ASIC warns deepfake of PM Albanese used in scams costing Australians $7.4 million

Australia’s corporate watchdog has warned that scammers are increasingly using deep‑fake videos of public figures to lure investors into fraudulent schemes. The Australian Securities and Investments Commission (ASIC) reported a sharp rise in such scams, noting that the technology allows fraudsters to create convincing, yet entirely fabricated, endorsements of bogus investment opportunities.

According to ASIC’s latest briefing, Anthony Albanese, the country’s Prime Minister, is the most frequently impersonated figure in these deep‑fake videos. The videos typically depict the politician endorsing high‑yield investment products that do not exist, prompting viewers to send money or share personal details. ASIC urges the public to verify any investment opportunity through official channels and to remain skeptical of unsolicited endorsements that appear on social media or messaging platforms.

The watchdog’s alert underscores the growing sophistication of online fraud and the need for heightened vigilance. While deep‑fake technology offers legitimate uses, its misuse poses a serious threat to unsuspecting investors. ASIC remains committed to monitoring and reporting such deceptive practices, calling on individuals to report suspicious content and to seek professional financial advice before committing funds.