The Bank of England has warned the public against AI-generated scams after deepfake videos depicting Nigel Farage and Governor Andrew Bailey fighting on the set of BBC One's Question Time circulated on social media platform X.
Andrew Bailey urged people to be vigilant and report the videos, which show the men being separated by police and Farage holding a gun. He stated that fake adverts impersonating the Bank of England and other central banks are on the rise, designed to exploit the public.
Farage commented on the AI posts, saying he would never attack Bailey despite their disagreements on the economy. The Bank has raised concerns with Reform UK and social media platforms.
Scams using AI to impersonate public figures have increased, with Martin Lewis warning of a 'wild west' of online scams. The UK's Online Safety Act includes provisions to tackle fraudulent advertising, but these do not take effect until next year.
