The Securities Commission Malaysia (SC) has issued an urgent warning regarding a new wave of investment scams that leverage deepfake technology to mislead the public. According to the SC, these scams use sophisticated AI-generated videos featuring well-known public figures and reputable companies to lend an air of legitimacy to fraudulent investment schemes. The deepfake videos, which are meticulously crafted to mimic the voices and appearances of these figures, are being disseminated through social media platforms like Facebook and messaging apps, further amplifying their reach.
These deepfake videos typically include a “Learn More” button or link that directs viewers to a fraudulent sign-up page designed to capture personal information. Once individuals engage with these links, they are often prompted to download malicious applications or provide sensitive details, putting them at risk of identity theft and other forms of cybercrime. The SC has identified this tactic as particularly insidious due to the realistic nature of the deepfakes, which can make the investment opportunities appear highly credible and trustworthy.
In response to these threats, the SC has partnered with Meta to remove the offending videos and limit their availability to the public. Additionally, the commission is collaborating with the Malaysian Communications and Multimedia Commission and other relevant authorities to take further action against these deceptive practices. The SC’s efforts aim to curb the spread of these scams and protect potential victims from falling prey to these sophisticated frauds.
The SC advises the public to exercise extreme caution when evaluating investment offers, particularly those received via social media or unfamiliar sources. It emphasizes the importance of verifying the legitimacy of any investment opportunity and avoiding the transfer of money or personal information to suspicious entities. By staying vigilant and skeptical of unsolicited investment propositions, individuals can better safeguard themselves against the growing threat of deepfake-driven investment scams.
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