Brighton-based kitchen fitter Des Healey lost £75,000 last year in an AI-based crypto scam involving personal finance expert Martin Lewis, whom he looked up to for financial guidance. Healey recently attended an interview with Lewis on BBC Radio 5 Live, where he detailed how he lost his entire savings and was neck-deep in loans after being lured by a highly sophisticated scam advert on Facebook. The scam involved fraudsters using a deepfake of Lewis promoting a non-existent Bitcoin investment scheme, supposedly endorsed by Elon Musk.
Scammers used AI to manipulate Lewis's voice and make the whole thing appear like a TV interview from his home. When Healey walked into the BBC studio, it was naturally difficult for Lewis to face him, knowing how the self-employed person was duped in his name. During the interview, Lewis highlighted that people involved in organised crime have "perverted" his reputation despite spending his entire career trying to help people.
He told Healey it was challenging for him to meet people who fell for the scam, which used his voice and image, knowing they "trusted what I was doing" to put the money in. Although Healey has been able to get the loans partly cancelled after lodging a complaint with the police, he still owes thousands of pounds he borrowed from other lenders to invest in the scam. Meanwhile, Facebook parent Meta has now decided to leverage facial recognition technology to clamp down on fraudsters using renowned people in their adverts.
Healey Was Trying To Make Some Extra Bucks Before Christmas
Healey was surfing Facebook in August 2023 when he came across the fake advert with an AI-generated Lewis promoting it. The investment scheme appeared lucrative enough for Healey to quickly "earn a few extra bob" before Christmas. "I have witnessed you a few times on TV stating that you never put your name to these things," Healey told Lewis. "So why on that particular day it sold it to me, I do not know... I really don't."
When Healey clicked on the advert and shared his contact details, he received a call in minutes from someone who identified himself as Carl, with supposedly two decades of experience as a financial adviser. The impersonator set up an account with the UK's popular e-money institution Revolut and got Healey to invest £1,000. Carl told Healey that "profitable months" were coming, and they would earn much more if they invested his money as soon as possible. When Healey saw his initial investment returned to his new Revolut account, despite having no confirmation if the credit happened, the Brighton resident trusted Carl and transferred £5,000 to the Revolut account, which was his entire net worth.
"To get the £5,000 back, you had to invest £10,000," Healey said. "I wasn't allowed to withdraw anything until the day that he tells me I can." The scammer transferred the money from the Revolut account and lied that he was investing it. The worst part is that Healey, thinking he was earning massive returns on crypto investments, took out four loans from separate providers totalling £70,000 and transferred the whole amount to the scammers.
Son Saves Dad After Overhearing A Call With Carl
Healey would have likely poured more money into the scam, but thankfully, his son heard his dad's conversation with Carl and quickly realised something was wrong, as he could listen to rap songs playing in the background. "What bank or call centre would be playing a rap song?" Healey's son asked before urging him to visit the police. Healey recalled feeling like a "spell was cast" upon him when he realised the whole thing was a scam. While two loan providers cancelled the loans Healey took after complaining to the police, he still owes £20,000 plus £6,000 in interest payments to multiple firms as he prepares to explore his options with the financial ombudsman.
Lewis's Tips To Avoid Rapidly Evolving Scams
Lewis explained that fraudsters are "psychologically adept at manipulating us, use huge online and intellectual resources in order to steal our money... falling for scams does not make you a mug — it makes you a victim." He urged people online to avoid any investment or money-making scheme that involves a sense of urgency. "The more urgent and the less people you can tell — the more secret, the more likely it is to be a scam," he explained.
If individuals get cold-called by somebody claiming to be from their bank or a familiar company seeking personal details, Lewis suggests hanging up politely and calling them back. "I would preferably call back on a different phone, just in case they're keeping the dial number on," Martin emphasised, adding, "If you don't have another phone, you could wait 10 or 15 minutes or call a family member first." Lastly, he cautioned against clicking on links or reverting to scam texts asking you to reply with the word "STOP" because by sending that, victims confirm they are real people, paving the way for more fraud attempts.
