Scammers Use Deepfake Technology in $3.8 Million Fraud Targeting Singapore Business Professional

A business professional in Singapore fell victim to a sophisticated scam that resulted in a loss of approximately S$4.9 million, or $3.8 million, after scammers employed AI-generated deepfake technology to impersonate Prime Minister Lawrence Wong and other senior officials during a fabricated Zoom call.

The scam began with a WhatsApp message from an account using a profile photo of Cabinet Secretary Wong Hong Kuan, creating an illusion of legitimacy. The victim then received a fake email requesting urgent funding assistance related to a fabricated crisis in the Strait of Hormuz, accompanied by a forged government letter of guarantee. Prior to the video call, the victim was asked to sign a non-disclosure agreement, which discouraged them from seeking external verification.

During the Zoom meeting, the victim encountered AI-generated likenesses of PM Wong, President Tharman Shanmugaratnam, and Minister Indranee Rajah. Following the call, multiple transactions were made to a bank account controlled by the scammers. The Singapore Police Force later released footage of the call, highlighting technical flaws in the deepfake, such as mismatched lip movements and audio inconsistencies.

This incident is part of a broader trend of deepfake threats targeting Singaporean leaders, which have been documented since 2023. Authorities have issued advisories urging citizens to verify unusual requests through independent channels, while corporations, especially in financial services, are being prompted to reassess their identity verification processes to guard against such advanced impersonation tactics.

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Source: KLEA News