Case Background In New Jersey, insurance fraud ranks as the second-largest white-collar non-violent crime, trailing only tax evasion. Shockingly, insurancefraud.org’s latest report reveals that insurance fraud accounts for a staggering $308.6 billion annually, driving up insurance costs and burdening policyholders. The report shows 9% of respondents don’t view insurance fraud as a wrongdoing; they see...
Author: Nancy Lee
Deepfake Pornography Threatens 60% of UK Women
Case Background In recent years, there has been a 900% surge in online-provided deepfake videos, as highlighted by a KPMG report. These AI-generated manipulations pose significant risks: 1) Pornographic Content Dominates: Among 95,820 deepfake videos, 98% fall into the pornographic category. Women are disproportionately targeted, with many featuring entertainment industry figures; 2) Women at Risk:...
Deepfake Job Scams: A Growing Threat?
Case Background In July 2022, the U.S. Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) issued a warning about scammers using “Deepfake” technology to impersonate job seekers during remote interviews. These fraudsters aim to defraud companies, steal payroll, and pilfer trade secrets. How does the scammer impersonating job seeker? 1) Fake Job Postings: Scammers...
13-Year-Old Student Arrested on Charges of Creating Fake Pornographic Photos of Classmates using AI Technology
Case Background Few months ago, two students with 13- and 14-years old middle school boys from Miami, Florida of USA, were arrested by the Police Department on charges of creating nude photos of their classmates using AI DeepFake technology. According to information released by the police, the supspects were accused of using an unnamed AI...
New Malware Alert: “GoldPickaxe” Targets iOS and Android Users!
Case Background On February 15, 2024, cybersecurity firm Group-IB uncovered a sinister threat: the GoldPickaxe malware. GoldPickaxe preys on unsuspecting iOS users, using a blend of social engineering and deepfake technology. It has both iOS and Android versions, with current impact primarily in Vietnam and Thailand. GoldPickaxe does not directly steal users' bank funds, but...
Bank of Guizhou 貴州銀行 (stock code: 6199.HK) adopting AISecurius, becoming the First HKEX-listed financial institution from Guizhou Province
Case Background In 2019, Bank of Guizhou Co., LTD 貴州銀行 ("Bank of Guizhou", stock code: 6199.HK) was successfully listed on the main board of the Hong Kong Stock Exchange (HKEX), becoming the first HKEX-listed financial institution from Guizhou Province. As the sole city commercial bank established under the auspices of the Guizhou Provincial Government, the...
A HK$200 Million Scam of AI Deepfakes in E-conference
Case Background Few days ago, a clerk working for the Hong Kong branch of a multinational company fell prey to an AI-fraud from a video conference where every participant, except the clerk, was an AI generated deepfake. These eerily realistic avatars mimicked colleagues’ voices and appearances so the clerk unwittingly made 15 transactions, transferred total...
Fake QR Code? Payment Fraud? Apps Hacking?
Case Background In Beijing China, there is a similar Octopus app called RuuByPay (億通行) which provides QR code payment, promotions with banks, etc. RuuByPay launched a new QR code payment promotion "亿通行1分钱坐地铁优惠领取" in China, which is generated by specific keys on the app. The key is hardcoded because of the unstable subway's network, so It...
Photoshop could be a tool for scammers?
Case Background 1 month ago, the officers from the Kwun Tong Police District arrested two people on suspicion of fraud. The suspects started using a photo editing app to forge receipts in October last year. They uploaded more than 200 fake shopping receipts to one of the known Group in Hong Kong to launch their...
City University of Hong Kong
City University of Hong Kong City University of Hong Kong (CityU) is a dynamic, fast‑growing university pursuing excellence in research and professional education. As a publicly funded institution, it is committed to nurturing student talents and creating applicable knowledge to support social and economic advancement. CityU is well regarded within university rankings and is currently...