Scammers used AI-generated deepfake videos and fake news articles featuring celebrities to promote fraudulent cryptocurrency investment platforms, causing over $8 million in losses to more than 400 Australian victims in 2023.
In 2023, the Australian National Anti-Scam Centre received over 400 reports of investment scams that used AI-generated deepfake videos and fake news articles featuring celebrities to promote fraudulent online trading platforms. The scammers created fake content featuring celebrities like David Koch (leading to the nickname 'Kochie scam'), Elon Musk, and footballer Samantha Kerr, which appeared as advertisements on reputable news sites and social media platforms. One Australian man lost $80,000 in cryptocurrency after viewing a deepfake Elon Musk video interview, registering his details, and being provided with an account manager who showed fake investment returns before locking him out when he tried to withdraw funds. The fraudulent platforms operated under names including Quantum AI, Immediate Edge, Immediate Connect, Immediate X3, and Quantum Trade Wave. The scams cost Australians more than $8 million in total losses in 2023. Victims who provided contact details were subjected to persistent harassment, with one woman receiving over 60 calls from scammers after declining to invest.
Domain classification, causal taxonomy, severity scores, and national security assessments were LLM-classified and may contain errors.
Using AI systems to gain a personal advantage over others such as through cheating, fraud, scams, blackmail or targeted manipulation of beliefs or behavior. Examples include AI-facilitated plagiarism for research or education, impersonating a trusted or fake individual for illegitimate financial benefit, or creating humiliating or sexual imagery.
Human
Due to a decision or action made by humans
Intentional
Due to an expected outcome from pursuing a goal
Post-deployment
Occurring after the AI model has been trained and deployed