A scam network based in Georgia has cheated thousands of savers across the UK, Europe, and Canada out of $35 million by utilizing fake celebrity endorsements through social media platforms. Deepfake videos and impersonated news reports featured personalities like Martin Lewis and Zoe Ball, pushing fraudulent cryptocurrency schemes. Despite the UK government's passing of an online safety law aimed to regulate such scams, it's expected that relevant measures won't be operational until next year. A data leak from scam call centers provided insight into their operations, prompting further scrutiny of existing fraud prevention measures.
The organized network from Georgia has scammed savers in the UK, Europe, and Canada out of $35m using fake celebrity adverts, highlighting ongoing issues with online fraud.
Despite a new online safety act, fraudulent advertising regulations won't take effect until next year, allowing scammers to thrive while governments struggle to catch up.
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