Former economist and investment manager Gareth Morgan was caught off-guard by an AI deepfake using his voice and likeness, and he's warned people to be careful.

The investment scam made the rounds on Facebook and Instagram and encouraged Kiwis to invest in a vaguely-defined US-based scheme.

Gareth Morgan says his daughter showed him the scam - and it almost had him fooled. 

"The only giveaway is the backdrop, I don't recognise the house behind me. But everything else - the face, the lip movements, the voice, obviously - I can't tell."

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