AI incident ·
Reported AI-Cloned Voice Used to Deceive Hong Kong Bank Manager in Purported $35 Million Fraud Scheme
On this page 8 sections
In brief
An AI system built by Deepfake Technology Developers and Synthetic Audio Generation Technology Developers and deployed by Cybercriminals, Scammers and 1 other allegedly harmed Unnamed Japanese Firm, Unnamed Hong Kong Based Branch Manager Of Unnamed Japanese Firm and 2 others.
- Risk domain
- Malicious Actors & Misuse
- Occurred
- Coverage
- 6 reports
What happened
In January 2020, a Hong Kong-based bank manager for a Japanese company reportedly authorized $35 million in transfers after receiving a call from someone whose voice matched the company director's. According to Emirati investigators, scammers used AI-based voice cloning to impersonate the executive. The fraud allegedly involved at least 17 individuals and reportedly led to global fund transfers that triggered a UAE investigation. U.S. authorities were reportedly later asked to help trace part of
Laws on record for this risk area
Policy angle: Classified under Malicious Actors & Misuse (Fraud, scams, and targeted manipulation) in the MIT AI Risk Repository taxonomy; 5 instruments on record cover this risk area in China.
- PCPD Model Personal Data Protection Framework for AI (2024)
- Generative AI Technical and Application Guideline (2025)
- India DPDP Act
- Law on Artificial Intelligence (2025)
- Law No. 132/2025 on artificial intelligence
Matched from the record's risk category and country to the instruments in effect recorded here: a law listed covers the area, which is not a finding that it applies to this incident. A reviewer can correct the match in the repository (data/external/incident_overrides.yaml).
News reports (6)
Titles link to the original publisher; report text is not reproduced here.
Who was involved
- Alleged deployer
- Cybercriminals, Scammers, Transnational Fraud Rings
- Alleged harmed party
- Unnamed Japanese Firm, Unnamed Hong Kong Based Branch Manager Of Unnamed Japanese Firm, General Public Of The United Arab Emirates, Centennial Bank
Classification (MIT AI Risk Repository taxonomy)
- Risk domain
- Malicious Actors & Misuse
- Risk subdomain
- 4.3 Fraud, scams, and targeted manipulation
- Causal entity
- Human
- Intent
- Intentional
- Timing
- Post-deployment
- Harm level
- AI tangible harm event
- Sectors
- financial and insurance activities, other
- Countries
- CN
Risk entries describing this failure mode
Entries from the MIT AI Risk Repository coded to subdomain 4.3.
- Defamation/libel/slander
"Defamation/libel/slander - Use of a technology system to create, facilitate or amplify false perception(s) about an individual, group, or organisation."
- IP/copyright loss
"IP/copyright loss - Misuse or abuse of an individual or organisation’s intellectual property, including copyright, trademarks, and patents."
- Cheating/plagiarism
"Cheating/plagiarism - Use of another person’s or group’s words or ideas without consent and/or acknowledgement."
- Dehumanisation/objectification
"Dehumanisation/objectification - Use or misuse of a technology system to depict and/or treat people as not human, less than human, or as objects."
- Impersonation/identity theft
"Impersonation/identity theft - Theft of an individual, group or organisation’s identity by a third-party in order to defraud, mock or otherwise harm them."
- Financial and business
"Financial and Business - Use or misuse of a technology system in a manner that damages the financial interests of an individual or group, or which causes strategic, operational, legal or financial harm to a business or...
- Cybersecurity
"LLMs may exacerbate cybersecurity risks in various ways (Newman, 2024). Firstly, LLMs may significantly amplify the effectiveness of deceptive operations aimed at tricking people into disclosing sensitive information or...
- Misinformation and Manipulation
"Recent studies have demonstrated that LLMs can be exploited to craft deceptive narratives with levels of persuasiveness similar to human-generated content (Pan et al., 2023b; Spitale et al., 2023), to fabri- cate fake n...
Incidents in the same risk subdomain
- Italian Mediaset Journalist Safiria Leccese's Image Was Reportedly Used in a Purportedly AI-Generated Fake Loan Scam
- Scammers Reportedly Used AI-Cloned Daughter's Voice to Defraud Bay Area Mother in Fake Kidnapping Call
- Guelph, Ontario, Woman Reportedly Lost $14,000 in Purported Deepfake MrBeast Cryptocurrency Scam
- Purportedly AI-Recreated Clips from Beastie Boys' 'Sabotage' Video Reportedly Appeared in FBI Promotional Video Posted by Kash Patel
- Ahmedabad Aadhaar Fraud Racket Reportedly Used Purportedly AI-Generated Deepfakes to Change Businessman's Linked Mobile Number
- ChatGPT Was Reportedly Consulted on Body-Disposal and Concealment Questions Before and After University of South Florida Doctoral Students Were Killed
Source record: incident #147 on the AI Incident Database · all 6 reports