Hong Kong Falls Prey to Deepfake Romance Scams as AI Scammers Strike

Hong Kong has suffered a surge in sophisticated frauds fueled by artificial intelligence. Authorities announced the dismantling of a criminal syndicate that stole millions from unsuspecting victims.

27 Arrested in AI-Fueled Romance Scam

On Monday, Hong Kong police arrested 27 people for alleged ties to an elaborate romance scheme that weaponized AI face-swapping technology (i.e., deepfake) to lure victims into fake cryptocurrency investments.

Threat actors used artificial intelligence in the form of image generators and voice-changing software to create fake personas on online dating platforms. This allowed them to masquerade as individuals with interesting personalities, educational backgrounds, and occupations.

Scammers Used Deepfake to Engage in Video Calls

Some victims requested video calls, perhaps to verify the legitimacy of the online acquaintance. This, in turn, increased the operation’s sophistication as perpetrators leveraged deepfake technology to turn into realistic, attractive potential partners in real time.

Victims were convinced they were engaging with real people, strengthening the emotional and financial ties between them and the con artists.

The promise of financial gain through crypto investments was at the scam's core. Threat actors lured their victims with made-up profit records showing significant returns.

Scammers Lured Victims with Fake Cryptocurrency Investments

“After the victims lower their guard towards the scammers, the scammers will further reveal their investment skills and use falsified transaction records to lure the victims into making large investments,” said Fang Chi-kin, head of the New Territories South regional crime unit. “In the end, the so-called profits do not exist, and the principal amount cannot be recovered either.”

Although the scam originated in Hong Kong, its reach extended well beyond the city’s borders, as identified victims were from multiple countries, including Taiwan, mainland China, India, and Singapore.

The operation yielded significant evidence, including computers, mobile phones, and luxury watches, and approximately $25,756 in suspected fraud proceeds. However, the seizure is only a fraction of the estimated $46 million stolen from victims.

Dodging the Surge of Online Scams

Unfortunately, the surge of online scams shows no sign of slowing down, as threat actors are adopting increasingly advanced technologies to deceive unsuspecting victims.

However, specialized services like Bitdefender’s Scamio can help you avoid scammers by analyzing messages, emails, links, images, and QR codes to detect scams.

Scamio can also detect scam attempts from scenarios: describe a situation and Scamio will instantly assess whether it’s a scam.

Scamio is free and available on Facebook Messenger, WhatsApp and your web browser. You can also help others stay safe by sharing Scamio with them in France, Germany, Spain, Italy, Romania, Australia and the UK.