Australian regulators are warning the public about a sharp rise in AI-generated deep-fake videos used to promote fraudulent investment schemes.

These scams leverage the perceived credibility of trusted public figures to trick individuals into depositing money into bogus platforms. The use of realistic artificial intelligence makes it increasingly difficult for the average consumer to distinguish between legitimate financial advice and sophisticated fraud.

In the past financial year ending June 2026, the Australian Securities and Investments Commission (ASIC) removed 19,478 scams [1]. This figure represents a 182 percent increase [2] compared with the previous year.

Fraudsters are specifically targeting the likenesses of well-known figures to lend an air of authority to their schemes. Among those most frequently impersonated are financial commentator Alan Kohler, the Prime Minister, and mining magnate Gina Rinehart [1].

These deep-fake videos often appear as social media advertisements or sponsored posts. They typically promise high returns with low risk, a common red flag for investment fraud, while using AI to mimic the voice and appearance of the impersonated person [1].

ASIC has increased its monitoring of digital platforms to identify and remove these deceptive ads. However, the ease of creating high-quality AI content allows scammers to generate new variations of these videos faster than regulators can sometimes track them [1].

The regulator continues to urge investors to verify any investment opportunity through official channels. They said that the public should remain skeptical of unsolicited financial offers, regardless of who appears to be endorsing them in a video [1].

“ASIC removed 19,478 scams in the past financial year.”

The rapid escalation in deep-fake fraud indicates a shift in cybercrime tactics where social engineering is amplified by generative AI. By impersonating recognized authorities, scammers bypass traditional skepticism, suggesting that digital literacy and verification tools must now evolve to counter synthetic media that is visually and auditorily indistinguishable from reality.