Hong Kong authorities have arrested 31 individuals accused of using deepfake technology to scam victims through investment and romance schemes. According to police, the suspects were part of a syndicate that operated across multiple Asian countries, including Taiwan, Malaysia, and Singapore. The group reportedly swindled over $4.3 million in criminal proceeds.
The arrests were carried out during an operation spanning two days, with officers raiding two industrial buildings that the syndicate had rented as their base of operations. Police described the setup as strategically planned, with offices positioned to facilitate their fraudulent activities.
Sophisticated scam operations using technology
Hong Kong’s Commercial Crime Bureau revealed details of the syndicate’s operations, which relied heavily on deepfake technology and stolen images. Members would search the internet for photos of attractive women and use deepfake software to create fake personas. These fabricated identities were then used to approach victims through dating platforms, building trust by creating the illusion of a romantic relationship.
Once trust was established, victims were persuaded to invest in fraudulent schemes. To enhance the deception, the scammers shared fake personal details, conducted video calls, and presented themselves as wealthy individuals with ties to cryptocurrency and luxury lifestyles. Police noted that these tactics effectively convinced victims to part with substantial amounts of money.
Recruitment and training of new members
The syndicate also recruited young people, including students, by offering them financial incentives and other perks to participate in the scam. Superintendent Fung Pui-Kei explained that the recruits were trained to target victims using dating apps, focusing on individuals from Taiwan, Singapore, and other parts of Southeast Asia.
Fung also highlighted that the organization operated in shifts, with members clocking in at assigned times to maintain the scheme’s efficiency. The syndicate used advanced tools, including AI face-swapping technology, to craft convincing fake identities.
Seized assets and ongoing investigation
During the raids, authorities confiscated cash and assets valued at approximately HK$100 million, including luxury handbags and watches. Police reported that most suspects were unemployed, while a few were university students. Among the arrested individuals, five were identified as key members of the group and face charges of conspiracy to defraud.
This is not the first instance of deepfake-related scams in Hong Kong. A similar syndicate was dismantled last October, with 27 individuals arrested for defrauding victims of $46 million. Authorities are investigating whether the two groups are connected.