What are the red flags of this scam?

A social media ad shows a video of a recognisable Australian politician, journalist, or businessperson — PM Albanese, Alan Kohler, Gina Rinehart — recommending an investment • The ad leads to an article about the platform on what looks like ABC News, 7News, or Nine — check the URL, it will not be abc.net.au, 7news.com.au, or nine.com.au • The investment platform offers unusually high guaranteed returns and shows profits immediately after you deposit • When you try to withdraw, you are asked to pay a 'tax clearance fee', 'insurance bond', or 'KYC verification' before the funds can be released • The platform brand name is not searchable on ASIC's MoneySmart register

What should I do if this happened to me?

Check the URL of any 'news article' before reading it — real ABC News is only abc.net.au, not any variation or lookalike domain • Verify any investment platform on ASIC's MoneySmart website at moneysmart.gov.au before depositing — check it is licenced • Real Australian public figures do not endorse investment products via Facebook pop-up video ads • If you are asked to pay a fee before withdrawing your balance, stop — that is the core mechanic of this scam • Report fake investment ads to ASIC at report.asic.gov.au and to Meta or Google via their ad reporting tools • Report to Scamwatch at https://www.scamwatch.gov.au/report-a-scam or ReportCyber at https://www.cyber.gov.au/report.

CRITICAL investment Last reported: 3 Oct 2026 Share

A Facebook ad with an AI deepfake of a politician or ABC journalist promotes a fake investment platform

Q: Is this a scam?

Yes. This is a documented scam pattern. Facebook or Instagram ads show a deepfake of the PM, Alan Kohler, or Gina Rinehart endorsing an investment platform. The ad links to a cloned ABC News or news site. The platform is fake — deposits vanish, profits on the dashboard are fabricated, and every withdrawal attempt triggers a new fee. Victims have lost $7.4 million to this category.

Facebook or Instagram ads show a deepfake of the PM, Alan Kohler, or Gina Rinehart endorsing an investment platform. The ad links to a cloned ABC News or news site. The platform is fake — deposits vanish, profits on the dashboard are fabricated, and every withdrawal attempt triggers a new fee. Victims have lost $7.4 million to this category.

Also known as: deepfake investment scam Australia, fake ABC News investment ad, AI celebrity endorsement scam, fake Albanese crypto ad, fake Alan Kohler investment

Already happened to you? Do this in the next few minutes

1 Call your bank or card's fraud line right now. Use the number on the back of your card — not any number from the message or caller. Ask them to stop or reverse the payment and freeze the account.
2 If you paid by gift card, wire, or an app (Zelle, Venmo, Cash App): contact that company immediately and report it as fraud. Acting fast sometimes recovers the money.
3 Report to the FBI at ic3.gov and the FTC at reportfraud.ftc.gov. The sooner, the better.

What to do right now

1 Check the URL of any 'news article' before reading it — real ABC News is only abc.net.au, not any variation or lookalike domain
2 Verify any investment platform on ASIC's MoneySmart website at moneysmart.gov.au before depositing — check it is licenced
3 Real Australian public figures do not endorse investment products via Facebook pop-up video ads
4 If you are asked to pay a fee before withdrawing your balance, stop — that is the core mechanic of this scam
5 Report fake investment ads to ASIC at report.asic.gov.au and to Meta or Google via their ad reporting tools
6 Report to Scamwatch at https://www.scamwatch.gov.au/report-a-scam or ReportCyber at https://www.cyber.gov.au/report.

Red flags

⚠ A social media ad shows a video of a recognisable Australian politician, journalist, or businessperson — PM Albanese, Alan Kohler, Gina Rinehart — recommending an investment
⚠ The ad leads to an article about the platform on what looks like ABC News, 7News, or Nine — check the URL, it will not be abc.net.au, 7news.com.au, or nine.com.au
⚠ The investment platform offers unusually high guaranteed returns and shows profits immediately after you deposit
⚠ When you try to withdraw, you are asked to pay a 'tax clearance fee', 'insurance bond', or 'KYC verification' before the funds can be released
⚠ The platform brand name is not searchable on ASIC's MoneySmart register

Known variants

Bank-brand crypto platform: QUFC Exchange ads use Macquarie Group branding, AI-generated video of senior Macquarie executives, and fake partnership documents. Platform looks professional; deposits taken, withdrawals blocked. Macquarie confirmed (September 2026) no affiliation with QUFC Exchange and would never solicit crypto investment via social media.

Last seen: 10/3/2026

Already happened to you? Do this in the next few minutes

What to do right now

Red flags

Known variants

Sources