The rise of deepfakes is posing a significant risk to trust and security, as deceptive advertisements flood social media platforms, eroding public confidence. Most recently, Australian mining magnate and businessman Andrew “Twiggy” Forrest found himself at the center of a doctored video on Facebook, promoting a fake crypto trading platform. This incident is just one example of a series of deepfakes circulating, causing widespread concern. As the prevalence of these manipulated videos increases, it is essential to examine their impacts and the urgent need for action to combat this emerging threat.
The doctored clip featuring Andrew Forrest endorsing an alleged cryptocurrency trading platform has raised alarm bells in the cybersecurity community. The video, flagged by Cybertrace, led unsuspecting viewers to a fraudulent website called “Quantum AI,” known for its association with scams and financial deceit. The manipulated footage altered Forrest’s actions and mannerisms, misleading users into believing the authenticity of the promotion.
Despite social media giant Facebook’s proactive step of implementing a ban on deepfakes in early 2020, these fabricated videos continue to plague users. The doctored video featuring Andrew Forrest is a testament to the platform’s struggle in effectively policing such content. Even with the parent company, Meta, in control of both Facebook and Instagram, deepfakes persist, undermining trust within the platforms.
Andrew Forrest, outraged by the proliferation of scams exploiting his image, has taken legal action against Facebook. The billionaire aims to hold the social media company accountable for its negligence in adequately preventing such fraudulent activities. Forrest’s frustration is evident in his statement, “Facebook does nothing – that’s what I hope the legal actions I started will address, to make social media companies liable for the negligent way they run their ad platforms.”
MicroStrategy founder Michael Saylor joins a growing number of individuals battling counterfeit videos. Saylor’s team tirelessly works to remove around 80 counterfeit videos daily, many of which endorse various Bitcoin scams. These counterfeit videos featuring influential figures like Elon Musk contribute to the erosion of trust and further fuel the deepfake epidemic.
Deepfake videos are not limited to a single region but constitute a global security concern. Data from Sumsub highlights the surge in deepfake creation, particularly in North America. The United States and Canada both experienced significant increases in the proportion of deepfakes, reaching alarming percentages. Failing to address this threat promptly puts both businesses and users at risk, emphasizing the urgent need for enhanced deepfake detection technologies.
The growing threat of deepfakes demands a united front in combating this emerging danger. Social media platforms must intensify their efforts to identify and remove deepfake content promptly. Additionally, anti-fraud and verification providers play a crucial role in developing and updating deepfake detection technologies. Only by staying ahead of the perpetrators can we protect trust, secure online spaces, and mitigate the potential damage caused by these manipulated videos.
Deepfakes represent a rising tide of deception and fraudulent activities, challenging the trust and security of individuals online. The case of Andrew Forrest and the persistent circulation of deepfakes across social media platforms exemplify the urgent need for action. It is a collective responsibility to combat deepfakes, with social media companies, legal systems, and technology providers all playing essential roles. By addressing this critical issue head-on, we can protect users, preserve trust, and maintain the integrity of our digital landscape.