Martin Lewis warns of AI-generated deepfake investment scams on social media
Martin Lewis, a UK consumer finance expert, has warned of AI-generated deepfake scams appearing on social media platforms that falsely depict him in criminal situations to promote fake investment schemes. A 2023 incident saw a victim lose £75,000 after being tricked by a deepfake video featuring Lewis's voice.
What happened
AI-generated deepfake images and videos of Martin Lewis, a consumer finance expert, are being used in scams on social media platforms. The scams feature images of Lewis in handcuffs with police officers and text stating 'Is this the end of Martin's career?'
The scams use these deepfakes as clickbait to draw people to investment schemes that do not exist. The criminals behind the scams aim to persuade victims to set up investment products, potentially causing losses of thousands of pounds.
Reported impact
In 2023, an individual named Des Healey lost £75,000 after being deceived by a deepfake video featuring Lewis's voice in a purported conversation with a fake Elon Musk discussing a bitcoin investment scheme.
Index analysis
The scams exploit the reputation and image of a public figure to build credibility with potential victims. Social media platforms have been criticized for not adequately checking advertisements before they appear on their services.
Classification
Sources and evidence
This record was researched and written by the Index, based on the following original reporting.