WARNING: Beware frightening new 'deepfake' Martin Lewis video scam promoting a fake 'Elon Musk investment' – it's not real

Good Morning Britain presenter Kate Garraway: "The scam clip currently circling online shows Martin Lewis apparently endorsing an investment scheme from Elon Musk. Before you take a look, we want to emphasise again, just hold in your mind, that this video is fake."

The computer-generated FAKE Martin: "Elon Musk presented his new project in which he has already invested more than $3 billion. Musk's new project opens up great investment opportunities for British citizens. No project has ever given such opportunities to residents of the country. Given the interesting features of the app and having seen how it works."

Kate Garraway: "Gosh, Martin, I mean, that is terrifying isn't it. It looks like you. It sounds like you. There's a little bit of sort of glitching there. But then very often that can happen when you're on a Zoom link..."

Good Morning Britain presenter Ben Shephard: "It's buffering or whatever."

Kate Garraway: "Absolutely terrifying."

The real Martin: "Yeah, I'm even wearing, I think, the same shirt that I'm wearing today when the image is being taken from. This is a deepfake. I mean, they've put it together. We're not quite sure of the exact tech. This is going around on Facebook at the moment. And this, as far as I know, is the first deepfake scam advert that we've seen. It's certainly the first with me. It's an absolutely terrifying development.

"This is still only early stages of the technology and they are only going to get better. Within a year or two there will clearly be the interview that we're doing now would be manipulated so that you would be asking questions and I would be answering questions about those fake adverts. That's the stage we're in.

"Now what you have to look at and I am viscerally angry about this, people watching will know I've been campaigning for proper regulation of scam adverts for years. It was 2017 when they proliferated. It was 2018 when I sued Facebook. It was 2019 when I got a £3 million settlement to charity from Facebook.

"It was also 2019 when we first heard of the Online Harms, now the Online Safety, Bill. That still has not been put into place, It's taken a long time to get there. It's being discussed. There's meant to be an online advertising program as well. We've done two consultations on that. We've heard nothing from the Government.

"So we still have an absolute Wild West on social media and other big tech advertising platforms that allow scammers to get away with impunity. And what I want everybody watching to remember, every time you see one of those adverts, one of the big tech firms is being PAID to promote that advert.

"And these destroy vulnerable people and many non-vulnerable people's lives. Once you get scammed, the impact on your mental health and self-esteem is huge with many people. And we are still, after all these years... How many times have I done this, been on this show talking about scam adverts trying to warn there's... 'no, I don't do adverts' – we're still having it. And now it's deepfake videos that are really plausible.

"We are in a dangerous, dystopian future and nothing is being done to protect people. It's an absolute sham."