Deepfakes are a growing concern. As technology improves and AI services proliferate, it is getting easier for bad actors to create completely bogus content that intends to dupe the unsuspecting. Today, the Hong Kong Monetary Authority (HKMA) has issued a warning to the public to “remain vigilant” regarding an online video interview that claims to be an interview with HKMA Chief Executive Eddie Yue.
Apparently, the video interview is completely fake, and all the remarks are false. While CI has been unable to view the video, the HK government says the video was about Yue and an investment item. It seems the fraudsters are attempting to leverage a known and trusted individual to pump an investment opportunity.
The bogus video interview highlights the rise of AI and the need for regulators and enforcement agencies to take this emerging fraud seriously. While much of the public is suspicious of news media anyway, which frequently is more about advocating a specific political ideology, Deepfakes can cause more confusion. And just not in financial services.
