No, Motsepe Isn't Offering You A Gold Deal: Watchdog Warns Of More Deepfake Scams
South Africa's financial watchdog has warned of a new deepfake investment scam that fraudulently uses the voice and images of one of SA's wealthiest businessmen, Dr Patrice Motsepe.
'In the deepfake videos, Dr Motsepe promotes the investments offered by Gold Earnings and Africa Gold,' said the Financial Sector Conduct Authority FSCA in a notice.
The regulator said that Gold Earnings and Africa Gold were promising members of the public 'unrealistic returns' of 46 on investments ranging from R2 000 to R100 000.
The FSCA further noted that Motsepe's business, African Rainbow Minerals, had confirmed that neither it nor Motsepe had any association whatsoever with Gold Earnings and Africa Gold.
'ARM and Dr Motsepe have condemned the actions of Gold Earnings and Africa Gold and are considering civil and/or criminal action.'