A British multinational design and engineering company, Arup, has confirmed that it was the target of a deepfake scam in Hong Kong. An employee was tricked into paying out $25 million to fraudsters after attending a video call with fake voices and images that resembled colleagues. Fortunately, the company’s financial stability and business operations were not compromised. However, this incident highlights the rising sophistication of deepfake technology and the increasing frequency of cyber attacks such as invoice fraud, phishing scams, and deepfakes. Authorities worldwide are growing concerned about the potential damaging uses of AI-generated deepfakes.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| Arup targeted in deepfake scam | Increase in deepfake scams | More advanced and widespread use of deepfake technology | Sophistication of deepfake technology |
| Employees duped by deepfake re-creations | Increasing sophistication of scams | Heightened awareness and security measures against scams | Growing concern about deepfake technology |
| Rise in attacks on businesses, including deepfakes | Growing number and sophistication of attacks | Greater emphasis on cybersecurity and fraud prevention | Advancements in hacking techniques and AI technology |
| Concerns about the damaging potential of AI technology | Concern about the misuse of AI technology | Stricter regulations and guidelines for AI technology | Potential misuse of AI technology for malicious purposes |