A finance worker at a multinational firm was tricked into paying out $25 million to fraudsters using deepfake technology to pose as the company’s chief financial officer in a video conference call, according to Hong Kong police.

Finance worker pays out $25 million after video call with deepfake ‘chief financial officer’ | CNN::A finance worker at a multinational firm was tricked into paying out $25 million to fraudsters using deepfake technology to pose as the company’s chief financial officer in a video conference call, according to Hong Kong police.

  • Dagwood222@lemm.eeEnglish
    201·
    7 months ago

    [off topic?]

    Similar story from back in the 1980s. Reagan’s deregulation of banks lead to a Wild West atmosphere where bankers felt encouraged to take big risks. [https://en.wikipedia.org/wiki/Neil_Bush] [https://en.wikipedia.org/wiki/Savings_and_loan_crisis]

    One day, a smooth looking customer walks into a Texas bank. He had on the right suit, with the proper Texas power broker Stetson hat and ostrich skin cowboy boots. He had a thick business plan in a beautiful portfolio. He told the bank VP that his company was planning a huge expansion and wanted a bank that could expedite their plans. He asked if the bank could OK a $1 million loan in one business day. The VP assured him they could, and the next morning they presented him with a check. He walked out and was never heard from again.

      • Dagwood222@lemm.eeEnglish
        4·
        7 months ago

        One of the most savage takedowns of the corporate mindset in American history is a Broadway musical “How To Succeed In Business Without Really Trying.”

        The hero’s first step to the top is to find a company that is so big that no one person has any idea of what is actually going on.

        I can think of a dozen recent cases where someone simply lied their way into a billion dollars; the cyptocurrency bank guy and the blood test lady spring to mind.