Celebrity warning as scammers use AI deepfake videos to lure Australians
Updated . First published at
Scammers exploiting the power of AI - including using deepfake videos of 9News personalities Deborah Knight and Chris Kohler - are ripping thousands from vulnerable Australians in investment scams.
The practice of offering false investment websites and platforms has become increasingly common, and the emerging technology makes it harder to detect, the consumer watchdog warns in a new report.
An image of 9News journalist Deborah Knight was used in this scam. 9News
The Australian Securities and Investments Commission (ASIC) said it has removed more than 19,000 scams in the past 12 months, a rise of 182 per cent compared with the previous year.
The hoaxes typically involve AI deepfakes of well-known finance experts or politicians on social media, which take victims to fake news websites verifying “social proof” then directing victims to dubious investment websites.
In one fake video, a badly-dubbed voiceover over a video of Deborah Knight is played, before it cuts to Nine’s personal finance expert Chris Kohler.
All of the deepfake videos, including those with nine personalities, attempt to legitimise scam websites to the unsuspecting viewer.
Other faces masqueraded in the scams include Australia’s richest person Gina Rinehart, economist Stephen Koukoulas, the late broadcaster John Laws, Prime Minister Anthony Albanese and Opposition Leader Angus Taylor.
ASIC says scammers are targeting the online sites that consumers use to check whether an investment is genuine.
Consumers are then deceived by news articles, positive reviews, ads and websites to persuade them in parting with their money.
This scam featured images of ABC finance editor Alan Kohler and Reserve Bank Governor Michele Bullock supposedly endorsing an investment scheme. Supplied by ASIC
Once victims have provided their details, scammers follow up with scripted phone calls, fake investment platforms and even small profit payments to build trust.
But in reality, the victims’ money ends up with overseas criminals.
Scammers are also becoming increasingly sensitive to broader changes in the news cycle and manipulating images of public figures around topical issues.
ASIC chair Sarah Court said consumers should be especially cautious if they see a celebrity or influencer promoting an investment opportunity online.
“Before investing, consumers should verify website addresses, check whether a person or company is legitimate and who they claim to be, and be wary of urgent calls to act,” she said.
The consumer watchdog advises people to always verify if an investment plan has an Australian Financial Services Licence (AFSL), though this is not a guarantee that one is legitimate or that it will produce the declared returns.
Some scam websites mimic legitimate companies, including their AFSL, and users need to ensure that the investment is the same as the name on the licence.
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