AI Deepfake Scam Targets Taiwan Carbon Exchange Executive
Fraudsters used AI deepfake technology to create fake videos of a Taiwan Carbon Exchange executive's likeness and posted them on social media to promote fake investment schemes. The exchange and the executive issued a public warning on August 28, 2024, clarifying the deception and advising investors to verify any investment solicitations.
What happened
Fraudsters used AI deepfake technology to create fake videos of Taiwan Carbon Exchange general manager Tian Jianzhong, using his photos and video footage without authorization.
The deepfake videos were posted on LINE, Facebook and other social media platforms in fraudulent accounts and investment groups to promote financial products and investment schemes and solicit money from the public.
Reported impact
The Taiwan Carbon Exchange stated it discovered the fraudulent scheme and issued a public warning to investors on August 28, 2024.
The exchange clarified that Tian Jianzhong had not created or joined any investment groups, used his personal name to establish Facebook pages or LINE official accounts, requested personal information from the public, or promoted investment products or services.
Index analysis
The incident demonstrates the misuse of AI deepfake technology to impersonate a senior financial executive and conduct investment fraud targeting the general public.
Governance controls
The Taiwan Carbon Exchange issued public warnings advising investors not to trust unverified advertisements, text messages or online messages, and recommended they call its hotline or email to verify any suspicious messages.
The exchange advised investors to verify the legitimacy of investment solicitations received on LINE, Facebook, APP and other channels, and to contact the 165 anti-fraud hotline for verification.
Classification
Sources and evidence
This record was researched and written by the Index, based on the following original reporting.