Weekly briefing

27 October 2026 · Deepfake-enabled payment instruction fraud

Everyone else on the call was generated

In January 2024 a finance employee at the Hong Kong office of the engineering firm Arup joined a video call with people he understood to be his chief financial officer and several colleagues. Over the course of the day he executed fifteen transfers totalling roughly HK$200m, about US$25.6m.

Every other participant on the call was an AI-generated impersonation.

He had been suspicious of the original email. That is the part worth sitting with. The control he used to test it — speaking to the people involved, seeing their faces — was the control the firm had adopted precisely because email could not be trusted.

The pattern

This is deepfake-enabled payment instruction fraud: synthetic video and voice defeat the callback and verification steps firms adopted to stop email-based impersonation.

Your corporate customer asks what control now defeats this. What do you tell them?

One tap. The answer appears straight away.

Last week

The remote developer on the payroll