AI challenging to the World

A multinational company in Hong Kong became a victim of deepfake fraud worth more than 3 billion rupees. The fraud was done using deepfake technology (imitation that looks like reality) which is part of AI.

For this, the cybercriminals created a deepfake through AI using the audio and video of the fraudulent company's employees available on the Internet, one of whom was the Chief Financial Officer (CFO).

Then an email message is sent from the UK-based CFO to an employee of the finance department about confidential transactions. Employees are suspicious of this message. But after joining the video conference, the doubts of those employees are removed. Because the faces seen in the video conference were the CFO and other employees of the company.

After that, the employee transfers more than 3 billion 15 times. In fact, only the employee who transferred the money in the video conference was genuine, all the others were fake (made using deepfake technology). This is the biggest theft ever from Deepfake.

Some time ago, the audio of President Joe Biden advising the voters not to vote in the presidential primary election in New Hampshire went viral. But the audio was not produced by Biden but by AI.

Deepfake has also been used to blur the image of various popular people. Indian actress Rashmika Mandana, American singer Taylor Swift, former American President Donald Trump and others have also been victims of deepfakes.

These incidents have recently raised the voice of the need to regulate artificial intelligence (AI) technology around the world. Only on Wednesday, the European Union has passed the law regulating AI from the Parliament. The European Union has introduced a law to regulate AI for the first time in the world. America, China, India, Brazil, Israel, Italy, Japan, UAE and other countries have also advanced the process of regulating AI.