Military Space News
CYBER WARS
Deepfake scam video cost company $26 mnl; Tencent fires 120 for fraud
Deepfake scam video cost company $26 mnl; Tencent fires 120 for fraud
by AFP Staff Writers
Hong Kong (AFP) Feb 4, 2024

Scammers tricked a multinational firm out of some $26 million by impersonating senior executives using deepfake technology, Hong Kong police said Sunday, in one of the first cases of its kind in the city.

Law enforcement agencies are scrambling to keep up with generative artificial intelligence, which experts say holds potential for disinformation and misuse -- such as deepfake images showing people mouthing things they never said.

A company employee in the Chinese finance hub received "video conference calls from someone posing as senior officers of the company requesting to transfer money to designated bank accounts", police told AFP.

Police received a report of the incident on January 29, at which point some HK$200 million ($26 million) had already been lost via 15 transfers.

"Investigations are still ongoing and no arrest has been made so far," police said, without disclosing the company's name.

The victim was working in the finance department, and the scammers pretended to be the firm's UK-based chief financial officer, according to Hong Kong media reports.

Acting Senior Superintendent Baron Chan said the video conference call involved multiple participants, but all except the victim were impersonated.

"Scammers found publicly available video and audio of the impersonation targets via YouTube, then used deepfake technology to emulate their voices... to lure the victim to follow their instructions," Chan told reporters.

The deepfake videos were pre-recorded and did not involve dialogue or interaction with the victim, he added.

China's Tencent fires more than 120 workers for fraud
Beijing (AFP) Feb 4, 2024 - Chinese tech giant Tencent said it last year dismissed more than 120 employees for violating its anti-fraud rules, including for corruption and embezzlement.

The Hong Kong-listed company is the world's top video game maker and the owner of the popular super-app WeChat, which is installed on almost every phone in the country.

Tencent's founder Pony Ma in 2022 described the level of corruption in his company as "shocking", and the firm promised to take action, according to state media reports.

Last year, more than 70 breaches of the code of conduct were reported, Tencent said.

"More than 120 people were dismissed" from the company and nearly 20 were reported to the authorities, the group said in a statement released on Friday.

Some of the sacked employees belonged to the group's PCG branch, responsible for broadcasting content such as news, sport and films.

Others worked in the group's medical services arm, a sector where Tencent's telemedicine applications have huge market share in China.

One of the employees implicated by Tencent was sentenced to four years in prison and fined 100,000 yuan ($14,000), according to the press release.

The announcements come after years of difficulties for China's tech giants.

After a period of meteoric growth, the sector underwent a broad regulatory crackdown by Chinese authorities that started in late 2020.

As a result, billions of dollars in market capitalisation have been lost, and the profits of powerful internet companies have plummeted.

Tencent, which currently has just over 100,000 employees, was not spared.

Restrictions in China to online gaming time for under-18s were also a blow to the group's profitability.

Tencent is now looking for more opportunities abroad, particularly in Europe, where it is strengthening its position by acquiring stakes in major gaming studios.

Related Links
Cyberwar - Internet Security News - Systems and Policy Issues

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
CYBER WARS
Canada inquiry into foreign interference starts hearings
Ottawa (AFP) Jan 29, 2024
Is Canada particularly vulnerable to foreign interference? A judge probing outside meddling by China and others began five days of hearings on Monday, vowing to unravel the "very serious" claims. A senior minister, top intelligence officials and national security experts are to shed light on the allegations - first revealed in media reports citing leaked classified documents and unnamed sources - that China and others sought to interfere in Canada's 2019 and 2021 elections, as well as accusations ... read more

CYBER WARS
THAAD Localization Efforts Align with Saudi Vision 2030 Objectives

Northrop Grumman Advances Homeland Defense with Early NGI Milestone

U.S. hits two more Houthi missiles in ninth Yemen attack

MBDA secures contracts to fortify Royal Navy's against ballistic threats

CYBER WARS
Russia has launched North Korean missiles at least 9 times in Ukraine: U.S. diplomat

US strikes five missiles in Yemen: military

NKorea's Kim oversaw test of cruise missiles launched from submarine: state media

North Korea tested new submarine-launched cruise missile

CYBER WARS
Iraq condemns U.S. drone strike as 'clear aggression,' violation of sovereignty

US vows decisive response to deadly drone attack in Jordan

AFWERX and Xwing Showcase Autonomous Flight Capabilities with Cessna 208B

US downs drone off Yemen, strikes uncrewed surface vessel

CYBER WARS
Space Force initiates MUOS Service Life Extension with Lockheed Martin design contract

Government Connectivity Enters New Era: MetTel and Partners Highlight LEO Satellite Solutions

General Atomics to Showcase Optical Communication Terminals in Space with SDA Contract

L3Harris Technologies showcases Waveform X capabilities in live flight demonstration

CYBER WARS
The US 'can and will' deliver more Ukraine aid: top advisor

Ukraine urges EU to speed up artillery shell supplies

Curtiss-Wright Unveils New Rugged SFF Mission Computer for Harsh Environments

Ukraine calls for 'urgent' military help after fresh Russian strikes

CYBER WARS
EU foreign affairs chief Josep Borrell visits Ukraine after bloc approves $54B in aid

Russia stops Ecuador banana imports after US arms deal

House fails to pass GOP-led Israel aid bill

Defense Department lists dozens of Chinese military companies operating in U.S.

CYBER WARS
Hungary ruling party holds up Swedish NATO bid vote

Maldives vows to boost defences after telling Indian troops to leave

IMF warns of Maldives foreign debt crisis, after China borrowing

Meeting NATO, Blinken warns Ukraine gains in doubt if no US aid

CYBER WARS
MIT.nano equipment to accelerate innovation in "tough tech" sectors

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.