Deepfake scams where AI-generated versions of celebrities attempting to lure unsuspecting internet users onto dodgy sites are unfortunately nothing new in the current high-tech era.
But the prevalence of the scam became very real for followers of prominent Australian media company Channel 7 after the station’s social media channel was taken over by fake videos of Elon Musk, who owns X and Tesla.
The deepfake videos of the famous billionaire encouraged users to scan a QR code to earn cryptocurrency.
“All you need to do is scan the QR code on the screen, go to the website and watch your cryptocurrency double,” the fake likeness of Mr. Musk says.
The AI then tells users it’s an opportunity that can’t be missed and that they will have a chance to double their assets.
The videos were so convincing, they included an audience engaging in Q&A with the fake character, as well as comments from a fake Tesla page.
Channel 7 ended up removing most of its social media accounts from view after the takeover.
Deepfake Scams Becoming Increasingly Sophisticated
In March this year, government scam watchdog, Scamwatch, warned of the prevalence of AI videos claiming to show celebrities encouraging people to invest in cryptocurrency—a common deepfake involves a likeness of Australian actor Hugh Jackman.While this type of scam relies on AI to deceive users, it also uses AI to lure unsuspecting netizens.
“The platforms claim to use AI and other technologies like quantum computing to create high profits for investors,” according to Scamwatch.
Fake names are commonly used for pretend investment companies, including Quantum AI, Immediate Edge, Immediate Connect, Immediate X3, and Quantum Trade Wave.
How the Scams Work
According to Scamwatch, the scams work via deepfake videos, clickbait, and news articles that claim celebrities have used crypto platforms to make money.Links on these platforms then lead to websites where users are asked to sign up, after which a scammer portrayed as an account manager will call the victim to ask for around $250 to sign up.
They are told to download an app, so they can invest more money. Scammers often use an online dashboard that proports to show small profits, further enticing users.
When it comes time to withdraw the money, the scammers demand withdrawal fees or mention tax issues to access the money, people are then locked out of their accounts and never get their money back.
The Criminal Code Amendment (Deepfake Sexual Material) Bill 2024 was introduced into the Australian Parliament last month, with the aim of cracking down on the use of deepfake material generated to show likenesses of innocent victims in sexually explicit images and videos.
The Australian Information Industry Association says the federal government also needs to strike a balance between laws to help prevent the misuse of AI, and help encourage the growth of AI for positive purposes.
