Connect with us

Sci/tech

Deepfake video meeting with fake CFO costs company $25.6 million

Published

on

Hong Kong, Feb 5 (IANS) A fake video conference call where a digitally recreated avatar of the chief financial officer (CFO) ordered money transfers has cost a multinational company $25.6 million in a first-of-its-kind scam.

Employees in the company’s Hong Kong office were duped by fraudsters who created digitally altered versions of the company’s CFO and others in a video call where “everyone looked real”.

Everyone present in the video calls, except the victim, was a fake representation of real people, the South China Morning Post reported.

“The fraudsters applied deepfake technology to convert publicly available video and other images into convincing versions of the meeting participants,” the report said.

Police say the case is the first known case of fraudsters using deepfakes to trick financial agencies.

“This time, in a multi-person video conference, it turns out that everyone you see is fake,” Acting Senior Superintendent Baron Chan Shun-ching said.

The company employees on the call looked and sounded like real people that the target employee recognized.

ALSO READ:  Exercise can rejuvenate brain, delay cognitive decline: Study

They followed instructions given during the meeting and made 15 transfers totaling HK$200 million ($25.6 million) to five Hong Kong bank accounts.

“They used deepfake technology to mimic their targets’ voices reading a script,” Chan said.

Fake porn images of singer Taylor Swift had recently gone viral. Elon Musk-run X had banned searches for Swift which blocked queries of her name for several days after the spread of explicit and digitally altered images of her.

— IANS

and/arm

Source link

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Sci/tech

Atal Innovation Mission empowering innovators in Tier 2 & 3 cities: Director

Published

on

By

New Delhi, July 6 (IANS) Atal Innovation Mission’s (AIM) Community Innovator Fellows (CIFs) programme is empowering innovators in Tier 2 and Tier 3 cities, said Dr. Chintan Vaishnav, Mission Director at AIM.

He said this while delivering a keynote address at NITI Aayog marking the celebration of the graduation of its second batch of CIFs on Friday.

Dr. Chintan underscored the programme’s pivotal role in advancing solutions across healthcare, education, agriculture, and financial services, resonating deeply with the ethos of sustainable development.

“We have now established robust institutions that seamlessly integrate business incubation with academia. This well-designed project aspires to be a model of excellence,” Dr. Vaishnav said.

He noted that the Community Innovator initiative “captures the aspirations of youth eager to go beyond traditional boundaries in innovation and startups. It embodies both rigour and relevance, truly inspiring in its mission and impact.”

AIM, through its Atal Community Innovation Centres (ACIC) programme has envisaged serving the unserved/underserved areas of the country, providing support to every grassroots innovator, and working towards accelerating the pathway to reach SDGs 2030.

ALSO READ:  24 bugs in Chinese biometric device can compromise data

“These innovators serve as role models not only for their communities but also for society at large. I’m delighted to witness each business prospering — it’s like shaping raw gold into a precious jewel,” said Anurag Pratap Singh, Vice President & CSR Leader at Capgemini India.

Dr. Suresh Reddy, Lead CSR & Director at SRF Foundation, reflected on the impact of social entrepreneurship in addressing community challenges.

–IANS

rvt/rad

Continue Reading

Sci/tech

Startups, Global Capability Centres created 8 cr jobs in India in 5 years: Labour Secy

Published

on

By

New Delhi, July 6 (IANS) Global Capability Centres (GCCs) and startups have emerged as major players in creating jobs in India.

Together, these created about eight crore new jobs in the last five years, said Sumita Dawra, Secretary, Ministry of Labour and Employment.

Dawra said this at an event held in the national Capital by the Confederation of Indian Industry (CII) and Employers’ Federation of India (EFI), citing the Periodic Labour Force Survey (PLFS).

She also revealed the reforms such as decriminalisation of labour laws, and increasing female workforce participation, undertaken by the ministry for ease of doing business.

She noted that reforms such as social security and labour welfare are expected to drive inclusive growth in India.

In addition, “29 labour laws had been codified into four labour laws. A national career service portal is active and data from the Skills Ministry is being integrated”, Dawra said.

Further, she added that India “has about 1 crore gig workers and the gig economy is expected to give employment to about 2.4 crore people by 2030.”

ALSO READ:  Exercise can rejuvenate brain, delay cognitive decline: Study

Meanwhile, the government has also constituted a task force to study the impact of Artificial Intelligence on the future of work, the senior official said, calling for more research.

–IANS

rvt/rad

Continue Reading

Sci/tech

Mobile tariff hike: Centre responds to misleading claims

Published

on

By

New Delhi, July 6 (IANS) The government has responded to misleading claims regarding recent mobile services tariff hike, saying with three private and one public sector player, the current mobile services market operates through the market forces of demand and supply.

