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A story from February warned the world about scammers using deepfake technology. They tricked a Hong Kong-based CFO into sending $25.6 million by pretending to be high-level employees in a video call.
Recently, Ferrari NV faced a similar attack.
Ferrari NV was targeted by scammers using deepfakes. Bloomberg reported that a high-level executive got messages from someone pretending to be CEO Benedetto Vigna. The plot started to fall apart during a video call.
The WhatsApp messages were suspicious. They said things like, “Be ready to sign the Non-Disclosure Agreement our lawyer is set to send you asap.” Another message mentioned, “Italy’s market regulator and Milan stock-exchange have been already informed.”
Major red flags, indeed. Big deals don’t happen without the C-Suite team knowing. Upper-level execs are usually aware of major initiatives.
During the video call, the scammer mimicked Vigna’s southern Italian accent perfectly. But minor details were off, which made the executive suspicious.
The first hint something was wrong? The caller used a different phone number, claiming they needed to discuss something confidential. The fake CEO mentioned a deal with China-related snags requiring a currency-hedge transaction.
PRO TIP: If someone contacts you from an unknown number and it feels urgent, it’s probably a scam.
Mechanical intonations in the scammer’s voice also raised alarms. The executive then asked, “Sorry, Benedetto, but I need to identify you.” He hit the scammer with a question only the real CEO would know.
Days earlier, Vigna had recommended a book to this executive. The real answer was “Decalogue of Complexity: Acting, Learning and Adapting in the Incessant Becoming of the World by Alberto Felice De Toni.” The scammers couldn’t answer and ended the call abruptly.
Be. Careful. Out. There.
Deepfake technology in scammers’ hands is terrifying. Remember the $25.6 million incident in Hong Kong? It’s unclear what these scammers wanted from Ferrari NV, but this incident is a lesson for everyone: build redundancy in business when money is involved and trust your instincts.
