Thought Leadership
The Italian sports car manufacturer Ferrari recently experienced a delicate deepfake attack. A high-ranking manager became the target of a fraud attempt in which criminals used AI technology to imitate the company’s CEO.
It all began with a series of WhatsApp messages. The sender posed as Benedetto Vigna, CEO of Ferrari. The profile picture showed Vigna in front of the Ferrari logo. The messages mentioned a secret takeover that urgently needed support.
Shortly after, a call followed. The voice on the other end sounded deceptively like Vigna, including his characteristic southern Italian accent. The supposed CEO asked for an unspecified currency transaction to be carried out.
Manager sees through the deception
However, the Ferrari manager in question became suspicious. He noticed small inconsistencies in the voice, and the unusual financial demand made him wary. Quick-wittedly, he asked a personal question about a book that the real Vigna had recently recommended to him. When the caller couldn’t answer this, the fraud was exposed.
After the manager’s clever unmasking, Ferrari immediately initiated internal investigations. The fraudster’s goal was, as is often the case, financial in nature. The fake Benedetto Vigna allegedly wanted to discuss a “China-related business” that required a currency hedging transaction. It was precisely this unusual request that set off alarm bells for the unnamed executive and prompted him to ask the revealing question about the book title.
Deepfake again and again
This type of corporate fraud is becoming increasingly popular. The engineering giant Arup in Hong Kong was induced to transfer 25 million dollars to a fraudster earlier this year after an employee was deceived with a similar tactic. Thanks to the Ferrari manager’s quick thinking, the Italian supercar manufacturer was saved from a major financial loss and worldwide embarrassment.
