Deepfake scams increase tenfold AI black industry expands rapidly

Since the emergence of ChatGPT, generative artificial intelligence risks have also emerged one after another. Earlier this year, the World Economic Forum listed misinformation and disinformation generated by artificial intelligence as the world's "number one” threat. Last year, Hong Kong's artificial intelligence deepfake (AI) deepfake fraud cases increased tenfold, and yet it could be only a small amount of cases being surfaced. With the support of "deepfake technology", this “black industry” is expanding rapidly.

Earlier last year, Arup, an engineering company headquartered in the UK, was unfortunately involved in a deepfake scam. Employees at its Hong Kong branch were tricked into transferring approximately US$25 million (approximately HK$195 million). They later inquired with the headquarters, only to learn that they had been "trapped"!

The perfect “scam” from AI

This AI scam is designed to be incredibly convincing by mimicking the voice, tone, and writing style of the person or entity it's impersonating. Through advanced natural language processing capabilities, the AI can engage in lengthy conversations, gather personal information, and manipulate individuals into sharing sensitive data or making financial transactions.

As we navigate this new era of AI-driven deception, it's crucial to remain vigilant and skeptical of online interactions. Verifying the identity of the sender through additional means, such as a phone call or in-person conversation, can help prevent falling victim to the perfect scam from AI. Most of all, there are tools like deepfake inspector that allow companies to scan for AI face-swapping scams and be alerted in real-time to potential impersonations.