When I came across a video on Instagram which appeared to feature Steven Bartlett, I stopped to watch – taken in by the wording “new investment opportunities have arrived”.
My eyes popped open when I realised the video was inviting users to an exclusive WhatsApp group. The figure in the clip, which looked just like Bartlett but was in fact fake, claimed he was dropping his latest stock tips, which would climb 35% in seven days.
For a couple of seconds, I thought, why would Steven Bartlett do this? Why is he giving out stock picks and promising huge returns? It’s not unheard of for well-known names to encourage people to buy certain stocks, and Bartlett is famous for his popular podcast Diary of a CEO and his role on BBC’s Dragon’s Den as an investor.
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However, I then realised it was a scam using a fake AI-generated video in which “Bartlett” is looking very relaxed, telling people to join his WhatApp trading group to take advantage of stock market opportunities in the wake of Trump’s tariffs.
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Scammers are wasting no time, taking advantage of fear or greed. In this case, they want to play on the fact that people will be looking for opportunities to buy in a falling market.
To be clear, the video is not Bartlett – it’s an AI-generated clip which has nothing to do with him.
“This is a scam. We are working with the platforms to have the content removed and accounts blocked,” his team told me.
Would you fall for an investment scam?
While the scam post is scaringly convincing, users have picked up the possibility of it being a fake video. But, sadly, some people may well follow the link. Scammers will then ask them questions and try to glean their contact details.
Of the thousands of people that do not fall for it, one person will – and that is enough for the scammers. Once the victim has shared their contact details, they could find themselves targeted again and again as fraudsters will hope that one day they will fall for the scam and pay them money.
Investment scams are on the rise; scammers stole more than £56 million of savers’ cash in the first six months of 2024. Some of the common tactics used were social media campaigns and fake celebrity endorsements.
In this last week, I have seen several videos circulating on Instagram - each using a popular face to promote stock tips and mega returns.
While Meta has said it is cracking down on fake accounts and celebrity scams videos, the technology is clearly not catching it all.
How to spot fake AI videos
As scammers and the technology they use gets more advanced, it is getting harder to detect fake videos. But there are few things I believe give it away.
As well as the usual signs of typos and exaggerated content that makes it sound urgent, take a close look at the video for these signs:
- Facial and lip syncing – there will be misalignments with lip and chin movement and the words.
- Blinking – is the person in the video blinking normally?
- The background – does it look natural?
- The source – who is posting the video?
- What are they saying? Is the message out of character?
I have decided not to share the videos I came across as I do not want to circulate them, but if you see any suspicious clips, make sure you report them.
If you are unsure, take a step back and do some research. Investment scams can leave you out of pocket by thousands and can wipe away your life savings. Remember, investing is not a get rich quick scheme, and anyone promising that is very likely to be a scammer. Stay safe!
