scam brokersAustralia’s corporate regulator ASIC reported removing a record 19,400 online scams — up about 182% on the prior year — driven in part by a surge in AI-generated impersonations of celebrities, politicians and trusted public figures promoting fake investment schemes. ASIC has described AI-powered impersonation scams as ‘an emergency in the making’.
Why AI changed the game
Scammers now use AI to spin up hyper-realistic fake websites, generate convincing deepfake videos of well-known financial figures, and tailor pitches using details scraped from victims’ social media. The result is fraud that looks more legitimate than ever and scales faster than regulators can take it down.
What to watch for
- ‘Endorsement’ videos of famous figures promoting a trading platform — almost always fake
- Investment ads on social media that lead to polished sites mimicking real exchanges or news outlets
- Requests for remote access to your computer or device
- Urgency: ‘invest now before you miss out’
For the mechanics of automated and AI-driven schemes, see our piece on AI trading bot scams. Remember: real regulated firms do not recruit investors through celebrity deepfakes.
This article summarises publicly reported regulatory actions and news for educational and consumer-awareness purposes. Details are based on statements from regulators and press reports at the time of writing; always verify the current status of any firm directly with the relevant regulator before making decisions.
