From Dow Jones & Company:

A Hong Kong multinational company loses nearly $26 million after an employee falls for an AI-generated video conference call. The clerk believed he was speaking with the company’s CFO and carried out 15 transactions totaling HK$200 million to five local bank accounts. Police suspect the fraudster used deepfake technology to generate fake video, adding voices for the online meeting. U.S. regulators warn of increasingly prevalent AI-generated scams, listing such misinformation as a top risk to the global economy. The case comes as AI tools are expected to play a significant role in the upcoming U.S. presidential election. Dangers of deepfakes were highlighted following explicit images of Taylor Swift that went viral – prompting a bill to criminalize digital forgeries.



Read more: AI-deepfaked meeting tricks Hong Kong employee into handing over $25 million