The rise of artificial intelligence has brought dazzling innovation alongside an alarming wave of digital deception. According to new research from forex broker experts at BrokerChooser, deepfake scams surged by an astonishing 500% in 2025 compared to last year, posing serious risks for individuals and financial institutions alike.
A New Era of Digital Fraud
Deepfakes are synthetic media that manipulates video, audio, or images to create convincing but false portrayals. They have become mainstream tools for scammers, fueling identity theft, financial fraud, and disinformation.
Balázs Faluvégi, speaking on behalf of BrokerChooser, emphasizes that the increase in deepfakes is a frightening prospect.
He also indicates that this is likely to grow without further regulations and preventions being put in place.
“This can contribute to greater exposure to counterfeit content, which could lead to people finding it harder to distinguish the fakes from the real thing,” he warned. “Additionally, as AI technologies continue to advance, there is the prospect that deepfakes could become more lifelike, posing further threat to those who come across their content.”
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Celebrities at the Center of Scams
BrokerChooser’s analysis of fraud incident logs reveals that celebrity likenesses are frequently exploited in scams, often to trick victims into believing fraudulent investment opportunities, giveaways, or political messages. The research shows that politicians and musicians are the most commonly targeted groups, making up more than 60 percent of deepfake scams reported in 2025.
Notably, President Donald Trump is the most deepfaked person, involved in more than 12 percent of reported incidents. Fake videos of Trump and even impersonations of his staff have circulated widely since the 2024 election cycle. Actor Will Smith follows, representing more than five percent of deepfake cases, making him the most frequently targeted Hollywood star.
World-renowned actor James Earl Jones and global pop icon Taylor Swift tie for third place, each accounting for just over four percent of incidents. Jones has faced controversy over AI-generated uses of his voice, while Swift has been a frequent victim of ticket scams, giveaway frauds, and other forms of impersonation.
Elon Musk ranks fifth, with nearly four percent of reported incidents linked to his likeness. Fraudulent deepfakes of Musk have been particularly costly, with scams based on his image and voice leading to billions of dollars in collective losses.
Rapidly Growing Threats
The acceleration of deepfake-related fraud has been dramatic. In 2025, there were 300 reported incidents involving deepfakes, compared to just 50 in 2024. Celebrity-related deepfakes accounted for more than a third of all AI scam reports this year, up from less than a third the year prior.
Overall AI-related fraud incidents have risen sharply as well, with 829 cases reported in 2025 compared to 171 the previous year—an increase of nearly 385 percent. The data reflects a steady upward trajectory that began in 2018, with significant spikes in 2020 and again from 2022 onward, as more advanced AI tools became accessible to the public.
Financial Institutions on the Front Line
The financial sector, which depends heavily on trust and identity verification, is particularly vulnerable. Deepfake-enabled scams can mimic client voices, falsify executive orders, or manipulate “proof” in fraud schemes. Faluvégi stresses that financial institutions must be proactive, urging them to adopt detection tools, strengthen identification and verification procedures, and educate customers about the risks.
“Ensuring that customers are aware of the ever-present threat and even seeking to educate them on the risks and warning signs is something that all financial institutions should be looking to do,” he said. “In the future, this may not be just an option, but an imperative action in the fight against deepfakes and scams across the globe.”
Staying Proactive Against Deepfakes
Experts note that even the most convincing deepfakes often contain subtle flaws. Visual distortions are common, particularly around the edges of faces, or in features like teeth, hair, and nails. Inconsistent lighting and strange reflections can also betray AI-generated imagery. Suspiciously flawless stories or videos that seem too good to be true are another common giveaway, especially when linked to investment opportunities or claims of guaranteed profits.
Faluvégi emphasizes that skepticism is key. “If you notice such red flags, the safest approach is not to engage further and instead report the content to the platform where you saw it, or even to your local fraud and cybercrime centre.”
With AI technology improving rapidly, the challenge for regulators, companies, and individuals will be keeping pace with increasingly convincing fakes. Without stronger safeguards, experts warn, deepfakes could erode public trust, distort politics, and drain billions from global economies.
Data for this article was contributed by https://brokerchooser.com/best-brokers/best-forex-brokers
