2GB host Ben Fordham has warned Australians about alarming new AI video scams.
Scams often involve fake videos created with artificial intelligence.
These videos can be manipulated to make it look like a person said or did something they never did.
Financial expert Peter Switzer is the latest high-profile Australian used by scammers in an artificial intelligence video.
His face is used to trick people into investing in fake get-rich-quick schemes.
2GB presenter Ben Fordham warned Australians about alarming new AI video scams
Switzer was left speechless after 2GB host Ben Fordham showed him a video of the AI scam currently circulating on social media.
“Join our stock club and you will receive free stock diagnostic services where the world’s leading stock experts will provide you with…” he appears to say in the clip.
‘Who is that man talking?’ Fordham asked.
“Wow, it looks like me in my youth,” Mr. Switzer responded.
‘It’s you, it’s a video that’s circulating right now. It’s an AI scam. “You’re promoting a stock club and they post stock information every day before 7 p.m.,” Fordham said.
‘Oh Lord. How do we make sure people know it’s not me? Mr. Switzer asked.
Fordham said the telltale sign that the video was fake came when Switzer’s accent switched from Australian to American halfway through the full version of the video.
“So there’s a little clue there,” Fordham said.
“But people will recognize your face, they have it, your mouth moves, we saw it this morning.”
“Join our stock club and you’ll receive free stock diagnostic services where the world’s leading stock experts will provide you…” Peter Switzer appears to say in the clip (pictured).
Switzer (pictured) was left speechless after Ben Fordham played audio from a scam video currently circulating on social media.
It comes just months after former Sunrise presenter David Koch threatened legal action as scammers continue to use digitally altered images of him to scam Australians.
The weary business journalist and former Sunrise host took to Twitter in October to criticize an AI-generated photo of himself that appeared bloody and bruised.
Koch tagged the Australian Competition and Consumer Commission (ACCC) and the Australian Securities and Investments Commission (ASIC) in a desperate bid to shut down the latest scam.
The digitally altered image shows Koch with two black eyes and a shocked expression with the caption: “This is the dark truth behind the incident.”
He told 2GB’s Ben Fordham that he is exploring legal options against social media platforms that run false ads.
“I’m so frustrated with this that I’m considering defamation against the social media platforms that run these ads because it’s hurting me,” he fumed.
‘People are being fooled into thinking: “I did this because you told me to.” “It’s all a massive scam using high-profile people and really ruining our reputation in the process.”
David Koch calls on ACCC to take action following fake news article (pictured)
Gary Meachen, 71, from Broke in Hunter Valley, New South Wales, lost $411,000 after being scammed by a Facebook video promising viewers they would get rich quick.
The clip contained doctored footage of billionaire Elon Musk allegedly discussing a cryptocurrency scheme with a group of high-profile people.
They included Prime Minister Anthony Albanese, Sunrise presenter Natalie Barr, Today presenter Karl Stefanovic and commentator Piers Morgan.
Images of the well-known political and entertainment identities were then manipulated to make it appear they were discussing the plan.
Mr. Meachen, a longtime admirer of Mr. Musk, was told he was one of the “chosen 45 who will have the opportunity to make life-changing money.”
A 71-year-old New South Wales man has revealed how he lost $411,000 in a Facebook scam involving Elon Musk and Anthony Albanese (pictured) in a get-rich-quick scheme.
Gary Meachen lost his entire life savings after being scammed by a video showing billionaire Elon Musk discussing a cryptocurrency scheme with a group of high-profile people.
He gave his card details to a scammer to make purchases and every time he tried to withdraw money he was persuaded to invest more.
In the end, Mr Meachen was left with nothing and now depends on his pension.
Australians lost $2.7 billion to scams in 2023, with more than 623,000 scam reports made that year alone, according to the ACCC.
Investment scams stole more than any other scam, accounting for $1.3 billion.
Experts believe scammers are targeting older Australians because they are less tech-savvy and more likely to have savings and retirement.
Losses for people over 65 increased 13.3 percent in 2023 to $120 million, with this age group disproportionately affected by investment plans.