The syndicate set up its operations centre in a 4,000 sq ft industrial unit. - Photo: Shutterstock via SCMP
HONG KONG: Hong Kong police have for the first time smashed a local fraud syndicate that used deepfake technology to swap the faces of the swindlers with those of attractive women in video calls to cheat love-struck men in the region, including Singapore, out of HK$360 million (U$46 million - RM200 million).
The force said on Monday it had arrested 27 people, including university graduates recruited by the syndicate to set up fake trading platforms that were used to lure victims into “investing” in cryptocurrencies.
