Employee loses $25M of firm’s funds after call with deepfake colleagues

An employee was invited to an online meeting with the firm’s chief financial officer and other staff, except none of them were real.

Deepfake scammers managed to trick an employee at a multinational firm into sending out more than $25 million of company funds in an elaborate scam that impersonated multiple company executives in an online video meeting.

In a statement seen on Radio Television Hong Kong (RTHK), Acting Senior Superintendent Baron Chan of the police force’s Cyber Security Division said the incident started last month when the employee received a fake message from the firm’s chief financial officer inviting them to a video call to discuss a confidential transaction.

The scammers used several deepfaked company executives to convince the employee to send $25.5 million of the firm’s funds across 15 transactions to five bank accounts.

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