The video is crafted to resemble an A Current Affair interview and showcases modified versions of the treasurer and wealthy individuals
A fraudster paid $7,000 to Facebook’s parent company to target up to 100,000 Australians with a deepfake A Current Affair video. The video showcased altered versions of Jim Chalmers, Dick Smith, Andrew Forrest, and Gina Rinehart. Dick Smith issued a warning after the video circulated on Facebook and Instagram, mimicking an A Current Affair segment with host Ally Langdon interviewing the treasurer and wealthy individuals about an investment opportunity. This incident represents the latest evolution of celebrity scam investment ads, now employing deepfake videos with matched images and replicated voices.
In the video, the fabricated Chalmers falsely asserts that the government has presented a report in parliament endorsing a deceptive investment. The scam claims “government guarantees and recommendations from the treasury,” enticing individuals to start with $349 and promises a weekly withdrawal of $7,200. Dick Smith emphasized the fraudulent nature of the video on his website, stating that scammers manipulated the voice and synchronized it with lip movements to create a deceptive appearance of authenticity. He warned against opening the video or sending any money, categorizing it as a scam.
According to data from the Facebook ad library, the scammers paid between CAD$6,000 and $7,000 (A$7,700) in Canadian dollars for 26 ads between November 23 and 28. This expenditure aimed to reach up to 100,000 impressions on Facebook, averaging approximately 7 cents per view.
The data indicates that the advertisement was more likely to be viewed by men than women, and individuals aged over 45 were more likely to see the ad compared to those in the 35 to 44 age group.
We anticipate digital platforms to proactively block the display of scam ads to users and establish effective reporting channels for users to promptly report any scam ads that manage to bypass initial vetting, ensuring their swift removal.
Meta is currently contending with two legal actions related to the celebrity investment scam ads—an ongoing criminal case initiated by Andrew Forrest in Western Australia and a civil case brought forth by the Australian Competition and Consumer Commission (ACCC).
In October, the federal court dismissed Meta’s request to postpone the ACCC case while the Forrest criminal case proceeded in Western Australia. Meta contended that the civil case might prejudice the criminal proceedings, but federal court justice Elizabeth Cheeseman, in reasons released this week, deemed the move premature and asserted that any potential issues could be appropriately managed.