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Martin Lewis Issues Urgent 'You'll Lose Your Money' Warning - Liverpool Echo
Scammers use Martin Lewis's likeness in deepfake ads to deceive people into fraudulent investments, causing victims to lose thousands and face fake tax demands, warns financial expert.
Over the past month, Money Saving Expert founder Martin Lewis issued an urgent scam warning after fake adverts and deepfakes used his image, urging people to report suspicious posts on social media platforms.
Scammers use deepfake AI clips on social networks mimicking Martin Lewis to promote fake investment products, which Lewis said can lead to some losing £10,000s.
In her account, Casey described how callers persuaded her late husband Tim to invest, demanding tax and commission, and said, 'He would phone for perhaps three times a week and he would talk for two hours and it was just brainwashing'.
Lewis has long campaigned to pressure social networks to remove misleading financial posts, and the MoneySavingExpert website offers guidance to help people recognize and respond to scams.
HMRC warned to be on 'high alert' as reports of AI-generated scams have risen over the past month, and Martin Lewis had cautioned earlier this year about this growing threat.