Criminals pull off a million-dollar scam with the help of artificial intelligence
Image Credits: Curto News/Bing AI

Criminals use deepfake to deceive multinationals and commit a R$127 million scam

A recent financial attack using artificial intelligence (AI) left a renowned multinational company with a loss of around R$127 million, as reported by the South China Morning Post and mentioned by Folha de S. Paulo.

The scam began with a sophisticated phishing message, which served as bait to initiate contact. The criminals then used public images of the company's chief financial officer, who was in the UK, to create convincing representations of him and other key figures.

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The most alarming part of the scam involved the use of technology deepfake in video calls with employees from the multinational's financial department. This allowed the fraudsters to scam victims, resulting in 15 transfers to bank accounts in Hong Kong. The transfers were directed to five bank accounts in the territory, indicating that the scammers were operating locally. So far, police have not been able to identify the target company or the employees involved.

This episode highlights the emergence of a new challenge in cyberattacks, with the use of deepfake in financial fraud. The situation reveals the vulnerability of companies in the face of advanced technologies.

Concern about scams involving artificial intelligence, such as deepfake and deepvoice, have been on the rise, posing a significant danger to internet security. The multinational's case joins a series of recent incidents, including attacks on the singer Taylor Swift, which fell victim to technology twice in January, with false content disseminated on social media. These events highlight the urgent need to strengthen digital security amid the growing malicious use of advanced technologies.

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