AI Face-Swapping Technology Used in High-End Scam in China

On May 20th, the Public Security Bureau of Baotou City revealed a shocking case of fraud involving AI face-swapping technology, demonstrating the potential misuses of advanced technology.

The victim, Mr. Guo, a representative of a technology company based in Fuzhou, was targeted by a fraudster posing as a friend. The fraudster used AI face-swapping technology to present a video chat, during which they requested a sizable loan for a supposed business opportunity. The unsuspecting victim transferred 4.3 million yuan (approximately $667,000) to a corporate account as requested.

Having established trust through the video call, Mr. Guo did not verify the receipt of the supposed deposit from his friend. Only when his friend expressed confusion about the transaction did he realize the scam.

However, quick action from the Cybercrime Investigation Bureau of Baotou Public Security Bureau and the Mongolian Commercial Bank led to the successful interception of 3.3684 million yuan ($520,000) within just 10 minutes of the transaction. Efforts are currently underway to recover the remaining funds.

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This case serves as a stark reminder of the potential dangers of AI technology when used for malicious purposes. Authorities urge the public to be vigilant about their personal information, particularly biometric data like facial images and fingerprints. They also advised the public to thoroughly verify the identity of individuals before transferring funds, even if they appear to be familiar or hold authoritative positions.

In case of suspicious activity, the public is urged to preserve all relevant evidence and immediately report to the police.