In 2019, the chief executive of a UK energy company transferred about €220,000 after a phone call from someone who sounded exactly like his boss. The voice was generated by AI. In 2024, an employee at the engineering firm Arup in Hong Kong paid out about US$25 million after a video call in which every other participant was a deepfake.
Why these scams work
- Urgency: the caller needs money now, before anyone can check.
- Authority: the voice or face belongs to someone you would normally obey.
- Secrecy: you are asked not to tell anyone yet.
The checks that stop it
- Call back on a number you already have, never the one that called you.
- Agree a family or team code word for urgent requests.
- Require two people to approve any unusual payment.
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