On Monday, Hong Kong police announced the arrest of 27 people involved in a romance scam operation that used AI face-swapping techniques to defraud victims of $46 million through fake cryptocurrency investments, reports the South China Morning Post. The scam ring created attractive female personas for online dating, using unspecified tools to transform their appearances and voices.
Those arrested included six recent university graduates allegedly recruited to set up fake cryptocurrency trading platforms. An unnamed source told the South China Morning Post that five of the arrested people carry suspected ties to Sun Yee On, a large organized crime group (often called a “triad”) in Hong Kong and China.
“The syndicate presented fabricated profit transaction records to victims, claiming substantial returns on their investments,” said Fang Chi-kin, head of the New Territories South regional crime unit.