Facebook users are being warned to watch out for a scam that appears to show former NSW premier Mike Baird revealing his secrets to getting rich using Bitcoin.
One of the ways this scam is duping victims is by imitating major news websites, including news.com.au.
When Facebook users click on the fake article it takes them to a website that looks almost identical to the news outlet it attributes the reporting to.
The scam article then falsely claims Mr Baird appeared on The Project to promote a “wealth loophole” he found by investing in Bitcoin.
The fake article then claims the investment opportunity can “transform anyone into a millionaire within 3-4 months”.
Readers are encouraged to buy the digital currency and are promised a quick payout.
Mr Baird, who now works for NAB, addressed the fake articles earlier in the week.
He said the scam was brought to his attention when his children asked him why he went on The Project with Waleed Aly to “spruik a bitcoin get-rich quick scheme”.
Mr Baird said he thought it was amusing at first but then more and more people kept asking him about it.
“For the last several months, I’ve been featuring in a Facebook ‘fake news’ scam. Often it uses photo of me from a previous appearance on The Project, but there are other varieties,” he wrote on Facebook.
“They link to, what appear to be, news sites. But it’s actually all fake and just all designed to make people invest their money into a scam.”
He made it clear he wasn’t associated with any of the companies or products mentioned in the article and was “alarmed” that people may believe otherwise.
“Facebook have apparently released some new tools to help make it easier to report scams, but there are obvious challenges especially when, as quickly as they take down fake accounts, new ones spring up,” he said.
“The actions are clearly the result of sophisticated professionals and we need to take further action to stop them.”
Mr Baird’s post came after mining billionaire Andrew Forrest sent a letter to Facebook founder Mark Zuckerberg calling for action to stop these types of scams.
Mr Forrest has also been the subject of these types of scams on the social media website.
In the letter, obtained by The Australian, he claimed Facebook had the power to stop these scams and questioned why it hadn’t done so yet.
“You have the power and technology to prevent these scam advertisements from running on your platform,” Mr Forrest wrote.
“Is revenue more important to you than the life savings of elderly people, Mr Zuckerberg?”
He said when he brought the fake advertisements to the company’s attention he was told they couldn’t guarantee their tools would prevent these scams and relied on users reporting them,
Mr Forrest claimed this answer was “not good enough” and urged the Facebook founder to “take responsibility”.
A Facebook spokesperson said the scam ads were not allowed on its service and it took “swift action” to remove them when they became aware of them.
“These scammers use sophisticated cloaking technology to mask content so that it shows different versions to our ad review systems than it does to people,” the spokesperson said.
“This is a clear violation of our policies as ads must not use tactics intended to circumvent our ad review process or other enforcement systems.
“This is an adversarial issue, and not unique to Facebook, however we’re making significant investments in scaled detection technology to prevent these scams.”