Deep Fake Threat: Employee Duped To Transfer $25m!

Deepfake video is the prime example of what technology can do and the threat it poses. Earlier we have seen how celebrities fell prey to the videos. Even the politicians were not spared and they became the prey. The Indian government swung into action and framed guidelines for social media platforms.

Recently, the Deep Fake videos rocked the US as the videos of Joe Biden and a popular singer were widely shared. Joe Biden's videos appearing on social media ahead of the Presidential elections became the talk of the town.

Now another incident came to light which proves that deep fake videos can be used for duping people and scamming others. An MNC lost as much as $25m which loosely translates to around Rs 200 crores in Indian currency.

Going into details, a finance worker fell prey to the deep fake video as he was tricked into paying a big amount. He attended a video call that was attended by the board members. He faced the shock of his life as the video turned out be an AI creation.

An employee who works at a Hong Kong company attended a video call. The chief financial officer and a few board members also attended the call and the worker sent the money. However, it was later found that the video call was bogus and the board members on the video call were deepfake technology.

As per the media reports, the employee was directed to make multiple transactions with various banks and he followed them. Combined the money transferred accounts to HK$200 million or $25m.

A case has been filed with the authorities and they suspect that the fraudsters might have used the old videos of the board members to create the video call.