Cybertrace Warns of Deepfake Scam Video Featuring Australian Magnate Andrew Forrest
Summary:
Cybersecurity firm Cybertrace has issued a warning about a persuasive deep fake video of Australian businessman Andrew "Twiggy" Forrest, endorsing a fraudulent crypto trading platform on social media. The fake video redirects users to a site named "Quantum AI", associated with scams and financial fraud. The deep fake video was detected on Facebook on January 27 and uses AI technology to mimic Forrest's speech and physical behaviors. Cybertrace has urged the public to be vigilant amid a rise in such scams, which have previously targeted several high-profile Australians and resulted in Australians losing over $2 billion to frauds in 2022.
Cybertrace, a renowned cybersecurity firm, recently sounded an alarm about a persuasive deep fake video that pictures Andrew “Twiggy” Forrest, a well-known Australian entrepreneur and mining tycoon, advocating for a fraudulent cryptocurrency trading platform shared on social media. This deceptive video, appearing on Facebook, lures users into registering for a counterfeit platform alleged to guarantee daily thousands of dollars to "common people." The prospective targets are normally redirected to a site named “Quantum AI,” identified by Cybertrace as a badge frequently linked to scams and money swindles. Cybertrace chief, Dan Halpin, expressed to The Australian his apprehension that this deepfake would likely fool many as the fraudsters seemed to have adequate sales training.
The extensive and notably monotonous video, Halpin added, seemed to be devised by someone well-versed in sales and marketing techniques.
The fabricated video seeks to mimic Forrest’s expression and physical demeanours from a "fireside chat" hosted by Rhodes Trust in October. Cybertrace noticed the deep fake circulated on Facebook on January 27, where Forrest's AI-edited outline could be viewed endorsing a fraudulent crypto trading application.
The AI-manipulated version of Forrest promises to offer a lifetime opportunity by partnering with him in the "world's smartest stock and cryptocurrency trading application that makes money [...] irrespective of market environment." He further assures the application has been generating between $700 to $2,200 daily for 9 uninterrupted months for ordinary people and soon expects to provide similar results for forthcoming users.
Forrest, one of Australia's most prosperous entrepreneurs, with a net worth of $29.4 billion as per Bloomberg, was formerly the CEO of Fortescue Metals Group, a leading mining firm in Western Australia.
The deceptive video concludes with Forrest strongly encouraging viewers to register for the platform before it ceases to be available. Cybertrace has urged users to display heightened alertness due to the recent surge in deep fake frauds.
This rise of deep fakes has even grabbed the attention of legislators in the United States after counterfeit pictures of Taylor Swift began making rounds. Specifically, U.S. Representative Joe Morelle has urged for the criminalization of deep fake image creation within the country.
Cybertrace also brings to light that prominent Australian figures such as Gina Rinehart, the country's wealthiest individual, businessman Dick Smith, and TV anchor Allison Langdon, have similarly been targeted by deep fake scams.
A growing trend of imitating influential Australian businessmen and political figures comes as Australians declared a loss of more than $2 billion (3.1 billion Australian dollars) to frauds in 2022, as stated by the country's competition and consumer regulator. Furthermore, in 2022, a sum of $148.3 million (221.3 million Australian dollars) was lost to investment frauds that employed cryptocurrency as the transaction medium - marking a colossal increase of 162.4% from 2021.
Published At
2/2/2024 7:04:14 AM
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