Australia's corporate regulator has reported a significant increase in scams utilizing deepfake technology, with Prime Minister Anthony Albanese being the most impersonated figure. Victims have lost approximately $7.4 million to fraudulent investment schemes that feature manipulated videos of Albanese promoting unrealistic returns on investments.
The Australian Securities and Investment Commission (ASIC) noted that the rise in deepfake scams coincides with advancements in artificial intelligence, making it easier for scammers to create convincing content. Consumers are urged to verify investment opportunities independently and report any suspicious activity.