Singapore PM Cautions Against Viral Deepfake Crypto Scams

Singapore Prime Minister Lee Hsien Loong has issued a stern warning in response to the circulation of deepfake videos on social media, featuring him endorsing cryptocurrency investment scams.

PM's Deepfake Alert

Addressing the rising threat of deepfake scams, PM Loong emphasized the dangers posed by AI-generated videos manipulated through face swapping. These videos aim to spread misinformation by portraying individuals, in this case, the Prime Minister, making false statements or participating in fictitious events. The Prime Minister's caution follows a recent alert from Cardano's Charles Hoskinson, who highlighted the increasing persuasiveness of deepfake scams.

PM's Counteraction

Reacting to the emergence of deepfake crypto scam videos supposedly featuring him, PM Loong took to his official Facebook page on December 29. In a post, he shared an altered video where he appeared to be interviewed by a Chinese news network presenter. The discussion revolved around "a revolutionary platform designed by Elon Musk" approved by the Singapore government for offering crypto investment services. The Prime Minister clarified the video's falsity, revealing that his deputy, Lawrence Wong, had also been targeted in a similar manner.

Scammers' Tactics

Explaining the intricacies of the scam, the PM revealed that scammers employed AI technology to replicate voices and images, transforming authentic footage from official events into highly convincing yet entirely fabricated videos. Urging the public to disregard such videos, he called for reporting any encounters with fake news or investment promises through the government's ScamShield Bot on WhatsApp.

Growing Threat and Public Vigilance

PM Loong underscored that the use of deepfake videos is expected to escalate, emphasizing the necessity for public vigilance. Recent reports indicate a staggering 500% increase in deepfake videos within the country in 2023 compared to the previous year.

As deepfake threats persist, the Prime Minister encourages citizens to remain vigilant and report suspicious content, reflecting the broader challenge of combating the rising tide of deceptive AI-generated videos in the digital landscape.