The Australian Securities and Investments Commission (ASIC) has issued an urgent warning to the public as a surge of sophisticated investment scams are using AI deepfake videos of prominent journalist Alan Kohler. These scams are spreading rapidly across social media and search platforms, targeting unsuspecting Australians with fake endorsements for fraudulent trading platforms and cryptocurrency schemes.

How the Alan Kohler Deepfake Scam Works

Cybercriminals use AI-powered deepfake technology to generate highly convincing videos of Alan Kohler. In these fabricated clips, Kohler appears to enthusiastically recommend bogus investment products. These videos are promoted in paid ads on platforms like Facebook, Instagram, and YouTube. If users click through, they're directed to fake news articles or cloned brokerage sites. Scammers then pressure them to deposit money or personal information, which is stolen with no genuine investment taking place.

Key Signs of the Scam

  • Prominent endorsement from Alan Kohler in a video or news article you can't find on official news or his verified channels.
  • Promises of guaranteed or unrealistically high returns.
  • Calls to act quickly or risk missing out on opportunities.
  • No valid ASIC licence or registration for the platform.
  • Contact only through chat or email; no verified office or phone information.

ASIC's Response

ASIC has reported a drastic increase in public complaints and rapid takedowns of scam listings. They urge consumers to independently verify any financial opportunity and be extremely suspicious of endorsements found only in paid social media or online ads.

What to Do If Approached

  1. Do not respond to unsolicited investment offers—even if they appear to feature Alan Kohler.
  2. If you see suspicious ads or sites, take a screenshot and report them to ASIC and the social media platform.
  3. If you've transferred money, contact your bank immediately and file a report with Scamwatch or the relevant cybercrime authority.

Protect Yourself

Always check if a financial product or service provider is registered with ASIC. Visit only official news sources and Alan Kohler's verified accounts for endorsements. If in doubt, consult an authorised financial adviser before investing any money.