• The increasing prevalence of AI-powered frauds is highlighted by this instance.
  • Singapore has warned the people to exercise caution and only trust official sources.

Prime Minister Lee Hsien Loong of Singapore has issued a public warning against a new kind of cyber fraud that employs deepfake technology. Recent Facebook posts of his have drawn attention to the proliferation of videos purporting to show him encouraging crypto frauds, which he claims are the product of AI.

These deceitful actions demonstrate how online scams are becoming more complex and how modern technology is being used to trick people.

Misuse of Technological Advancements

Scammers now have a powerful weapon in deepfake technology, which allows them to manipulate real video to make material that is very convincing yet completely fake. Recently, a deepfake video surfaced claiming that entrepreneur Elon Musk has an idea for a cryptocurrency investment platform—a platform that does not exist—and that Prime Minister Lee Hsien Loong endorses it.

This video shows how deepfake technology can modify an interview on CGTN to an unsettling degree of realism. The increasing prevalence of AI-powered frauds is highlighted by this instance. These videos, Prime Minister Lee said, are harmful and misleading because they might trick people into investing in scams.

Moreover, the government of Singapore has warned the people to exercise caution and only trust official sources for information. It is not new for prominent personalities to be used in financial schemes. Such schemes have repeatedly targeted the prime minister, with earlier incidents dating back to 2018.

There was a time when the government had to warn the public against crypto investment schemes that made misleading claims regarding the Prime Minister’s support. Public warnings were reissued in July as yet another phoney video starring Lee Hsien Loong emerged.

Highlighted Crypto News Today:

Solana Rebounds Above $105 Level After Severe Selling Pressure