# Scam ads use AI-generated videos of Commonwealth Bank CEO Matt Comyn to promote a fake 'AI' income platform Source: https://www.bankingnewsai.com/ai-incidents/commonwealth-bank-2023-ceo-deepfake-scam-ads Last updated: Oct 21, 2026 Commonwealth Bank of Australia · AI used against the institution · severity 1 of 5 In May 2023 Commonwealth Bank of Australia warned that scam advertisements on Facebook, Instagram, WhatsApp and YouTube were misusing its brand and well-known news brands to promote a fictitious platform claiming to use AI to generate passive income from a A$350 investment. The bank's alert said: "Scammers have even used fraudulent, AI generated videos of CommBank CEO Matt Comyn, and others, to try and convince people to invest." The Australian Financial Review reported on 15 June 2023 that scammers were employing AI to impersonate the bank's chief executive in a video on Meta's platforms. RMIT FactLab later found that related CBA-branded scam videos used artificially generated audio dubbed over real news footage of other public figures. No losses tied to the Comyn videos were disclosed. ## Key facts | | | | --- | --- | | Date | May 26, 2023 | | Institution | Commonwealth Bank of Australia | | Country | Australia | | AI system | AI-generated video and audio likenesses of the bank's CEO and other public figures in social-media scam advertisements | | AI? | Described as AI by the institution or regulator — The institution, a regulator or a court called the system AI. | | Category | Brand impersonation (AI used against the institution) | | Status | Confirmed by the institution | | Severity | 1 of 5 — Contained executive and brand impersonation aimed at the public: the bank issued warnings, and no losses, victim numbers or regulatory action tied to the Comyn videos have been disclosed. | ## What happened? CBA's scam alert, dated May 2023 and headed "Investment scam alert: Fictitious website impersonating CommBank", said scammers were posting advertisements on social media, particularly Facebook, Instagram, WhatsApp and YouTube, claiming to use AI to generate passive income and promising A$1,000 to A$5,000 a day from a A$350 investment. The bank said the scammers set up fake trading profiles, showed fake returns and then asked for more money, often in cryptocurrency, and that they had used fraudulent, AI-generated videos of chief executive Matt Comyn and others. [1] On 15 June 2023 the Australian Financial Review reported that a video posted on Meta's Facebook and Instagram platforms showed a likeness of Comyn claiming he had developed an automated tool to deliver hefty investment returns. The AFR described it as an evolution of bogus celebrity-endorsement ads, in which scammers employed AI to impersonate the bank's boss. [2] RMIT FactLab, a fact-checking unit, reported on 27 July 2023 that several Facebook videos carrying the Commonwealth Bank logo dubbed artificially generated audio over authentic clips of Channel Nine presenters, Richard Branson and Gina Rinehart to promote a A$350 'quantum' passive-income scheme, and that CBA had warned customers of similar scams using doctored videos on 26 May 2023. The FactLab check does not mention Comyn. [1][3] ## Timeline - May 26, 2023 — CBA warns customers on its scams and security alerts page about a fictitious AI passive-income platform misusing its brand, later noting AI-generated videos of CEO Matt Comyn. [1][3] - Jun 15, 2023 — The Australian Financial Review reports that scammers are using AI to impersonate Comyn in a video on Facebook and Instagram. [2] - Jul 27, 2023 — RMIT FactLab rates related CBA-branded scam videos, which used artificially generated audio over real news footage, as false. [3] ## What was the impact? - Customers: No losses or victim numbers tied to the Comyn videos have been disclosed. - Other: The bank's brand and its chief executive's likeness were used to lend credibility to an investment scam; RMIT FactLab said two of the related videos had been viewed more than 300,000 times on Facebook. [1][3] ## How did Commonwealth Bank of Australia respond? CBA's alert said: "CommBank urges you to be sceptical of any opportunity that seems too good to be true. Always Stop, Check and Reject if in doubt." It told customers they could verify any CommBank investment product by contacting the bank through the official phone numbers on its website. [1] ## What was the outcome? CBA published the warning in its scam alerts, where it remains in the past-alerts archive. No arrests, regulator action or takedown figures specific to the Comyn videos have been reported as of 21 October 2026. [1] ## FAQ ### Did Commonwealth Bank CEO Matt Comyn promote an AI investment platform? No. In May 2023 CBA warned that scam advertisements were promoting a fictitious AI passive-income platform and that scammers had used fraudulent, AI-generated videos of Comyn and others to convince people to invest. The bank does not promote investments this way. ### Was the Matt Comyn video a deepfake? Yes, according to the bank. CBA's own alert described the videos as fraudulent and AI-generated, and the Australian Financial Review reported in June 2023 that scammers employed AI to impersonate the bank's chief executive in a video on Facebook and Instagram. ### Was any money lost to the Matt Comyn deepfake scam? No losses or victim numbers tied to the Comyn videos have been disclosed. CBA said the wider scheme asked for an initial A$350, showed fake returns, then asked for more money, often in cryptocurrency, so anyone who paid should contact their bank immediately. ### How can CBA customers check whether an investment offer is genuine? CBA told customers to be sceptical of any opportunity that seems too good to be true, to 'Stop, Check and Reject' if in doubt, and to verify any CommBank investment product by calling the bank on the official numbers listed on its website. ## Sources 1. [Past scam & security alerts: May 2023 - Investment scam alert: Fictitious website impersonating CommBank](https://www.commbank.com.au/support/security/latest-scams-and-security-alerts/past-alerts.html) — Commonwealth Bank of Australia, May 26, 2023 (official): "The scammers misuse well-known news brands and the CommBank brand to try and legitimise their scam. Scammers have even used fraudulent, AI generated videos of CommBank CEO Matt Comyn, and others, to try and convince people to invest." 2. [CBA jostles with AI-generated Matt Comyn scam](https://www.afr.com/companies/financial-services/cba-jostles-with-ai-generated-matt-comyn-scam-20230615-p5dgtx) — Australian Financial Review, Jun 15, 2023 (news): "In an evolution of the prominent bogus social media advertisement that leverages the likeness of celebrities, scammers employ AI to impersonate the bank's boss." 3. [Scammers fake Gina Rinehart and Richard Branson in dodgy get-rich-quick videos](https://www.rmit.edu.au/news/factlab-meta/videos-with-doctored-audio-of-celebrities-used-in-financial-scam) — RMIT FactLab, Jul 27, 2023 (news): "The Commonwealth Bank warned customers of similar scams using doctored videos on May 26 on its "Latest scams, fraud and security alerts" webpage." ## Related incidents - [Commonwealth Bank reverses 45 job cuts it attributed to an AI voice bot](https://www.bankingnewsai.com/ai-incidents/commonwealth-bank-ai-voice-bot-job-cuts-reversed) All AI incidents at banks: https://www.bankingnewsai.com/ai-incidents --- Canonical page: https://www.bankingnewsai.com/ai-incidents/commonwealth-bank-2023-ceo-deepfake-scam-ads Part of [BankingNewsAI](https://www.bankingnewsai.com/) — the register of AI incidents at banks: https://www.bankingnewsai.com/ai-incidents. 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