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Technology
14 August 2024

New Legislation Targets Deepfakes And Crypto Scams

Senate passes anti-deepfake law as UK leaders become victims of digital fraud.

The world of digital media is often influenced by technological advances, but some advancements leave room for misuse. Among these, deepfakes stand out, as they allow for the creation of convincing yet fake audio and visual content.

Recently, the U.S. Senate passed groundbreaking legislation aimed at confronting the challenges associated with deepfake technology. This law is particularly focused on protecting individuals from non-consensual pornography and digital impersonation.

Under the new act, dubbed the DEFIANCE (Disrupt Explicit Forged Images of Non-Consensual Exploitation) law, victims now have the ability to take legal action against those who utilize their likeness for explicit content without permission. This marks a significant step toward increasing digital safety and accountability.

Meanwhile, hundreds of advertisements on Meta platforms have been co-opting prominent figures like the UK Prime Minister to promote crypto scams. A report from Fenimore Harper revealed startling statistics showing 43% of the ads using the likeness of Prime Minister Keir Starmer were implicated in fraudulent cryptocurrency schemes.

Scammers employed sophisticated technologies to create deepfakes of Starmer and even Prince William, utilizing these deceptive visuals to ensnare unsuspecting users. The promotional content, which claimed investments could yield miraculous returns, manipulated genuine fears and hopes about financial futures.

Specifically, Starmer's deepfake claimed he was launching something called the National Invest Platform, pitching it as a way to make money effortlessly through crypto. Such alluring offers often mask heartbreaking realities for victims who find their investments stuck, unable to be withdrawn.

This troubling trend is exacerbated by the massive reach of these ads, which reportedly targeted hundreds of thousands through clever SEO techniques to garner attention on Google. Understanding how these promotions infiltrate online spaces emphasizes the urgency needed to address both deepfake technology and scams.

To add context, cybercriminals have invested substantial resources, nearly $27,000, to perpetuate these schemes across multiple currencies and countries. This alarming investment highlights the determination of scammers and the proactive approach required to combat their efforts.

“This campaign shows the disinformation on Meta’s platform is getting worse, not better,” said Fenimore Harper, emphasizing the growing threat these types of ads pose. Disturbingly, even after warnings, many of the scam ads were still available online, showcasing the platforms' struggles to manage misinformation effectively.

Simultaneously, the emergence of deepfakes has raised important discussions about consumer protection and digital rights. With such manipulative technologies at play, individuals must be vigilant and informed about who and what they are engaging with online.

Legislation like the DEFIANCE law offers hope, but there's still much work to be done. Awareness needs to be elevated, particularly among vulnerable populations who could fall prey to these high-tech but malicious cons.

It's clear the intersection of technology, legislation, and consumer rights will continue to evolve as the digital world matures. The fight against deepfake exploitation and crypto scams is just beginning, but the steps taken today are foundational for future protections.

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