Martin Lewis' warning over ‘terrifying’ new scam using deepfake video of him

7 July 2023, 12:55

By Naomi Bartram

@naomibartram

Money Saving Expert Martin Lewis has warned fans about a sophisticated new scam using artificial intelligence.

Martin Lewis has warned fans of ‘frightening’ new investment scam using a deepfake video of him.

The Money Saving Expert has asked authorities to ‘step up’, saying ‘lives will be ruined’ if companies are allowed to share this content.

Taking to Twitter, Martin shared anAI-generated clip which sees him backing an investment scheme by Elon Musk.

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In it, a deepfake version of him says: “Elon Musk presented his project in which he has already invested more than $3 billion.

“Musk’s new project opens up great investment opportunities for British citizens. No project has ever given such opportunities to residents of the country.”

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Alongside the video, Martin added: “This is a scam by criminals trying to steal money.

“This is frightening, it’s the first deep fake video scam I’ve seen with me in it. Govt & regulators must step up to stop big tech publishing such dangerous fakes.

“People’ll lose money and it’ll ruin lives.”

Discussing the scam on Good Morning Britain, he added: “This is going around on Facebook at the moment and this as far as I know is the first deepfake scam advert that we’ve seen – it’s certainly the first with me in.

“It’s an absolutely terrifying development. This is still only early stages of the technology and they are only going to get better.

“Within a year or two there will clearly be the interview that we’re doing now will be manipulated so that you will be asking questions and I would be answering questions about those fake adverts.

“That’s the stage we’re in.”

Martin has campaigned against fake ads and wants social media owners and tech giants to be held responsible under new laws.

Speaking to MPs on the Draft Online Safety Bill Joint Committee in 2021, the financial expert said lives were being ‘destroyed’ by fraudsters who have been using his face in scam adverts.

He went on to reveal a woman with cancer became a victim of a scam and lost thousands of pounds after seeing an advert falsely claiming to be endorsed by him.

He said at the time: “She said ‘It’s Martin sponsoring it, it must be all right’.

“It was a scam, and she lost tens of thousands. She lost £15,000 trying to get back the money initially lost.”