This Is a Ferrari Executive's Method to Avoid Deepfake Scams: Ask the Scammer a Question That Only the CEO Would Know the Answer to

A few days ago, a Ferrari executive received a series of unexpected WhatsApp messages on his phone. The sender appeared to be Benedetto Vigna, the current CEO of the legendary car brand. However, it was soon discovered that the messages weren’t actually from him.

It resembled the CEO, but… In one of the messages, the impersonator asked the manager, “Hey, did you hear about the big acquisition we’re planning? I could need your help.” These messages didn’t originate from the CEO’s usual number, and the imposter’s profile picture was also different.

Looking for secrets. “Be ready to sign the Non-Disclosure Agreement our lawyer is set to send you asap,” the imposer said in another message. “Italy’s market regulator and Milan stock-exchange have been already informed. Stay ready and please utmost discretion.”

Something’s off, even though it’s his voice. Fortunately, the executive who received these text messages quickly realized that they weren’t normal. Despite Vigna’s familiar way of speaking, the manager also detected something was wrong.

Trying to convince the victim. In order to convince the executive, the person behind the scam explained that the phone number was different due to a confidential agreement and potential obstacles in China. He suggested the need for an unspecified currency hedging transaction.

Prove you're the CEO. Frustrated by the situation, the executive asked the scammer: “Sorry, Benedetto, but I need to identify you.” He then asked him to recall the title of a book that Vigna had recommended a few days ago. Suddenly, the call was cut off. Ferrari has initiated an internal investigation, but the company’s representatives declined to comment on the matter, Bloomberg reports.

Family passwords: a good technique to avoid becoming a victim. The executive’s approach was perfect: First of all, he wanted to verify the caller’s identity by asking them something that only the two of them knew. This method, known as “family passwords,” can also help protect against deepfake threats.

Deepfakes are worrying. Cybercriminals use these techniques to impersonate others and deceive victims, posing a significant threat to ordinary people and companies. This year, a multinational company in Hong Kong lost $25 million due to a deepfake scam.

This article was written by Javier Pastor and originally published in Spanish on Xataka.

Image | Hans M

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