Deepfake Elon Musk Videos Have Reportedly Contributed to Billions in Fraud

August 14, 2024

Scammers employ deepfake videos, leveraging AI and voice cloning technology, to promote fraudulent investment opportunities. These deceptive practices, often targeting the elderly, have reportedly resulted in billions lost by investors.

While social media and YouTube have seen efforts to remove these videos, their proliferation persists, highlighting the need for stronger AI governance and harm prevention measures.

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Alleged deployer: unknown-deepfake-creators, unknown-scammers
Alleged developer: unknown-deepfake-technology-developers
Alleged harmed parties: elderly-investors, cryptocurrency-users, online-investors, social-media-users, retirees-seeking-investment-opportunities, steve-beauchamp, elon-musk

Source

Data from the AI Incident Database (AIID). Cite this incident: https://incidentdatabase.ai/cite/795

Data source

Incident data is from the AI Incident Database (AIID).

When citing the database as a whole, please use:

McGregor, S. (2021) Preventing Repeated Real World AI Failures by Cataloging Incidents: The AI Incident Database. In Proceedings of the Thirty-Third Annual Conference on Innovative Applications of Artificial Intelligence (IAAI-21). Virtual Conference.

Pre-print on arXiv · Database snapshots & citation guide

We use weekly snapshots of the AIID for stable reference. For the official suggested citation of a specific incident, use the “Cite this incident” link on each incident page.