Thieves are now using AI deepfakes to trick companies into sending them money

Illustration by Alex Castro and Grayson Blackmon / The Verge

It seems like every few days there’s another example of a convincing deepfake going viral or another free, easy-to-use piece of software (some even made for mobile) that can generate convincing video or audio that’s designed to trick someone into believing a piece of virtual artifice is real. But according to The Wall Street Journal, there may soon be serious financial and legal ramifications to the proliferation of deepfake technology.

The publication reported last week that a UK energy company’s chief executive was tricked into wiring €200,000 (or about $220,000 USD) to a Hungarian supplier because he believed his boss was instructing him to do so. But the energy company’s insurance firm, Euler Hermes Group SA, told the WSJ that a…

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