Crypto investment scammers exploit fake images of Penny Wong in social media ads

The Guardian

18-02-2025

The Australian foreign affairs minister, Penny Wong, has been the subject of a spate of crypto investment scams on social media platforms including X, ahead of new legislation taking effect that could see platforms fined $50m for failing to act on such advertising.
Wong's image has been featured in scam ads on platforms such as X in the past month, linking to an article that pretends to be a News.com.au story and falsely claiming she had been jailed for speaking about a crypto investment during a TV interview.
'She didn't know the microphone was on – now her career is over!' the scam ad states.
Sign up for Guardian Australia's breaking news email
The theme of the ad is similar to others that have featured the likes of Guy Sebastian, Sophie Monk and other public figures in the past few years, including a poorly edited picture of the subject bruised and in an orange jumpsuit and handcuffs.
Guardian Australia understands the government has been reporting ads featuring its ministers as they are spotted.
A spokesperson for the foreign affairs minister pointed to the government's scams prevention framework as part of the government's efforts to keep Australians safe online.
'Last week, the government legislated the scams prevention framework, which will make Australia the toughest target in the world for scammers,' the spokesperson said.
X has been approached for comment.
A spokesperson for the National Anti-Scams Centre would not comment on the specific ad but said the agency has a website-takedown service targeting such scams.
'The National Anti-Scam Centre is working with digital platforms to develop additional processes for scams disruption,' the spokesperson said.
'While there has been progress in establishing pathways to refer scams to major social media platforms for disruption, the National Anti-Scam Centre and key partners expect social media platforms to take greater responsibility for proactive monitoring, removal of scams and targeted in-platform warnings to users.'
In 2024, there were nearly 1,900 reports of investment-related scams from social media in Australia, with losses reported at $45.5m.
Google and Meta have implemented changes to their platforms to require organisations and individuals promoting financial products to verify themselves but it is unclear whether a similar process is required for X.
Elon Musk is now heading up the Department of Government Efficiency (Doge) in the new Trump administration. Despite a public fight over online safety with Musk last year that generated global headlines, the Australian government has said little about him since Donald Trump returned to the White House in January.
Legislation establishing a new anti-scams framework passed the parliament last week that will require businesses, such as X, to take reasonable steps to prevent, detect and disrupt scams or face $50m in fines. The government last week said social media companies, telecommunications companies and banks would initially be designated under the framework.
Social media companies will be expected to verify advertisers under the rules.
It comes as the federal government has blocked attempts to determine how much taxpayer dollars are being spent on government advertising on X. Both the treasury and the finance department have blocked Guardian Australia freedom-of-information requests for the ad spend on X since Musk took over the platform in 2022.
Finance collects ad spending data for all government agencies, while treasury had been running ads on X promoting the stage three tax cuts last year.
Both departments claimed releasing the information would have an adverse effect on the government's ability to negotiate advertising rates. The decisions are being reviewed by the office of the Australian information commissioner.