The Telecom Regulatory Authority of India (TRAI) said the rates of telecommunication services are decided by market forces, within the regulatory framework notified by the independent regulator.

“The government does not intervene in the free market decisions as the functionality is under the domain of TRAI and tariffs are under forbearance,” said the regulator.

The TRAI said the telecom service providers (TSPs) have increased the prices of mobile services after more than two years.

“In the last two years, some of the TSPs have invested heavily in rolling out the 5G services across the country. This has resulted into a significant increase in median mobile speed to the level of 100 Mbps and jump in India’s international rank from 111, in October 2022, to 15 today,” the TRAI explained.

ALSO READ:  CMFRI proposes 'shark hotspots' to protect endangered species

While protecting the interests of subscribers, for the orderly growth of the telecommunication sector, which includes investments in latest technologies like 5G, 6G, IoT/ M2M for Industry 4.0 etc., “the financial viability of the sector is important,” said the TRAI.

Before last 10 years, the telecommunication sector was mired in controversies, lack of transparency and therefore, growth of mobile services was stagnant.

“During the last 10 years, due to progressive policies of the government, the rates of telecommunication services be it voice or data, have fallen exponentially,” said the telecom regulatory body.

—IANS

na/rad

Continue Reading

Sci/tech

Haryana to introduce smart classrooms in 1,000 more primary schools: Chief Secy

Published

on

By

Chandigarh, July 5 (IANS) To revolutionise education through technology and elevate learning outcomes for children, the Haryana government has decided to introduce smart classrooms in an additional 1,000 government primary schools under the SAMPARK programme, Chief Secretary T.V.S.N. Prasad said on Friday.

In a virtual conference with all the Deputy Commissioners, he said over 6,600 primary schools in Haryana currently benefit from smart classrooms, and this expansion aims to further integrate innovative educational technologies into the primary education system.

Prasad expressed enthusiasm for the initiative, emphasising the state’s commitment to enhancing foundational learning. He highlighted the introduction of smart classrooms marks a significant stride towards providing students with a better education experience.

He also underscored the collaborative effort with the SAMPARK Foundation to achieve a technologically advanced and inclusive education system, directing all Deputy Commissioners to oversee the effective implementation of the SAMPARK programme in their respective districts.

Additional Chief Secretary, School Education, Vineet Garg said the introduction of smart classrooms has already led to a 35 to 40 per cent increase in learning outcomes and micro competencies among students in primary schools. He highlighted the SAMPARK Foundation’s role in providing extensive training to teachers, equipping them with the necessary skills to effectively utilize new technologies.

ALSO READ:  Kimbal Technologies raises funds to scale up existing operations

SAMPARK Foundation President K. Rajeshwar Rao lauded Haryana for becoming the first state in the country in the effective implementation of the NIPUN Bharat Programme. The foundation currently covers 1.25 lakh government schools across eight states.

–IANS

vg/vd

Continue Reading

Sci/tech

Centre notifies new Telecommunications Act provisions, focuses on spectrum utilisation

Published

on

By

New Delhi, July 7 (IANS) The government on Friday notified another set of sections of the Telecommunications Act 2023, that came into effect with immediate effect.

One major aspect that is being covered in the latest notification is the focus of the Central government on increasing efficiency in spectrum utilisation and various modes of achieving the same like secondary assignment, sharing/trading etc, the Ministry of Communications said in a statement.

The government issued a notification for enforcing Sections 6-8, 48 and 59(b) of the Telecommunications Act. 2023 with immediate effect. The salient features of the sections that have been brought into force include optimal utilisation of spectrum.

“The Act provides a legal framework for efficient utilisation of scarce spectrum through processes such as secondary assignment, sharing, trading, leasing and surrender of spectrum,” the ministry said.

It also enables the utilisation of spectrum in a flexible, liberalised and technologically neutral manner, along with empowering the government to establish an enforcement and monitoring mechanism for the purpose.

ALSO READ:  Kimbal Technologies raises funds to scale up existing operations

The Act also prescribes, with immediate effect, the use of any equipment which blocks telecommunication, unless permitted by the government.

The Telecommunication Act 2023 aims to amend and consolidate the law relating to the development, expansion and operation of telecommunication services and telecommunication networks; assignment of spectrum; and for matters connected therewith. “The Telecommunication Act 2023 also seeks to repeal existing legislative frameworks like Indian Telegraph Act 1885 and Indian Wireless Telegraph Act 1933 owing to huge technical advancements in the telecom sector and technologies,” said the ministry.

–IANS

na/vd

Continue Reading

Trending