Consumer finance expert Martin Lewis has voiced his concerns after a deepfake scam video featuring his likeness surfaced on Facebook.
The video attempts to deceive viewers into investing in a fictitious project supposedly endorsed by Elon Musk, utilizing a computer-generated version of Lewis to entice potential victims.
Lewis described the advertisement as “strange and quite alarming,” urging the public to exercise caution before sending money to unfamiliar sources. In an appearance on BBC Radio 4’s Today program, he remarked, "My identity and visage have been exploited in scam ads for years, and I receive numerous reports daily. However, this is the first deepfake I’ve encountered featuring me. Although it’s not flawless, it’s a significant milestone, and technology is advancing quickly. It’s truly unacceptable, and people will inevitably fall victim to it."
He stressed the importance of regulatory measures keeping pace with technological advancements to mitigate the risks posed by AI deepfake technology, which can impersonate individuals, disseminate misinformation, and defraud consumers.
Lewis added, “There is a strong apprehension about big tech in this country, and we must implement effective regulations. Vulnerable individuals are being scammed, yet appropriate actions are lacking.”
Similarly, Dan Holmes, a fraud expert at Feedzai, provided insight on the issue, stating, “The emergence of generative AI has opened a Pandora’s box of challenges for both individuals and businesses. While the UK Government aims to establish the nation as a leader in addressing AI threats, it must not underestimate the sophistication of criminal enterprises. A holistic approach that integrates legal structures, technological investment, and consumer education is essential to effectively identify and combat fraud.”
Holmes concluded, “Whether the UK can achieve its ambitions in AI regulation remains uncertain; however, the initial focus must be on fraud prevention to safeguard consumers from increasingly sophisticated and malicious criminal activities.”
In 2018, Lewis initiated legal action against Facebook concerning fake ads that misused his identity, but he subsequently withdrew the lawsuit after the company made commitments and contributed £3 million to Citizens Advice.