China’s ‘Deepfake’ scam raises concerns about AI-based fraud.

AI Fraud in China Raises Concerns About Financial Crimes

A recent fraud case in northern China has sparked concerns about the potential of artificial intelligence (AI) techniques to aid financial crimes. The perpetrator used AI-powered face-swapping technology to impersonate a friend of the victim during a video call and receive a transfer of 4.3 million yuan ($622,000). The man only realized he had been duped after the friend expressed ignorance of the situation. The case has unleashed discussion on microblogging site Weibo about the threat to online privacy and security, with the hashtag “#AI scams are exploding across the country” gaining more than 120 million views on Monday.

New Rules to Protect Victims

China has been tightening scrutiny of such technology and apps amid a rise in AI-driven fraud, mainly involving the manipulation of voice and facial data, and adopted new rules in January to legally protect victims.

Recovering Stolen Funds

The police in the city of Baotou, in the province of Inner Mongolia, said they had recovered most of the stolen funds and were working to trace the rest.

Can Information Security Rules Keep Up?

The case has raised concerns about the ability of information security rules to keep up with scammers who are using increasingly sophisticated techniques. One user on Weibo wrote, “This shows that photos, voices and videos all can be utilized by scammers. Can information security rules keep up with these people’s techniques?”

• Christian Hartsock, Project Veritas’ chief investigative reporter, spoke to OAN about his more than a decade of undercover journalism with Project Veritas and the outlet’s most recent multi-state “Too Young” investigation into chemical and surgical gender mutilation conducted on minors.
• After FBI whistleblowers gave a fiery testimony on Capitol Hill, a new report reveals the FBI also used a foreign surveillance tool over 300,000 times to spy on Americans.
• GOP lawmakers are joining journalist Matt Taibbi in raising new questions about potential censorship of conservative news outlets by a company called NewsGuard which receives money from the air force and applies reliability scores to news outlets which may result in a reduction in ad revenue for conservative broadcasters.
• As the presidential race heats up, DeSantis is making a big step towards a possible White House run.
• By Joyce Lee and Brenda Goh SEOUL/SHANGHAI (Reuters) -A move by Beijing to bar U.S. firm Micron Technology Inc from selling memory…