Fake News Is Costing Billions

It started with a two-minute video.
JSE Group CEO Leila Fourie stares into the camera, her voice measured and authoritative. “Invest now through this WhatsApp link,” she says. “300% returns guaranteed. Don’t miss out.” Her colleague, Director Mark Randall, appears in a follow-up clip: “Safe, secure, JSE-backed.”

Neither video is real. Not a single frame of it.

Both were AI deepfakes, cloned from public speeches in minutes using tools anyone can download for free. Desperate savers transferred money through Telegram. Telegram groups exploded with excitement. The JSE scrambled out an emergency alert: “100% fake.” But the damage was done. Trust evaporated. Copycat scams followed within days.

This is not a fringe problem. It is a corporate emergency.

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