The latest financial con trick targeting British investors is a stark reminder of the growing threat posed by 'deepfake' technology. A convincing video purporting to feature Martin Lewis, the well-known Money Saving Expert, has been circulating online, promoting a fake trading site associated with Elon Musk.
According to reports, the video features Lewis advocating the benefits of an unregulated trading platform that claims to offer unusually high returns – a tactic familiar to those who have fallen victim to similar scams in recent months.
In 2022, concerns were raised about the proliferation of fake 'deepfake' videos featuring celebrities, including Elon Musk, used to promote fake online trading sites. This latest variation sees scammers leveraging advanced technology to create increasingly convincing impersonations of well-known figures, such as Lewis.
Investors are being warned not to fall for the scam's promise of guaranteed returns and high liquidity, with experts highlighting that no legitimate investment opportunity should be pursued solely on the basis of a celebrity endorsement or online promotion.
A spokesperson for Martin Lewis has confirmed that the video is fake and urged people to remain vigilant when considering any new investment opportunities. "If it seems too good to be true," they cautioned, "it probably is."