Deepfake celebrities are the new face of investment scams

ASIC is warning that Australians have lost at least $7.4 million to investment scams promoted with deepfake videos of public figures — including the Prime Minister.

How it works

You see a video ad on social media: a familiar face "endorsing" a trading platform.
You click through, register, and a friendly "account manager" guides you to deposit.
Early "profits" look real, so you deposit more — then withdrawals stop and the account manager vanishes.

The video looks and sounds like the real person. That is the point. Deepfake video is now cheap enough to industrialise, and celebrities are the bait.

How to spot it

Public figures don't endorse trading platforms. If a politician or celebrity is telling you to invest, it's a scam — they have no idea you're seeing this.
Check the official account. Search the person's name + "scam" before you click anything.
Real platforms never push you to deposit via crypto or "fast-track" accounts.

If you've already sent money

Call your bank immediately, report the platform to ASIC and the scam to Scamwatch or ReportCyber — and beware the follow-up scam: anyone offering to "recover your money" for a fee is scamming you again.