The Australian Securities Exchange (ASX)
The former chief of the ASX has not set up WhatsApp group offering stock tips. Image by Steven Saphore/AAP PHOTOS

Deepfake of former ASX boss reappears on Facebook

David Williams June 10, 2024

A video shows former ASX chief executive Dominic Stevens spruiking a WhatsApp investment advice group.


False. The video is a deepfake generated using artificial intelligence tools.

AAP FACTCHECK – The former head of Australia’s stock market operator has set up a WhatsApp channel to provide investment advice, social media video ads claim.

But the video being shared is a fake that has been generated using artificial intelligence (AI) tools.

The video appears to have used a real clip of the then-Australian Securities Exchange (ASX) chief executive Dominic Stevens speaking about his decision to step down in 2022, but his words have been edited.

A Facebook page has been posting a video purportedly showing Mr Stevens speaking about a new WhatsApp group, in sponsored ads since June 1, 2024.

“If you wanna know more, please join my WhatsApp group. I will share the five most worth buying stocks for free every day in the WhatsApp group,” he says in the suspicious clip.

A deepfake video ad purporting to show former ASX CEO Dominic Stevens.
 Fake ads featuring an altered video of the former ASX head are popping up on Facebook. 

But the audio in the video is fabricated.

The biggest clue is that Mr Stevens’ mouth doesn’t move in time with his purported words. The video is also low-resolution.

The manipulated clip appears to be from a genuine 2022 Sky News Australia interview with the then-ASX boss about his decision to step down.

In the real video, he makes no mention of any WhatsApp group.

The Sky News banner announcing “ASX CEO DOMINIC STEVENS TO RETIRE” in the original has also clearly been altered in the fake to read: “The Best High Dividend Stocks to Invest in 2024.”

The banner text in the latter is also in title case, which is not the broadcaster’s style.

Sky News interview with ASX CEO Dominic Stevens
 A real Sky News Australia interview seems to be the basis for the deepfake of the former ASX boss. 

The Australian newspaper reported on the same fake video in April and the Australian Financial Review has also reported on it.


Treat posts appearing to show well-known figures and celebrities promoting new products with caution if they include more than one of the following features:

* The people speak with unusual pauses, stilted speech patterns or inconsistent accents.

* Their mouth movements aren’t in time with their speech, or their facial expressions and movements don’t match their speech tone.

* The videos are low-resolution or stutter.

* The source and/or context of the video is unclear.

The Verdict

The claim that a video shows former ASX chief executive Dominic Stevens spruiking a WhatsApp investment advice group is false.

The video is fake and has been created using AI technology.

False – The claim is inaccurate.

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