# Santander Issues Urgent Warning Over Deepfake Investment Scams Bank alerts customers to rising cryptocurrency fraud involving AI-generated celebrity endorsements. - **Source:** [Daily Express :: Finance Feed](https://www.express.co.uk) - **Published:** 2026-11-11 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/6eeeab18-ef51-4f52-999e-9737831a2ad4 ## Santander Issues Fraud Alert Santander has issued a formal warning to its customers regarding sophisticated online investment scams. The bank highlighted a recent case where a customer narrowly avoided losing £5,000 to fraudsters. This alert aims to educate users on the evolving tactics criminals employ to manipulate individuals into transferring funds under false pretenses. ## The Rise of Deepfakes Fraudsters are increasingly utilizing AI technology to create deepfake videos featuring celebrities promoting cryptocurrency investments. These videos appear highly realistic, tricking victims into signing up for fraudulent schemes. The bank warns that if a famous face is promoting a crypto opportunity, it is highly likely to be a sophisticated digital fabrication. ## Typical Scam Mechanics Scammers often contact victims after they provide personal details, claiming to be investment experts who can manage accounts. They may allow small withdrawals initially to build false trust. Once the victim invests larger sums, the scammers demand exorbitant fees or taxes for withdrawals before cutting off all communication, leaving the victim empty-handed. ## Scale of UK Fraud The 2026 Annual Fraud Report identifies fraud as the most prevalent crime in the UK. Data indicates eight people are defrauded every minute, with nearly £2,500 lost during that same timeframe. Despite banks preventing £1.68 billion in unauthorized payment fraud in 2025, criminals still successfully stole £1.28 billion from various victims. ## Broader Economic Impact Beyond immediate financial losses, fraud significantly damages the UK economy and erodes public trust in financial systems. The harm extends to victims' mental health and personal livelihoods. Santander emphasizes that the current landscape shows an asymmetry of liability, where banks bear the burden of reimbursement while other platforms continue profiting from scams. ## Identifying Red Flags Santander advises that no legitimate investment can guarantee high returns without risk. If an opportunity sounds too good to be true, it likely is. Customers are urged to conduct thorough independent research and seek professional financial guidance before committing to any significant investment, especially when found through social media advertisements. ## Immediate Reporting Steps If a customer suspects they have been targeted or have provided details to scammers, they must act immediately. Santander provides specific contact numbers, including 0330 9 123 123 and 0800 313 4321, for urgent assistance. Additionally, victims should report the incident to the national fraud reporting service at 0300 123 2040. ## Evolving Criminal Tactics As technology advances, criminals develop more sophisticated methods to access personal funds. While there is no single solution to prevent all scams, awareness of these techniques remains the best defense. Santander continues to update its fraud prevention resources to help customers navigate the increasingly complex digital landscape and protect their assets. ## Sources covering this story - https://www.express.co.uk/finance/personalfinance/2265361/santander-confirms-5000-fraud-alert — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._