Financial analyst cloned in AI deepfake investment scam
Scammers used AI-generated deepfake video of financial analyst Michael Hewson to promote a fraudulent investment scheme on WhatsApp through Facebook and Instagram. The video, viewed tens of thousands of times before removal, caused reputational harm to Hewson and financial losses to victims.
What happened
Scammers created a deepfake video impersonating financial analyst Michael Hewson, host of the Good Money Guide Podcast, and shared it on Facebook and Instagram to promote a fraudulent WhatsApp investment scheme.
The video was seen tens of thousands of times before Meta removed it, despite being reported multiple times as fraudulent.
Reported impact
The scam caused reputational harm to Hewson and potential financial losses for victims who joined the fraudulent WhatsApp group.
Index analysis
Advances in AI technology have made it simple for anyone to create realistic deepfakes for fraud. Social media companies have been criticised for slow responses in removing such scams, which are often promoted using targeted advertising tools.
Classification
Sources and evidence
Sources not yet published
This record was researched and written by the Index from original reporting. Its sources are still being verified by an editor, and they are listed here once that check is complete. Until then the record carries no reviewer.