Deepfake scams have robbed companies of millions. Experts warn it could get worse

Earlier this year, a Hong Kong finance worker was duped into transferring $25 million to a fraudster that had deepfaked his chief financial officer and ordered the transfer via video call.

A deep fake is a video, sound, or image of a real person that has been digitally altered and manipulated, often through artificial intelligence, to convincingly misrepresent them. "The public accessibility of these services has lowered the barrier of entry for cyber criminals — they no longer need to have special technological skill sets," Fairman said.Various generative AI services can be used to generate human-like text, image and video content, and thus can act as powerful tools for illicit actors trying to digitally manipulate and recreate certain individuals.

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How elaborate deepfake scam duped finance worker into paying out $25 millionThe employee attended a video call with people he recognized as the chief financial officer and other corporate officers — but who turned out to be deepfake creations.
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