What happened
The Australian Securities and Investments Commission issued a formal warning highlighting a sharp rise in investment scams using generative AI deepfakes of prominent Australians, including Anthony Albanese and Alan Kohler. ASIC revealed it removed over 19,400 online scams in FY26, representing a 182 per cent increase over the previous year.
Why it matters here
As financial fraud becomes harder to identify through visual appearance alone, investor trust in digital wealth platforms and online investment channels is threatened. Scammers are creating complex webs of fake news sites and fabricated customer reviews to validate unlicensed financial products and unverified cryptocurrency platforms.
What to watch
Regular guidance updates from the National Anti-Scam Centre and ASIC regarding verified Australian financial services licensees and newly blacklisted domain names.
Source
asic.gov.au