A fake BBC-style interview featuring Reserve Bank governor Michele Bullock and Alan Kohler demonstrates how AI-generated content can impersonate officials to push unlicensed financial services.

ASIC notes a dramatic rise in scams last year, with a 182% overall increase and substantial jumps in phishing (279%) and fake investment platforms (151%).

Investors are urged to verify licence details using verifiable Australian Financial Services numbers and to avoid investments if licence information cannot be confirmed or doesn’t match official records.

ASIC warns of a surge in scams that use deepfake images or videos of celebrities and politicians, powered by generative AI, making it crucial for investors to verify who they’re dealing with.

Public figures like Kohler and Prime Minister Anthony Albanese are frequently impersonated, showing scammers target recognizable names to gain trust.

Scammers create interconnected fake brands and online footprints—fake articles, quotes, ads, and testimonials—then follow with scripted calls and small payments to build credibility with investors.