History

Fake CEO of Ferrari tries to cheat executive with artificial intelligence

A senior Ferrari executive fell victim to an attempted scam using deep fakes and artificial intelligence, but managed to foil the plan

2' min read

2' min read

Do you remember the story of the employee of a British company based in Hong Kong who, betrayed by the deep faker, executed wire transfers for a total scam of $25 million? We had written about it here. Well, something similar - at least in terms of the methods used - was apparently about to happen in Ferrari, too.

The story is told by the Bloomberg agency, explaining how in recent days a senior executive of the Maranello company fell victim to an artificial intelligence-based scam attempt. Attempt fortunately - we'll write it down now - failed.

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Fake messages

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The facts would go something like this. A few days ago, the executive in question started receiving a series of unexpected messages, apparently from the CEO of Ferrari, Benedetto Vigna. One read: 'Hey, did you hear about the big acquisition we're planning? I might need your help'.

The messages sent via WhatsApp - which Bloomberg viewed - were not from Vigna's usual company mobile phone number. The profile picture was also different, even though it was an image of the ceo.

'Be ready to sign the non-disclosure agreement that our lawyer will send you as soon as possible,' another message read. And again: 'The Italian market regulator and the Milan Stock Exchange have already been informed. Stay ready and please maintain the utmost discretion'.

The use of the deep fake

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Next came the use of artificial intelligence, with the use of the deep fake. Because a telephone conversation was initiated between the Ferrari executive and the 'fake' company CEO. A call during which only the executive's wit averted the worst. The voice of the fake Vigna, in fact, was entirely similar to that of the original, except for a few nuances, which apparently sounded a little metallic (this happens with current AI-related systems).

During the conversation, the fake CEO explained that he was calling from another mobile phone number because he needed to discuss something confidential: a deal that might have encountered some hiccups related to China and required the execution of an unspecified transaction.

Scam unveiled

Fortunately, the manager, suspicious of the imperceptible but nonetheless present mechanical intonations, played the trump card, walking into the conversation: 'Sorry, Benedetto, but I have to identify you'. And he asked what was the title of the book Vigna had recommended a few days earlier.

This is where the call was abruptly interrupted. Ferrari opened an internal investigation. But the story confirms a growing trend: the use of deep fakes to try and pull off multi-million dollar scams. Quite a wake-up call.

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