UK watchdog warns of AI-fuelled fake investment scams as scammers exploit celebrity deepfakes online
What happened
UK regulators and government bodies have warned that deepfakes are increasingly being used in scams, including fake investment promotions that impersonate celebrities, trusted public figures and even family members. The Financial Conduct Authority (FCA) says online trading scams are often promoted through social media and can use fake celebrity endorsements and luxury imagery to draw people in. The government has also said criminals are already using deepfakes to impersonate celebrities, family members and trusted political figures in sophisticated scams. (fca.org.uk)
In February 2026, the Government Office for Science said deepfakes are a rapidly evolving threat and noted a sharp rise in the volume of deepfakes shared online. It said around 8 million deepfakes were shared in 2025, compared with around 500,000 in 2023. That figure is a government estimate, but it shows why officials are treating the issue as more than a niche problem. (gov.uk)
Why this matters
These scams matter because they can look convincing, especially when a video appears to show a well-known face recommending an “opportunity” or claiming an investment is risk-free. The FCA says some scam firms create professional-looking websites and may even show small early returns to build trust before asking victims to invest more money. (fca.org.uk)
The harm is not only financial. Fraud can be stressful, embarrassing and time-consuming to untangle. It can also damage trust in what people see and hear online, which the government says is becoming harder to judge as deepfakes spread. (gov.uk)
Who may be affected
Anyone can be targeted, but people browsing social media, searching for investment ideas online, or following influencer-style finance content may be at greater risk. The FCA says scammers often advertise through online channels and search engines, while government warnings indicate that criminals are using deepfakes to scale up impersonation scams quickly. (fca.org.uk)
People who are new to investing may be especially vulnerable if they are unfamiliar with common warning signs or believe a familiar face means a scheme is legitimate. That is an inference based on how these scams work, not a specific figure from the sources. (fca.org.uk)
Common warning signs
- Celebrity or public-figure endorsements that feel odd, urgent or out of character. (fca.org.uk)
- Promised high or guaranteed returns, especially with little risk. (fca.org.uk)
- Pressure to act quickly or keep the matter secret. (gov.uk)
- Professional-looking websites that still fail basic checks, such as firm authorisation. (fca.org.uk)
- Requests to transfer money to an unfamiliar account, use vouchers, or continue the conversation off-platform. (gov.uk)
- Early “profits” followed by pressure to add more money. (fca.org.uk)
What readers should do now
- Check the firm first. Use the FCA Firm Checker and Warning List before sending any money. If a firm is not authorised for the service it is offering, walk away. (fca.org.uk)
- Pause before acting. If a message or video is pushing urgency, secrecy or immediate payment, treat that as a warning sign. (gov.uk)
- Do not trust a familiar face alone. Celebrity-style videos can be faked, so verify through official sources rather than the clip itself. This is consistent with the FCA and government warnings about fake endorsements and impersonation scams. (fca.org.uk)
- Report suspicions quickly. In the UK, report fraud or attempted fraud to Action Fraud, either online or by phone at 0300 123 2040. (gov.uk)
- Warn others. GOV.UK specifically encourages people to tell friends and family about scams they encounter. (gov.uk)
How to stay safer next time
- Stick to firms authorised by the FCA for the service you want. (fca.org.uk)
- Be wary of investment ads on social media, especially if they use celebrity faces or luxury imagery. (fca.org.uk)
- Double-check any website address carefully; official UK government sites end in
.gov.uk. (gov.uk) - Never share financial details with someone who pressures you to act immediately. (gov.uk)
- If something looks too polished but too good to be true, treat it as suspicious and verify independently. This is a practical takeaway from the FCA’s description of scam tactics. (fca.org.uk)
What the authorities are doing
The UK government says it is building a world-first deepfake detection evaluation framework with technology companies, academics and law enforcement to improve how harmful deepfakes are identified. It has also said it is investing £250 million over three years in a new fraud strategy and expanding disruption efforts against fraud networks. (gov.uk)
These measures may help over time, but officials also make clear that the technology is still evolving. The government’s own deepfake detection publication says the market remains nascent, so public awareness remains an important defence. (gov.uk)
Key takeaway
Deepfake-enabled investment scams are becoming more convincing, but the core defence is still the same: slow down, verify the firm, distrust urgency, and report anything suspicious. A celebrity face is not proof that an investment is real. (fca.org.uk)