Deepfake Scam in Macau Promotes 'Surefire' Cryptocurrency Investment Project

Recently, a scam involving artificial intelligence (AI) deepfake technology was reported in Macau. The image of a local elderly man was stolen and used in an AI-generated video to promote an investment opportunity that claims to provide guaranteed profits.

Local police released details of the case on Friday (April 25) and confirmed that the image and voice in the video were generated by AI technology.

The victim found the video made with his image on Facebook, with the words touting a “surefire” cryptocurrency investment project. The link attached led potential victims to a fraudulent website posing as a local newspaper.

No victims had reported losses before the police received report on Friday. However, police reminded the public to distinguish truth from falsehood in the online world and not to blindly trust photos and videos online.

In addition, public figures such as former Chief Executive Ho Iat Seng were also victims of deepfake scams, as their images were found in fraudulent investment advertisements.

Macau's Secretary for Security, Wong Sio Chak, pointed out that the local police have the capacity to deal with crimes related to AI technology, as they already possess technical expertise and law enforcement tools to identify fake products using AI technology.

He argued that the local government as a whole must align its top-level design with broader governance strategies, constantly analyze and assess the situation, stay in line with international trends, and ensure effective analysis and legislative initiatives.