Deepfake Anthony Albanese used in celebrity scams duping Australians out of $7.4m, Asic warns

The Australian corporate watchdog, ASIC, has raised concerns about a surge in scams involving deepfakes of celebrities and politicians, with Anthony Albanese being the most commonly used figure. In one instance, a video featuring a deepfake of Albanese surfaced online, claiming that Australians could invest $4,000 to earn $40,000 a month.

The video falsely described the opportunity as an "official platform" with a government guarantee. ASIC dealt with over 19,400 scams in the previous financial year, almost triple the number from the year before. The rise of artificial intelligence has made it easier to create deepfakes, which are often accompanied by fake networks of websites, reviews, news articles, and videos that convince victims to send money to overseas criminals.

According to Scamwatch reports, Australians lost $7.4 million to the top 10 impersonated public figures, with Albanese topping the list. In a deepfake video, Albanese promised people could earn $35 an hour, or $850 per day, and over $25,000 per month, employing misleading math and an American accent. Economists, politicians, and entrepreneurs such as Tom Piotrowski, Stephen Koukoulas, Jacqui Lambie, Angus Taylor, Dick Smith, Gina Rinehart, Alan Oster, Pauline Hanson, and John Laws were among the top five impersonated public figures.

Asic warned that the presence of polished content, familiar branding, or convincing testimonials does not guarantee the legitimacy of an investment. Before investing, consumers should verify website addresses, check the legitimacy of individuals or companies, and be wary of urgent calls to act. ASIC advises consumers to stop before sharing money or information, independently verify details, and report any scams to them, their bank, or cyber.gov.au.

Consumers should also check for a certified Australian financial services licence, while being aware that scammers may misuse those licences. A recent Commonwealth Bank study found that while nine out of ten Australians feel confident in spotting AI scams, they are actually successful less than half the time. Deepfakes are also being increasingly used for political purposes, with Independent MP Zali Steggall proposing a bill to require AI-generated content that could mislead voters to be clearly identified.