams
This case highlights the importance of always verifying the identity of the person you are speaking to, especially in situations involving financial transfers or sensitive information.
We should not blindly trust what we see and hear on a video call. It is necessary to use additional verification methods, such as phone calls or emails, to confirm the identity of the other person.
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To protect yourself from this type of fraud, it is necessary to follow some security measures:
- Double-check: Always verify the identity of the person you are talking to through a second communication channel.
- Training: Educate employees about new fraud methods and how to recognize them.
- Security Technology: Uses security software that can detect and block deepfake attempts.
- Internal Policies: Implement internal policies that require multiple approvals to transfer funds.
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