Celebrity conundrum: These fake endorsements can rob you of your money!
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In the digital age, scams have become increasingly sophisticated.
Even celebrities admit that they are not immune to the cunning tactics of online fraudsters.
Recently, Australian celebrities Sophie Monk and Robert Irwin found themselves unwittingly at the centre of a new online scam duping the public.
The scam, which surfaced online earlier this week, used fake news outlet photos with sensational headlines.
'A big scandal. Sophie Monk: I had to tell people the truth, even if it means risking my career', one of the fake news articles read.
These headlines are designed to pique curiosity and prompt clicks from innocent readers.
In the case of Sophie Monk, the fake articles claimed that the British-Australian singer talked about a lucrative investment strategy during an appearance on the Today Show with Karl Stefanovic.
The fabricated story claimed that the 'Central Bank of Australia' had intervened to prevent the segment from airing, fearing a massive loss in customers once the public learned of 'Ms Monk's' financial advice.
The articles included doctored images of Sophie Monk explaining the investment system to Mr Stefanovic.
Readers were then encouraged to go to an investment platform called Intermediate FastX and were urged to deposit their money.
Similarly, another scam involved false articles about Robert Irwin.
These fabricated articles claimed that banks sued the young conservationist for revealing his investment secrets.
These articles also used images of Mr Irwin to lure unsuspecting readers into the scam.
These fraudulent articles were disseminated on social media platforms through programmed bot accounts.
While they look genuine at first glance, inconsistencies in the posts, such as mismatched names and profile pictures, became evident.
However, many social media users quickly recognised the scam and did not fall prey to it.
The Australian Competition and Consumer Commission (ACCC) previously reported that Australians lost approximately $35 million to investment scams within three months last year.
Victims often found themselves with limited recourse, as scammers are typically based overseas and use cryptocurrency to conceal any activity.
Recently, experts observed an increase in the number of automated 'bot' accounts on social media platforms.
The ACCC also noted an increase in the use of celebrities and public figures in fake news and 'deepfake' videos to promote fraudulent investment schemes.
One of these prevalent scams used the likeness of significant business figures, including business journalist David 'Kochie' Koch.
The Labor government also responded to the growing threat of online scams by introducing legislation aimed at penalising platforms, banks, and telecommunications companies that fail to eliminate fake platforms from their services.
This legislation, which is currently under review, could result in fines of up to $50 million for entities that do not comply.
Here's how you can protect yourself from these online scams:
If you have encountered similar scams, we encourage you to comment below and share your experiences and scam-proof tips with us.
Even celebrities admit that they are not immune to the cunning tactics of online fraudsters.
Recently, Australian celebrities Sophie Monk and Robert Irwin found themselves unwittingly at the centre of a new online scam duping the public.
The scam, which surfaced online earlier this week, used fake news outlet photos with sensational headlines.
'A big scandal. Sophie Monk: I had to tell people the truth, even if it means risking my career', one of the fake news articles read.
These headlines are designed to pique curiosity and prompt clicks from innocent readers.
Fake articles about Sophie Monk's investments have spread online, primarily on social media platform X. Image Credit: X
In the case of Sophie Monk, the fake articles claimed that the British-Australian singer talked about a lucrative investment strategy during an appearance on the Today Show with Karl Stefanovic.
The fabricated story claimed that the 'Central Bank of Australia' had intervened to prevent the segment from airing, fearing a massive loss in customers once the public learned of 'Ms Monk's' financial advice.
The articles included doctored images of Sophie Monk explaining the investment system to Mr Stefanovic.
Readers were then encouraged to go to an investment platform called Intermediate FastX and were urged to deposit their money.
Similarly, another scam involved false articles about Robert Irwin.
These fabricated articles claimed that banks sued the young conservationist for revealing his investment secrets.
These articles also used images of Mr Irwin to lure unsuspecting readers into the scam.
These fraudulent articles were disseminated on social media platforms through programmed bot accounts.
While they look genuine at first glance, inconsistencies in the posts, such as mismatched names and profile pictures, became evident.
However, many social media users quickly recognised the scam and did not fall prey to it.
The Australian Competition and Consumer Commission (ACCC) previously reported that Australians lost approximately $35 million to investment scams within three months last year.
Victims often found themselves with limited recourse, as scammers are typically based overseas and use cryptocurrency to conceal any activity.
Recently, experts observed an increase in the number of automated 'bot' accounts on social media platforms.
The ACCC also noted an increase in the use of celebrities and public figures in fake news and 'deepfake' videos to promote fraudulent investment schemes.
One of these prevalent scams used the likeness of significant business figures, including business journalist David 'Kochie' Koch.
The Labor government also responded to the growing threat of online scams by introducing legislation aimed at penalising platforms, banks, and telecommunications companies that fail to eliminate fake platforms from their services.
This legislation, which is currently under review, could result in fines of up to $50 million for entities that do not comply.
Here's how you can protect yourself from these online scams:
- Be sceptical of sensational headlines and offers that seem too good to be true.
- Verify the authenticity of news articles by checking the website's link.
- Do not click on links or provide personal information to unverified websites.
- Keep an eye out for inconsistencies in social media profiles that may indicate automated bot account activity.
- Report any suspicious activity to the ACCC's ScamWatch.
