- Fraud, Risk
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Another tale from the “We Are Officially in the Future” files: You may have seen the story a few weeks back about an AI deepfake that cost a financial services firm $25 million. You probably didn’t see any tips on how to keep that from happening to your bank. We’ve got some of those below. But first, a brief recap for those who are unfamiliar.
The place: Hong Kong
The time: The present (although … it sure does feel like the future sometimes).
The setting: A video conference at a multinational firm. On the call are a finance staff member at the firm, the firm’s CFO, and several of the finance worker’s colleagues. Only the CFO and the colleagues are not who – or what – they appear to be: They are AI deepfakes that, as deepfakes do, look and sound exactly like the people they are impersonating.
You see where this is going: The finance worker was asked to carry out a transaction that wound up enriching the fraudsters behind the scheme.
From CNN: “Believing everyone else on the call was real—(INSIDER INTERJECTION: Such a 2019-era assumption)—the worker agreed to remit a total of $200 million Hong Kong dollars—about $25.6 million.”
How to Detect a Deepfake
Ars Technica, in covering the exploit, suggests the following:
Beyond that, the University of Miami’s Department of Information Technology says that other clues could include:
And be careful. As ING coaches in an article on its website, “the faces you trust could betray you.”
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