How a Ferrari executive prevented a multi-million dollar deepfake scam
An executive at Ferrari recently stopped a potential multi-million dollar scam involving deepfakes. They received unexpected messages allegedly from CEO Benedetto Vigna, discussing an acquisition and requesting assistance. However, the messages raised suspicion as they were not from Vigna's usual business number, and the profile picture was slightly different. Following this, the scammer attempted a deepfaked call. The executive became suspicious, and asked the name of a book that Vigna had recommended. The impersonator, unable to answer, abruptly hanged up.
The scammer spoke about major acquisition, confidentiality
The scam messages hinted at a major acquisition, urging the executive to prepare for signing a Non-Disclosure Agreement. The sender falsely claimed that Italy's market regulator and the Milan stock exchange had already been informed of the impending deal. This attempt to add legitimacy to the scam further raised suspicion in the mind of the executive.
Impersonator mimicked CEO's accent
Following the suspicious messages, a live phone conversation was attempted using deepfake technology. The impersonator convincingly mimicked the CEO's southern Italian accent but failed to maintain consistency, revealing subtle mechanical intonations in the voice. The caller claimed to be using a different number due to the confidential nature of the discussion, further raising suspicions.
Executive's quick thinking exposes deepfake scammer
To verify the caller's identity, the executive asked the name of a book that Vigna had recently recommended. The impersonator, unable to answer, decided to end the call. This incident prompted Ferrari to launch an internal investigation into the matter, further highlighting the growing threat of deepfake scams in corporate settings.
Deepfake scams: A rising trend in corporate crime
This incident is part of a growing trend where criminals use deepfake technology, to impersonate high-profile executives. In another similar incident, Mark Read, the CEO of advertising giant WPP Plc, was targeted by a deepfake scam on a Teams call. Rachel Tobac, CEO of cybersecurity training company SocialProof Security, has noted an increase in attempts to use AI for voice cloning this year.
