As AI deepfakes cause havoc during other elections, experts warn the UK’s politicians should be prepared.
“Just tell me what you had for breakfast”, says Mike Narouei, of ControlAI, recording on his laptop. I speak for around 15 seconds, about my toast, coffee and journey to their offices.
Within seconds, I hear my own voice, saying something entirely different.
In this case, words I have written: “Deepfakes can be extremely realistic and have the ability to disrupt our politics and damage our trust in the democratic process.”
Image: Tamara Cohen’s voice being turned into a deepfake
We have used free software, it hasn’t taken any advanced technical skills, and the whole thing has taken next to no time at all.
This is an audio deepfake – video ones take more effort to produce – and as well as being deployed by scammers of all kinds, there is deep concern, in a year with some two billion people going to the polls, in the US, India and dozens of other countries including the UK, about their impact on elections.
London mayor Sadiq Khan was also targeted this year, with fake audio of him making inflammatory remarks about Remembrance weekend and calling for pro-Palestine marches going viral at a tense time for communities. He claimed new laws were needed to stop them.
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Ciaran Martin, the former director of the UK’s National Cyber Security Centre, told Sky News that expensively made video fakes can be less effective and easier to debunk than audio.
“I’m particularly worried right now about audio, because audio deepfakes are spectacularly easy to make, disturbingly easy”, he said. “And if they’re cleverly deployed, they can have an impact.”
Those which have been most damaging, in his view, are an audio deepfake of President Biden, sent to voters during the New Hampshire primaries in January this year.
A “robocall” with the president’s voice told voters to stay at home and “save” their votes for the presidential election in November. A political consultant later claimed responsibility and has been indicted and fined $6m (£4.7m).
Mr Martin, now a professor at the Blavatnik School of Government at Oxford University, said: “It was a very credible imitation of his voice and anecdotal evidence suggests some people were tricked by that.
“Not least because it wasn’t an email they could forward to someone else to have a look at, or on TV where lots of people were watching. It was a call to their home which they more or less had to judge alone.
“Targeted audio, in particular, is probably the biggest threat right now, and there’s no blanket solution, there’s no button there that you can just press and make this problem go away if you are prepared to pay for it or pass the right laws.
“What you need, and the US did this very well in 2020, is a series of responsible and well-informed eyes and ears throughout different parts of the electoral system to limit and mitigate the damage.”
He says there is a risk to hyping up the threat of deepfakes, when they have not yet caused mass electoral damage.
A Russian-made fake broadcast of Ukrainian TV, he said, featuring a Ukrainian official taking responsibility for a terrorist attack in Moscow, was simply “not believed”, despite being expensively produced.
The UK government has passed a National Security Act with new offences of foreign interference in the country’s democratic processes.
The Online Safety Act requires tech companies to take such content down, and meetings are being regularly held with social media companies during the pre-election period.
Democracy campaigners are concerned that deepfakes could be used not just by hostile foreign actors, or lone individuals who want to disrupt the process – but political parties themselves.
Polly Curtis is chief executive of the thinktank Demos, which has called on the parties to agree to a set of guidelines for the use of AI.
Image: Polly Curtis, the chief executive of Demos
She said: “The risk is that you’ll have foreign actors, you’ll have political parties, you’ll have ordinary people on the street creating content and just stirring the pot of what’s true and what’s not true.
“We want them to come together and agree together how they’re going to use these tools at the election. We want them to agree not to create generative AI or amplify it, and label it when it is used.
“This technology is so new, and there are so many elections going on, there could be a big misinformation event in an election campaign that starts to affect people’s trust in the information they’ve got.”
Deepfakes have already been targeted at major elections.
Last year, within hours before polls closed in the Slovakian presidential election, an audio fake of one of the candidates claiming to have rigged the election went viral. He was heavily defeated and his pro-Russian opponent won.
The UK government established a Joint Election Security Preparations Unit earlier this year – with Whitehall officials working with police and security agencies – to respond to threats as they emerge.
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A UK government spokesperson said: “Security is paramount and we are well-prepared to ensure the integrity of the election with robust systems in place to protect against any potential interference.
“The National Security Act contains tools to tackle deepfake election threats and social media platforms should also proactively take action against state-sponsored content aimed at interfering with the election.”
A Labour spokesperson said: “Our democracy is strong, and we cannot and will not allow any attempts to undermine the integrity of our elections.
“However, the rapid pace of AI technology means that government must now always be one step ahead of malign actors intent on using deepfakes and disinformation to undermine trust in our democratic system.
“Labour will be relentless in countering these threats.”
SEC Commissioner Caroline Crenshaw, expected to leave the agency in less than a month, used one of her final public speaking engagements to address the regulator’s response to digital assets.
Speaking at a Brookings Institution event on Thursday, Crenshaw said standards at the SEC had “eroded” in the last year, with “markets [starting] to look like casinos,” and “chaos” as the agency dismissed many years-long enforcement cases, reduced civil penalties and filed fewer actions overall.
The commissioner, expected to depart in January after her term officially ended in June 2024, also criticized many crypto users and the agency’s response to the markets.
SEC Commissioner Caroline Crenshaw speaking at a Brookings Institution event on Thursday. Source: Brookings
“People invest in crypto because they see some others getting rich overnight,” said Crenshaw. “Less visible are the more common stories of people losing their shirts. One thing that consistently puzzles me about crypto is what are cryptocurrency prices based on? Many, but not all, crypto purchasers are not trading based on economic fundamentals.”
