‘Deepfake’ scam in China fans worries over AI-driven fraud

Police in the city of Baotou, in the province of Inner Mongolia, said the perpetrator used AI-powered face-swapping technology to impersonate a friend of the victim during a video call and receive a transfer of 4.3mil yuan (RM2.78mil or US$622,000). — Reuters

BEIJING: A fraud in northern China that used sophisticated “deepfake” technology to convince a man to transfer money to a supposed friend has sparked concern about the potential of artificial intelligence (AI) techniques to aid financial crimes.

China has been tightening scrutiny of such technology and apps amid a rise in AI-driven fraud, mainly involving the manipulation of voice and facial data, and adopted new rules in January to legally protect victims.