Renowned British Firm Arup Falls Victim to $25 Million Deepfake Fraud
An esteemed British design and engineering corporation, known for iconic structures like the Sydney Opera House, discloses being ensnared in a deepfake fraud scheme. The company reports a $25 million loss as a result of a deceptive incident involving one of its employees in Hong Kong.
A well-known British multinational design and engineering company, responsible for iconic buildings like the Sydney Opera House, recently revealed that it fell victim to a deepfake scam. One of its employees in Hong Kong ended up paying $25 million to fraudsters as a result.
Arup's spokesperson informed CNN last Friday that the company reported the incident to the Hong Kong police in January. It was confirmed that the scammers utilized fake voices and images in the scam.
"We are unable to provide specific details at this time as the incident is currently under investigation. It has been confirmed that fake voices and images were utilized," stated the spokesperson via email.
Furthermore, the spokesperson assured that "our financial stability and business operations remained unaffected, and there was no compromise to our internal systems."
According to Hong Kong police, an intricate scam tricked an employee into participating in a video call with individuals posing as the CFO and other colleagues. However, they were actually deepfake replicas, as disclosed by Hong Kong police in February. The company and individuals involved were not disclosed.
Arup, a leading global engineering consulting firm, has played a key role in designing iconic landmarks like the Bird’s Nest, which was the venue for the 2008 Beijing Olympic Games.
Rob Greig, Arup’s global CIO, mentioned in an email that just like many other businesses worldwide, our operations face frequent attacks such as invoice fraud, phishing scams, WhatsApp voice spoofing, and deepfakes. He noted that the frequency and complexity of these attacks have been increasing significantly in recent months.
Concerns are rising among authorities globally regarding the advanced nature of deepfake technology and its potential for malicious activities.
In a memo obtained by CNN, Michael Kwok, Arup's East Asia regional chair, highlighted the rising frequency and complexity of cyber attacks worldwide. He emphasized the importance of staying informed and vigilant in recognizing various scamming techniques.
This story is still developing and will be regularly updated.
Editor's P/S:
The Arup deepfake scam is a sobering reminder of the growing threat posed by increasingly sophisticated cyber attacks. The ability to create convincing fake voices and images using deepfake technology allows scammers to bypass traditional security measures and target individuals and businesses with alarming precision. The fact that a reputable multinational company like Arup could fall victim to such a scam highlights the urgent need for organizations to enhance their cybersecurity protocols and educate their employees about the dangers of deepfakes and other emerging threats.
As deepfake technology continues to advance, it is essential for law enforcement and regulatory authorities to collaborate on developing comprehensive strategies to combat its malicious use. Governments must invest in research and development to detect and mitigate deepfakes, while also implementing strict penalties for those who engage in deepfake-related crimes. Additionally, the public needs to be made aware of the potential dangers of deepfakes and provided with tools and resources to protect themselves from falling prey to such scams.
