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Commonwealth Bank has issued a critical alert warning investors of sophisticated 'pump and dump' schemes using AI deepfakes and fake social media ads to target Australians.
New Zealand's FMA and Westpac NZ have issued a major alert following a spike in AI-driven deepfake scams. With 64% of bank fraud now originating on social media, authorities are calling for greater platform accountability.
Investment scam losses in New Zealand more than doubled to $81,500 in April 2026, with the average loss per victim surging to over $20,000 as deepfake technology becomes more prevalent.