Deepfake Deception: Man Duped of Rs 5 Crore as Chinese Scammer Exploits AI Technology

A recent incident has shed light on the alarming misuse of artificial intelligence (AI) through the deployment of advanced ‘deepfake’ technology, in which a man was deceived into losing a substantial amount of money exceeding Rs 5 crore. Deepfakes, which leverage AI capabilities to generate counterfeit images and videos, have raised concerns due to their potential to spread misinformation.

According to a recent report by Reuters, the perpetrator employed AI-powered face-swapping technology to impersonate the victim’s close acquaintance. Posing as the friend, the scammer engaged in a video call with the victim and urgently requested a transfer of 4.3 million yuan, falsely claiming the funds were urgently needed for a bidding process. Unaware of the deception, the victim complied and transferred the requested amount.

The elaborate scheme began to unravel when the real friend expressed no knowledge of the situation, leaving the victim perplexed. It was at this point that he realized he had fallen victim to a deepfake scam. Fortunately, the local authorities in Baotou City successfully recovered most of the stolen funds and are actively pursuing the remaining amount.

This incident has raised concerns in China regarding the potential misuse of AI in financial crimes. While AI has brought significant advancements across various domains, its misapplication has become an increasingly worrisome issue. In a

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