That famous face in your social media feed recommending an investment, a donation or that you try a new product may not be the real thing. It could a deepfake.
Deepfakes are realistic digital forgeries scammers create to bypass your defences.
Scammers have used famous people to deceive others long before the internet existed. In the past a well-known face might turn up in an advertising endorsement they knew nothing about.
With today’s AI, scammers can digitally create authentic-looking images or videos. They can also mimic someone’s speech patterns with AI-generated audio. That way, when you see or hear the message or endorsement, it appears genuine.
Last year the Financial Markets Authority (FMA) warned that scammers had used images of Prime Minister Christopher Luxon to trick people into fraudulent investments. Another scam had Clarke Gayford endorsing an investment while All Blacks Legend Richie McCaw featured in a scam promoting CBD gummies.
Deepfake scams go beyond investments—they may involve fake donation appeals or romance scams.
ASB Bank’s digital fraud expert Alex Hinde says you are most likely to encounter celebrity deepfakes on social media platforms. He says: “With generative AI, scammers are able to take a genuine video or sound clip that was recorded legitimately and use that to modify the images or speech to promote fraudulent sites, offers and or investments”.
It can be hard to tell if a message or endorsement is a fake. At times you may notice that something doesn’t seem right. Your instincts can help. Look for odd details, such as distorted backgrounds or wavy lines where you’d expect straight ones. A person’s skin may appear unnaturally smooth. Their face might move in strange ways.
Otherwise, it’s a matter of taking care. “Always approach investments with caution—due diligence is key, and that includes doing multiple types of checks. If you see an investment opportunity online, search the company or celebrity’s name followed by the word ‘scam’. Often this will serve up warnings that may have already been posted about certain scams. You can also see if you can find the company on official registers that list legitimate financial service advisers and providers.
Additionally, for investment opportunities advertised or endorsed by celebrities on social media, checking they’re coming from profiles with verified ticks can be helpful, but these too can be exploited. Another reason why doing multiple types of checks is always recommended.
Hinde suggests that if you’re unsure, it may help to contact the person directly through official channels. “We have seen some of these scams flagged where a family member or a friend spots the promotion and asks, ‘is that really you?’ Then the person can alert everyone”.
There is also the ‘sniff test’. Does this endorsement seem credible?
If you see an endorsement from a high-profile person, it’s worth stopping and asking yourself if this person has a history of promoting the kind of products and services in the offer. A well-known sports personality might promote fitness or nutrition products but be wary if they suddenly endorse risky cryptocurrency investments.
Celebrity deepfakes get most of the publicity, but an equally dangerous type of deepfake attack might involve something that looks or sounds like your boss asking you to urgently send them money. They might tell you they are overseas and in trouble or that they are locked out of the company computer system and need a password to gain remote access. This poses a significant cybersecurity risk.
Scammers can use sites like LinkedIn to understand a company’s organisational structure. They may find videos, images or audio of a CEO or another senior executive they can use as learning content for generative AI before creating a deepfake. This is a reminder to be mindful of what you share online—it could be used against you.
How to help protect yourself from deepfake scams:
- Do multiple due diligence checks – Scammers are incredibly smart and insidious, so it always pays to do more than one type of check especially when it comes to donations or investments.
- Verify before you trust – Never take an endorsement at face value. Independently research offers, looking beyond the links provided. Check official sources and reviews to confirm legitimacy.
- Trust your instincts – If something feels off, even if you can’t pinpoint why, be cautious.
- Don’t be hurried – Scammers rely on creating urgency or emotional reactions to bypass your natural scepticism. Genuine offers rarely have to be acted on immediately.
- Check for known scams – Search the company or celebrity’s name followed by the word ‘scam’ to see if there are warnings posted about them. Also check official websites and consumer protection agencies for reports of scams linked to the brand, company or individual involved.
- Analyse voice and video carefully – Deepfakes often have subtle inconsistencies, such as unnatural blinking, mismatched lip movements or robotic-sounding speech. If in doubt, compare with verified footage. Ask yourself if this is the kind of message you might expect from the person you are watching.
- Use verification tools – AI-detection tools, reverse image searches and official brand contact details can help confirm authenticity before engaging.
Call your bank immediately if you think your card or banking details have been compromised.
For more information that can help you and your family stay safe from scams, head to asb.co.nz/scamhub.