African fintechs and companies in Germany and Singapore

A crime syndicate operating on Telegram, using Chinese communication, launched coordinated attacks targeting African fintechs and companies in Germany and Singapore using deepfake videos. These attacks involved impersonating individuals. The attacks were curbed following intervention by the FBI and African law enforcement after being notified by Smile ID. Deepfakes accounted for 7% of global identity fraud attempts, a fourfold increase from 2023, with Africa experiencing one of the largest regional increases after the Middle East.