She added:
“I think it’s safe to say [crypto purchasers are] speculating, reacting to hysteria from promoters, feeding a desire to gamble, wash trading to push up prices, or, as one Nobel laureate has posited, ‘betting on the popularity of the politicians who support or stand to benefit from the success of crypto.’”
In contrast to Crenshaw’s remarks, SEC Chair Paul Atkins, Commissioner Hester Peirce and Commissioner Mark Uyeda have all publicly expressed their support for the agency’s approach to digital assets and the Trump administration’s direction of policy.
Peirce and Atkins spoke at a Blockchain Association Policy Summit this week to discuss crypto regulation and a path forward on market structure under consideration in the Senate.
During the Thursday event’s question-and-answer session, Crenshaw expanded on her views of crypto, stating that it was a “tiny piece of the market,” and suggested that the SEC focus on other regulatory concerns. In addition, she expressed concern that the agency was heading toward giving crypto companies an exception from policies that applied to traditional finance.
“I do worry that as the crypto rules are perhaps implemented, or perhaps we just put out more guidance […] where we say they are not securities, where we loosen the basic fundamentals of the securities laws so that they can operate in our system, but without any of the guardrails that we have in place. I do worry that that can lead to more significant market contagion,” said Crenshaw.
The final throes of bipartisan financial regulators under Trump?
The departure of Crenshaw would leave the SEC with three Republican commissioners, two of whom were nominated by US President Donald Trump. As of Thursday, Trump had not made any announcements signaling that he ever planned to nominate another Democrat to the SEC, and Crenshaw said the agency’s staff had been reduced by about 20% in the last year.
The Commodity Futures Trading Commission also faces a dearth of leadership, with many commissioners leaving the agency in 2025. As of December, acting Chair Caroline Pham was the sole remaining CFTC commissioner and a Republican. However, the US Senate is soon expected to vote on Trump’s nominee, Michael Selig, to chair the agency after Pham.
The Belarusian Ministry of Information has blocked access to crypto exchanges Bybit, OKX, Bitget, Gate, Bingx and Weex, it said on Thursday.
According to a government announcement, the ministry has restricted access to the global domains of several crypto exchanges, citing “inappropriate advertising” under Article 511 of the Law on Mass Media.
Belarus’ government announcement on Thursday. Source: Ministry of Information of the Republic of Belarus
Cointelegraph reached out to the blocked exchanges but had not received responses at the time of publication.
Belarus is a close ally of Russia on the world stage. The domain restriction comes on the same day that Vladimir Chistyukhin, first deputy chairman at the Central Bank of Russia, told state-backed outlet RIA Novosti that it “agreed to allow qualified investors” into the crypto market. The remarks build on recent reports that the institution was considering easing restrictions on cryptocurrencies in response to the sweeping sanctions imposed on the country.
Russia disclosed plans in late April to allow crypto access only to “super-qualified investors,” defined by wealth and income thresholds of over 100 million rubles ($1.2 million) or an annual income of at least 50 million rubles ($630,000), effectively limiting participation to high-net-worth individuals.
Chistyukhin said a “crucial point that cannot be ignored” is that “cryptocurrencies are currently being used not only as an investment but also as a means of cross-border payments.” His comments echoed recent statements over allowing broader crypto access in Russia as a response to the international sanctions:
“We certainly want to protect Russian retail investors as much as possible from transactions with such a risky asset. On the other hand, we understand that, under the current circumstances, some international payments can only be made using cryptocurrency.“
Chistyukhin said there are currently about one million qualified investors able to access crypto assets in Russia, noting that investors would also be assessed on their knowledge of cryptocurrencies. He conceded that allowing non-qualified investors to access crypto is on the table, but said it would require extreme caution.
“Specifically, such investors could be granted access only to the most liquid instruments,” he said.
Chistyukhin highlighted the need for “establishing strict restrictions and prohibitions” and said “it’s expected that cryptocurrency transactions will be conducted primarily through existing market participants, under existing licenses,” adding that “anything outside this framework will be considered illegal.“
Trust Wallet, the self-custodial crypto wallet owned by Binance co-founder Changpeng “CZ” Zhao, has partnered with European fintech unicorn and digital banking giant Revolut to introduce a new way to purchase crypto assets on its platform.
Trust Wallet users can now buy Bitcoin (BTC), Ether (ETH) and Solana (SOL) with Revolut through a direct integration, the company announced on Thursday.
With a minimum purchase starting at 10 euros ($12) and capped at 23,000 euros ($26,950) daily and per transaction, Trust Wallet’s new buy option is expected to provide a faster and easier way to access crypto from Europe.
The integration will initially support only three crypto assets, but the companies said they expect to add stablecoins such as Circle’s USDC (USDC) at a later stage.
The feature enables zero-fee crypto purchases using multiple fiat currencies supported by Revolut, including the euro, the British pound, as well as the Czech koruna, Danish Krone, Polish Złoty and others.
While Revolut–Trust Wallet crypto purchases are offered with zero fees, adding money to a Revolut account is not free of charge in many cases, including via bank transfers, card top-ups and cash deposits. Cash deposits are subject to a 1.5% fee and are limited to $3,000 per calendar month, according to Revolut’s FAQs.
The integration came shortly after Revolut secured a $75 billion company valuation after completing a private share sale in late November. “This makes us Europe’s most valuable private company and in the top 10 of the world’s most valuable private companies,” Revolut said in a post on X.
CZ-backed Trust Wallet has been actively tapping into trending market sectors, including prediction markets and real-world asset tokenization, expanding access to these offerings for self-custody users.
Cointelegraph contacted Revolut and Trust Wallet for comment on the integration, but had not received a response by publication.