AI-Powered 'Hormuz' Deepfake Scam Targets Singapore Businessman - WION
A Singapore businessman lost millions in a deepfake scam where fraudsters impersonated government officials to discuss a fictitious Strait of Hormuz funding opportunity.
- Incident date
- May 2024
- Target
- Singapore Businessman
A Singapore businessman was recently targeted in a sophisticated deepfake scam. The scam involved the impersonation of senior government officials and resulted in a loss of millions.
What happened
The victim, a business professional, was contacted by scammers posing as government officials, including the secretary to the Cabinet. The scammers invited the victim to a virtual meeting with the Singapore president, ministers, and other officials to discuss a supposed funding assistance opportunity related to the Strait of Hormuz. The businessman lost at least S$4.9 million (US$3.8 million) to the scammers.