AI-generated deepfake videos impersonating trusted personalities — Martin Lewis, Lord Alan Sugar, Peter Jones, Deborah Meaden, Sir Richard Branson — are now one of the most effective scam formats operating in the UK. One Surrey retiree, "David", recently lost £20,000 of his life savings after watching what he believed was Martin Lewis promoting an investment scheme on Facebook.
Martin Lewis has issued repeated warnings that he never endorses products, never cold calls, and that any advertisement suggesting he does is fraudulent. Yet the scams keep working — because the technology is now indistinguishable from real footage for most viewers.
How the deepfake investment scam works
- The hook. A Facebook or Instagram video shows a realistic deepfake of Martin Lewis, Alan Sugar or another trusted figure discussing a "can't miss" investment platform — often a crypto or "Quantum AI" scheme.
- The landing page. The video links to what looks like a BBC News, Daily Mirror or MoneySavingExpert.com article — complete with fake tweets and quotes. The URL reveals it is not an official site, but most people never check.
- The initial investment. The victim is asked to deposit a small sum — typically £200 to £250. A fake dashboard shows the balance growing quickly, usually hitting £20,000–£25,000 within weeks.
- The withdrawal trap. When the victim tries to withdraw, they are told they must pay "liquidity", "security" or "faster payment" fees, supposedly refunded the next day. They never are.
- The escalation. By the time the victim realises, they are often several thousand pounds deep in fees and have sometimes taken out loans to "release" their phantom winnings.
Why it works — the AI problem
A few years ago, celebrity endorsement scams used still images with fake quotes. Today's versions use:
- Video deepfakes — AI-generated moving footage matching the person's face, voice and mannerisms, now almost indistinguishable from genuine video for untrained viewers.
- Voice cloning — a few seconds of public audio is enough to produce a convincing synthetic version of someone's voice.
- Automated targeting — scammers use AI to personalise messaging at scale, generating thousands of variants that evade platform detection.
- Social proof fabrication — fake comments, fake news articles, fake tweets, all assembled in minutes.
Surrey's Police and Crime Commissioner Lisa Townsend has run a "Question EVERYTHING" campaign to highlight the threat, including a deepfake of herself to show how realistic the technology has become.
Five warning signs of a celebrity deepfake scam
| Red flag | What it looks like |
|---|---|
| Unsolicited celebrity endorsement | Video on social media of a trusted figure promoting a specific investment |
| Urgency | "Act now", "limited availability", "closing today" |
| Guaranteed or outsized returns | Claims of 10x, 20x or "no-risk" returns |
| Up-front payments to "release" funds | Liquidity fees, security fees, tax pre-payments |
| Off-platform pressure | Being moved from Facebook to WhatsApp, Telegram or direct calls |
What to do if you spot a deepfake scam
- Do not engage. Do not click links, do not call the number, do not reply to messages.
- Report it. Use the platform's "Report Ad" function, report to Action Fraud on 0300 123 2040 (or 101 in Scotland), and report the specific ad to the Advertising Standards Authority.
- Report to the FCA. Use the FCA's ScamSmart warning list to check any investment firm before handing over money.
- Warn others. Share with older family members who are most frequently targeted.
What to do if you have already lost money
- Contact your bank immediately. Under the Contingent Reimbursement Model and the new mandatory reimbursement rules for authorised push payment (APP) fraud, you may be entitled to a refund — especially if the bank did not flag known risks during the transaction.
- Report to Action Fraud. You need a crime reference number for subsequent steps.
- Keep all evidence — screenshots of the ad, messages, bank transfer confirmations, URLs.
- If your bank refuses a refund, ask for written reasons and escalate to the Financial Ombudsman Service (free to the consumer).
- Do not trust recovery services that contact you. Fraudsters often target victims twice — the second time posing as recovery specialists who guarantee they can get your money back for an up-front fee. They cannot.
Disclaimer
This article is for general information only and does not constitute legal or financial advice. If you have been the victim of a scam, contact your bank and Action Fraud immediately, and consider seeking free advice from Citizens Advice or a qualified solicitor.
FAQ
Is Martin Lewis actually on any investment platform?
No. Martin Lewis and MoneySavingExpert repeatedly confirm they never endorse products, investment platforms or specific firms.
How can I verify a celebrity endorsement is genuine?
Go directly to the person's or organisation's verified website or official social channels. If the endorsement is not there, it is not real.
Which regulator should I check investment firms with?
The FCA maintains a Financial Services Register and a ScamSmart warning list at fca.org.uk. Any UK firm accepting investment money should be on the Register; if they are not, walk away.
