Hong Kong police have uncovered a groundbreaking fraud scheme utilizing deepfake technology to deceive love-struck individuals across Asia. The syndicate reportedly used AI to replace the faces of swindlers with images of attractive women during video calls, amassing HK$360 million (U$46 million) in ill-gotten gains.
Authorities apprehended 27 individuals, including university graduates, involved in establishing fake trading platforms to dupe victims into investing in cryptocurrencies. Men from various countries, including Hong Kong, China, Taiwan, India, and Singapore, fell prey to the elaborate scheme.
This marks the first successful crackdown on a local fraud syndicate in Hong Kong employing deepfake technology for fraudulent activities. The syndicate operated from an industrial unit in Hung Hom, recruiting tech-savvy personnel to carry out their sophisticated crimes.
Senior Superintendent Fang Chi-kin praised the efforts of his team in dismantling the syndicate and preventing further financial harm to unsuspecting individuals.