Hong Kong arrests 6 for loan fraud scheme using AI deep fakes

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Hong Kong authorities arrested an informal fraud syndicate using artificial intelligence technology to falsify loan applications and steal citizens' identities.

Six individuals have beenafter allegedly using artificial intelligence to generate images for a loan scam.

"We will continue to actively engage with stakeholders from various industries to bring cyber criminals hiding in the digital world to justice," Ko added. According to Hong Kong authorities, the scammers used AI to alter their faces to match those depicted on the stolen identity cards.Authorities say the group filed at least 20 loan applications usingStolen identity cards were used to apply for an additional 70 loans and open 20 bank accounts.The syndicate also used stolen identities to register for dozens of SIM cards, which were used to send unsolicited messages phishing for credit card details and personal information.

All suspects have been detained on suspicion of conspiracy to defraud and are being held for questioning. The investigation is ongoing, and authorities have not ruled out further arrests.

 

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