Signal Deepfake video-conference impersonation used to order a fraudulent transfer in Singapore in March 2025

Summary

The report cites a fraud in March 2025 in which attackers used deepfakes to impersonate executives of a multinational company's branch in Singapore. The finance director joined a video conference with a chief financial officer and other executives who were in fact synthesised by AI. During the meeting, the director was instructed that funds had to be transferred urgently for a merger and acquisition deal, and complied. The report uses the case to show how deepfakes and spoofing are turning AI-enabled attacks into highly targeted operations. It illustrates that even live video can no longer be trusted as proof of identity in corporate decision-making.