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TechRadar - All the latest technology news

Tue, 25 Sep 2018 00:44:09 +0000

Australian consumer watchdog slams tech giants over fake celebrity ads

Fake celebrity ads aren’t new but they’ve become widespread in 2018. According to reports from the Australian Competition and Consumer Commission's Scamwatch, celebrity endorsement scams have increased by 400%, resulting in financial losses for consumers that have gone up by an eye-watering 3,800%.

During this year alone Scamwatch received 200 complaints, with the total amount of money lost adding up to $142,000, with older women falling victim most often.

The ACCC’s deputy chairperson Delia Rickard said that a consumer typically loses between $100 to $500 to these scams, but one individual “lost more than $50,000 through fake celebrity endorsement of an investment scheme”.

“The growth in these scams is very concerning, particularly as over half the reports we received included a financial loss,” Rickard added.

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