Capsule · The news app for modern leaders

Trends and Insights

Download
illustration image for the article
5 Feb 2024

Finance Worker Pays $25M After a Call From Deepfake 'CFO'

In an elaborate scam using deepfake technology, fraudsters tricked a finance worker at a multinational company into[ paying $25 million](https://edition.cnn.com/2024/02/04/asia/deepfake-cfo-scam-hong-kong-intl-hnk/index.html) by posing as the firm's CFO during a fake video conference call. The worker, deceived by the realistic appearances and voices of colleagues generated by deepfakes, initiated a substantial financial transfer. This incident highlights the growing sophistication of fraud techniques utilizing AI and deepfake technology, raising significant concerns about identity theft and financial security.