heist

FBI busts musician’s elaborate AI-powered $10M streaming-royalty heist

by Benj Edwards
September 5, 2024
I.T. Today
3 min read

On Wednesday, federal prosecutors charged a North Carolina musician with defrauding streaming services of $10 million through an elaborate scheme involving AI, as reported by The New York Times. Michael Smith, 52, allegedly used AI…

Deepfake scammer walks off with million in first-of-its-kind AI heist

Deepfake scammer walks off with $25 million in first-of-its-kind AI heist

by Benj Edwards
February 5, 2024
I.T. Today
3 min read

On Sunday, a report from the South China Morning Post revealed a significant financial loss suffered by a multinational company’s Hong Kong office, amounting to HK$200 million (US$25.6 million), due to a sophisticated scam involving…