A deepfake video call appearing to be an urgent plea for help from Dubai was used to con a man out of thousands of dirhams.
A retired government official living in Kerala, India, received a call last week from someone he thought was a friend at Dubai Airport.
He received audio and video calls, during which he saw his friend's face.
Seeing his friend chatting away to him as usual put him at ease and he did not hesitate to act when asked for cash to help with an urgent medical emergency.
“I had no reason in the world to think that it was a scam. I have known him for more than 40 years. I even saw his face on my phone's screen and I thought it was him,” said Padiyeri Radhakrishnan, 73.
“We were in the same company for many years, and I immediately recognised his voice.
“He started the conversation asking about how my retired life is in Calicut, and also about my daughter who recently moved to Singapore from Gurgaon in Haryana.
“We also spoke at length about all our friends who are now settled in different parts of India.”
Deepfake is the name given to a form of synthetic media created by artificial intelligence and machine learning algorithms.
It manipulates images, audio and recordings and can create fake video or audio messages from particular people.
The use of the technology is becoming rife around the world.
The UAE's National Programme for Artificial Intelligence and the Council for Digital Well-being published a guide to raise awareness of deepfake technology in 2021.
Mr Radhakrishnan was unaware he was speaking to a digital copy of his friend, so convincing was the voice created to swindle him out of his money.
As the conversation flowed, the caller's tone took an urgent turn. He said he was at the airport in Dubai waiting for his flight to Mumbai.
The voice on the other side explained he was travelling to see his gravely ill sister who urgently needed money for life-saving treatment.
“He said he called several of his relatives, but no one was picking up as it was early hours on a weekend,” Mr Radhakrishnan said.
“It felt genuine. But I still wanted to make sure that I was not making a mistake.
“I told him that I was worried about transferring money as there were several scams doing the rounds and immediately said he would call me on video.
“I saw him on the screen, and he started talking to me. His eyes and lips were moving, and it all looked perfect except that he was holding the phone too close to his face.”
Mr Radhakrishnan said he immediately transferred Indian Rupees 40,000 (Dh2,000) to the account provided by his friend.
“Within minutes, he called again confirming the receipt and assured me that he will transfer back the money as soon he reached Mumbai,” he said.
But what raised the red flag was when the friend asked for more money.
“Suddenly, I felt something was odd. Why would he ask me a second time?” said Mr Radhakrishnan.
“I excused myself, saying I do not have enough cash in my account, and hung up.”
To assuage his doubts, Mr Radhakrishnan then called his friend on the number that he had originally saved.
“To my shock, my friend picked up, and the first thing he said was '[it's been] a long time, I haven’t heard from you',” he said.
“That was the shock of my life. Was he kidding me?
“My friend did not understand what was going on, and he hung up saying he was boarding a flight and will call when he lands.
“It was hard to believe because I spoke to the man, and even saw him. I could not believe what had just happened.”
A senior official from Kerala’s cyber police, who investigated the case, told The National the money had been traced successfully.
“The fraudster had transferred the money to multiple banks at first and later converged it to a single account in a private bank in Maharashtra. That account is frozen,” said the officer.
The officer added the money would be returned to Mr Radhakrishnan as soon as a court orders the release of the funds.
Experts sound alarm
Deepfake frauds have surfaced in many countries recently, with experts and authorities quick to sound warnings.
Early this month, a new deepfake video of MoneySavingExpert.com founder Martin Lewis circulated on social media, with AI mimicking his face and voice to promote an app associated with Tesla and Twitter owner Elon Musk.
“As technology gets more sophisticated, identifying these scams becomes harder but not impossible,” said Candid Wuest, Acronis's vice principal of cyber protection research.
“Pay attention to what is said, how it is said, and whether or not this is normal behaviour.
“For example, if someone without a history of asking you for money all of a sudden needs money right away, your antenna should be up.
“Where did you first meet this person? AI probably won’t know that unless you’ve talked about it before. Specifics are sometimes the best way to identify deep fakes.”
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
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- Disruption Lab and Research Centre for developing entrepreneurial skills
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Oman, UAE, Namibia
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Oman beat UAE by five wickets
UAE beat Namibia by eight runs
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UAE beat Namibia by eight wickets
UAE v Oman - abandoned
Oman v Namibia - abandoned
MATCH INFO
Real Madrid 2
Vinicius Junior (71') Mariano (90 2')
Barcelona 0
Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
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- DLD registration fee can be paid through banks or credit cards at zero interest rates
The biogs
Name: Zinah Madi
Occupation: Co-founder of Dots and links
Nationality: Syrian
Family: Married, Mother of Tala, 18, Sharif, 14, Kareem, 2
Favourite Quote: “There is only one way to succeed in anything, and that is to give it everything.”
Name: Razan Nabulsi
Occupation: Co-founder of Dots and Links
Nationality: Jordanian
Family: Married, Mother of Yahya, 3.5
Favourite Quote: A Chinese proverb that says: “Be not afraid of moving slowly, be afraid only of standing still.”
The biog
From: Upper Egypt
Age: 78
Family: a daughter in Egypt; a son in Dubai and his wife, Nabila
Favourite Abu Dhabi activity: walking near to Emirates Palace
Favourite building in Abu Dhabi: Emirates Palace
Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes.
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com
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What The Saudia Ad Diriyah E-Prix
When Saturday
Where Diriyah in Saudi Arabia
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Who is competing There are 22 drivers, from 11 teams, on the grid, with each vehicle run solely on electronic power.
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Born September 27, 1976
Position Attacking midifelder
Clubs played for (1) - Roma
Total seasons 24
First season 1992/93
Last season 2016/17
Appearances 786
Goals 307
Titles (5) - Serie A 1; Italian Cup 2; Italian Supercup 2
Essentials
The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.
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Men:
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62kg – Joao Gabriel de Sousa
69kg – Gianni Grippo
77kg – Caio Soares
85kg – Manuel Ribamar
94kg – Gustavo Batista
110kg – Erberth Santos
Women:
49kg – Mayssa Bastos
55kg – Nathalie Ribeiro
62kg – Gabrielle McComb
70kg – Thamara Silva
90kg – Gabrieli Pessanha