'Deepfakes' on TikTok have convinced many to part ways with huge amounts of their money online
Fake videos of public figures have started to gain traction online, with the AI-generated celebrities appearing to promote services which have turned out to be scams. The videos are known as 'deepfakes', which involve AI to make it appear as though the famous faces are endorsing products they actually don't.
Almost all of them featured Elon Musk, with the AI altered video appearing to show the Twitter, now X, owner encouraging viewers to invest their money in fake platforms. While Musk has nothing to do with these fake schemes, Musk has previously welcomed the increasing use of cryptocurrencies in everyday life, and so has become a common figure for scammers to use in their videos.
The online scam industry is booming right now both in the UK and US. According to the United State's FBI, last year victims reported a record $10.2billion in money lost to scams in the US alone. Meanwhile in Britain, a surge in internet scams since the pandemic has seen online fraud cost Brits more than £1.2billion last year.
Nofziger spoke to NBC, saying: "We've had celebrity impostor scams for a while, but what the AI can do is really accelerate the level of sophistication and help the criminals pivot really quickly." Impersonation scams may sound far fetched, but every day many are losing fortunes to scammers though this method.
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