Tasmanian scam victim sounds warning over ‘deep fake’ Facebook investment videos

A Hobart woman has called for a crackdown on social media scams ads after she paid money to a purported investment scheme which used “deep fake” videos of well-known Australians.

A deep fake scam video of Andrew Forrest.

A Hobart woman has called for greater consumer protections from social media scam ads, after she paid money to a purported investment scheme promoting itself on Facebook using “deep fake” videos of businessmen Andrew Forrest and Dick Smith, and Senator Penny Wong.

The woman, who asked not to be named, said she had no reason to suspect the high-quality footage was not genuine, and subsequently dialled in to speak with someone she believed to be an investment adviser.

“Dick Smith is a millionaire and Penny Wong is a Senator, so why wouldn’t I believe what they were saying,” the woman said of the digitally altered videos.

“I can’t believe that people could do something like this.

“It’s just so wrong.

“It’s cost me a few years off my life.”

Labor Senator Penny Wong. Picture: NewsWire / Martin Ollman

Dick Smith. Picture: Nikki Short

Realising she had been deceived, the woman sought advice from federal member for Clark, Andrew Wilkie, who told the Mercury his office was being contacted on a weekly basis by people who had lost money to scams.

Mr Wilkie said he had raised his concerns about financial fraud with state and federal governments, but said big tech companies and financial institutions both had important roles to play in stamping out what he called a “disturbing” increase in scamming.

“It’s alarming that technology has reached a point where people can be impersonated so convincingly, while at the same time the companies that own the online platforms are so reluctant to put in place effective measures to stop the scams,” Mr Wilkie said of the deep fake videos.

“I’m one of the independents who has been pressing the Federal Government to introduce a scheme, like in the United Kingdom, where banks have to repay customers who have been scammed.”

The Hobart woman said that when she called the number listed in the online ad, the person she spoke to made assurances that the investment business was legitimate, and was backed by the Australian Government.

“They told me that the site was safe and everything would be OK,” the woman recalled.

“I was told I could earn up to $1000 per day.

“I thought I would have to kiss my money goodbye, but my bank has now said it can possibly reverse the payment.”

Mr Wilkie said anybody who suspected they had paid money to a scammer should immediately contact their bank or card provider to request a stop on transactions, and to lodge a report with the Australian Competition and Consumer Commission’s Scamwatch service.

Andrew Wilkie MP. Picture: NewsWire / Martin Ollman

An ACCC spokesperson told the Mercury that the likelihood of retrieving funds from scamming operations was very low, with stolen money typically transferred to offshore jurisdictions within a matter of minutes.

The ACCC said it was currently engaged in legal action against Facebook parent company Meta over its hosting of deep fake videos.

“In 2022, the ACCC instituted proceedings alleging that Meta Platforms Inc and one of its subsidiaries engaged in false, misleading, or deceptive conduct under the Australian Consumer Law by publishing scam advertisements featuring prominent Australian public figures,” the spokesperson said.

“These proceedings are ongoing.”

Last month, a US court ruled that Mr Forrest could sue Meta over the scam ads on Facebook which feature his likeness.