Deepfake fraud, which leverages AI to create realistic audio, video, or image impersonations, is increasing in the financial sector. Scams like executive impersonation, identity verification bypasses, and investment cons are becoming more believable. There has been dramatic escalation in the attacks, driven by AI tools becoming more affordable and attacks combining voice, video, and email. Bad actors are using publicly available media and hacked email accounts to train models to create these deepfakes. 

Celebrity deepfake investment frauds (e.g., fake endorsements luring retail investors) and advisor deepfakes can be a sophisticated form of phishing. These often appear as fake Facebook or TikTok accounts impersonating the real celebrity or advisor to build false credibility, promote imaginary investment opportunities, or steal personal data. New AI tools enable quick creation of these deepfakes from public profiles or videos.

Just this week two prominent deepfakes appeared in the media. Recently In Great Britain, Channel 4 aired an episode of its investigative series Dispatches titled “Will AI Take My Job?” marking the first British TV program to feature an entirely AI-generated presenter. The hour-long documentary was hosted by “Aisha Gaban”, a lifelike AI avatar created using advanced generative tools. Viewers were kept in the dark about the presenter’s artificial nature until the last moments of the show. The program explored the rapid rise of deepfake technology, its societal impacts, and ethical dilemmas. 

In October, deepfake videos and images emerged on social media falsely depicting Cardinal Raymond Leo Burke, an American conservative cardinal, criticizing Pope Leo XIV’s teachings and governance. These AI-generated fabrications portrayed Burke delivering messages of opposition to the Pope, that he insists he never made. The content was created with a deepfake manipulation of Burke’s image and voice.

On October 21, 2025, Cardinal Burke addressed the deepfakes in a video statement posted across his social media channels, denouncing them as “fabrications — works of deceit produced through technological manipulation of my image to convey messages I have never delivered.”

There have been a number of AI hoaxes targeting Church figures. The Vatican has actively combated such content, reporting hundreds of accounts posting deepfakes of the Pope. One can only imagine what the next major political season may hold in store for all of us.

The financial fraudsters are sophisticated, and we will see more attempts using AI deepfakes. As an individual investor, your best defense is simple skepticism and verification.

1. Verify everything: Only trust communications from your advisor’s official channels (website or verified email/phone). Ignore TikTok DMs, unsolicited videos, or “urgent” calls.
2. Spot the fakes in videos: Look for unnatural blinks, lip-sync glitches, robotic voices, or generic backgrounds in videos claiming to be your advisor or a CEO.
3. Never click links: Skip any investment “opportunities” from social media.
4. Lock down accounts: Enable 2-factor authentication everywhere and confirm wire transfers directly.
5. Report immediately: Flag suspicious content on platforms and notify the FTC/FBI/SEC. When in doubt, call your advisor on their known phone.

Deepfakes prey on trust—stay one step ahead by treating digital faces, voices, and media with caution. Your vigilance will help protect your wealth.

Ralph Broadwater, M.D., CFP®

© 2025 The Arkansas Financial Group, Inc., All rights reserved.

The Arkansas Financial Group, Inc. is a Fee-Only Financial Planning Firm located in Little Rock, AR serving clients in Arkansas and throughout the country.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by The Arkansas Financial Group, Inc. [“AFG]), or any non-investment related content, made reference to directly or indirectly in this commentary will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this commentary serves as the receipt of, or as a substitute for, personalized investment advice from AFG. AFG is neither a law firm, nor a certified public accounting firm, and no portion of the commentary content should be construed as legal or accounting advice. A copy of the AFG’s current written disclosure Brochure discussing our advisory services and fees continues to remain available upon request or at www.arfinancial.com.

Please Remember: If you are a AFG client, please contact AFG, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.