Hong Kong police crack down on deepfake technology used to lure others into investing in a virtual currency fraud group, involving approximately 34 million yuan

On January 5th, according to Phoenix News, the Hong Kong police recently cracked down on a fraud group that used deepfake technology to lure others into investing in virtual currencies through social platforms, involving approximately 34 million yuan. Based on intelligence, the Commercial Crime Division of the Hong Kong police arrested 31 people aged between 20 and 34 in two industrial buildings in Kowloon Bay on Thursday and Friday, some of whom claimed to be students and unemployed, involved in the same fraud group, and seized their pre-set "scripts". The Hong Kong police stated that the group will recruit young people who want to "make quick money" to join, train them to set up accounts on dating platforms with false identities, pretend to have good looks and luxurious lifestyles, meet people from overseas including Taiwan and East Asia, and chat according to the "script". After understanding the other party's background, they will cater to their preferences and develop into online lovers, even using deepfake technology for video calls. Afterwards, they will lure the other party into investing in virtual currency, claiming considerable returns and demanding to deposit it on a fake platform. The group will immediately transfer the virtual currency received and cut off contact with the victim. The police stated that the fraud group has been operating for at least a year, with criminal profits exceeding 34 million yuan. The Acting Chief Superintendent of the Hong Kong Commercial Crime Bureau, Kong Qingxun, said, "They rented two fraud centers located adjacent to industrial buildings in Kowloon Bay to diversify risks and increase confidentiality. Most importantly, we noticed that these two fraud centers operate in two shifts, with the aim of attracting more victims day and night. Don't think that participating in some criminal group work is just a small matter, even if you are only arranged to meet victims online without direct contact with virtual currency investment work, it is still illegal The Hong Kong police remind that conspiracy to commit fraud is a serious crime, and once convicted, the maximum sentence is 14 years in prison. Some victims are located overseas, and the fraud platform is not located in Hong Kong. We will cooperate with overseas law enforcement agencies to continue the investigation. According to reports, the mastermind, center leader, and key members of the fraud group, totaling 5 people, have been charged with conspiracy to commit fraud and money laundering. They will appear in the Eastern Magistrates' Court on Monday.