Fraudsters digitally cloned Arup’s CFO, then fooled an employee into transferring the funds. The U.K. company’s east Asia chair Andy Lee subsequently stepped down from the company after just a year in the role. (Financial Times)

Talking point: “Our financial stability and business operations were not affected and none of our internal systems were compromised,” the company told the Financial Times. The fraud incident at Arup, which employs 18,000 globally, underscores the sophistication of deepfake scams, which use publicly available audio and video footage along with AI to construct passably realistic avatars of real people. Scammers recently “cloned” Mark Read, CEO of advertising giant WPP, in a similar (though unsuccessful) attempt.