Deepfake Scammers Stage Bogus Conference Videocall and Steal $25 Million From Multinational Company in Hong Kong

Feb 5, 2024 | Political News

Deepfakes are developing to be a real security hazard for individuals and companies, as we’ve come to the point when people can hardly believe in their eyes and ears anymore.

Swindlers are making the most of the new technology to deceive their ‘marks’ into falling for their confidence tricks.

Deepfake is a portmanteau word that mixes ‘deep learning’ and ‘fake’. It’s artificial intelligence used to create convincing images, audio and video that are false, and can be used for many applications, including hoaxes.

Deepfakes, in general, are not illegal, as long as you are explicitly depicting them as such, and not using them for disingenuously misleading people. But that’s exactly what criminals are using it for.