Ferrari executive foils president scam backed by deepfake

And it did so by asking a simple question that only the real Benedetto Vigna (Ferrari CEO) could answer. 

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What is a president scam?

For cyber neophytes, a president scam is a modus operandi during which a scammer calls an employee of a company, posing as one of its executives, and requests the urgent execution of a transfer to a specific bank account. So the Ferrari executive first received a series of messages from Benedetto Vigna - but they weren't his usual work phone number or profile picture. The scammer called the executive, explaining that a "major acquisition" was being prepared - and therefore funds would need to be transferred - and that the reason he was calling from an unknown phone number was for confidentiality and security reasons.

According to the Ferrari executive who received the call, Benedetto Vigna's voice was very convincing, right down to a perfect imitation of a southern Italian accent. But he became suspicious, realizing that something wasn't quite right, and perceiving intonations that were slightly too "mechanical".

He then asked the fake Benedetto to give him the title of the book he had personally recommended to him a few days earlier. And on that question, the call cut off. This initiative - identifying the caller - is an excellent example of good computer hygiene, and helped thwart the scam.

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Deepfakes scams: a growing trend over the past two years

Attempted deepfake scams of this kind have exploded over the last two years, particularly between 2022 and 2023: the annual report from Sumsub estimates a 10-fold increase in deepfake cases worldwide. Of course, this trend is exacerbated by the democratization of the use of generative AI, which aids in the creation of these fake videos, audio recordings and other doctored images.

But while this Ferrari executive has demonstrated impeccable computer hygiene, other companies have already fallen victim to these scams. One example is a Hong Kong multinational [not named in the media], which lost $26 million after scammers used deepfakes of the CFO to convince victims to transfer money.

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Avoiding deepfakes scams: best practices

What is a deepfake?

A deepfake (or hypertrucage) is a synthesis technique that consists of creating a faked video or audio recording with the help of artificial intelligence.

5 tips for spotting deepfakes

1. Listen carefully to the voice, intonation, and audio quality.
   Deepfakes can sometimes have a sound that doesn't exactly match the visual environment (such as sounding too clear in too noisy an environment) or have anomalies in voice tone that sound artificial.
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2. Pay attention to facial expressions and eye movements.
   Deepfakes may have difficulty imitating facial micro-expressions, blinking or eye movements in a natural way. If the face is too rigid, or the eyes blink irregularly, too often or not at all, this may indicate a faked video.
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3. Analyze lip synchronization.
   Deepfakes can have trouble perfectly reproducing lip synchronization with audio. Pay attention to how the lips move in relation to the spoken words. If something seems off or unusual, it's a potential sign of a deepfake.
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4. Look at the lighting, shadows, and resolution of the image.
   Look at the quality of the image and the consistency of the play of light, especially in the areas around the edges of the face, hair and clothing. Deepfakes can exhibit visual artifacts, such as blurring, distortion or abnormal pixels, especially during rapid movement.
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5. Use online deepfake detection tools.
   Tools such as Deepware (free, open source), Illuminarty (freemium) or Sensity (premium) can detect images, texts or videos potentially generated by artificial intelligence.

Integrate cyber hygiene into your corporate culture

Cyber hygiene refers to the habits organizations and individuals adopt to protect their information systems from cyber attacks - including social engineering schemes such as the president scam.

Cybercriminals do not systematically attack a company director's machine with brute force: they will operate at a lower, less secure level, and in a more subtle way. So it's important that all your employees are aware of the risks, and trained in basic cyber hygiene practices: don't open suspicious e-mails or links, verify information, and don't hesitate to speak directly to colleagues if in doubt.

For more information on cyber hygiene, you can also check out this short guide to good cyber hygiene practices, by OverSOC.