AI-generated deepfake video in romance scam defrauds €46 million
A Hong Kong-based network used AI-generated deepfake video calls of an attractive woman to conduct romance scams targeting men in Taiwan, Singapore, and India, defrauding them of €46 million. Police arrested 27 suspects operating from a large facility where they ran a fake cryptocurrency investment platform and trained members using instruction manuals designed to exploit victims' emotions.
What happened
A network operating from a 4,000-square-metre facility in Hong Kong used AI-generated video calls of an attractive woman to deceive men in Taiwan, Singapore, and India into investing in cryptocurrency on a fraudulent platform.
The scheme began with unsolicited text messages claiming to be from an attractive woman who had accidentally added the victim's number. Conversations would develop to include plans for future meetings and travel. When victims were sufficiently emotionally invested, they were persuaded to invest in cryptocurrency on a fake platform, ostensibly to fund shared future experiences such as exotic vacations and meetings.
The network consisted of approximately 27 suspects aged 21 to 34 with higher education, mostly recruited from universities. The operation was highly organized with specialized departments for different stages of the scheme, and members were trained using an instruction manual that emphasized exploiting victims' sincerity and emotions.
Reported impact
The scheme defrauded victims of more than 46 million dollars.
Index analysis
The scam used AI-generated video calls to create convincing romantic interactions, allowing fraudsters to establish emotional trust before exploiting financial desperation.
Classification
Sources and evidence
This record was researched and written by the Index, based on the following original reporting.