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David Koch's fiery warning after scam paints 'dark truth'

Former Sunrise host David Koch has warned his followers to watch out for the scams.

David Koch scam.
David Koch has called on regulators to “crack down” on platforms circulating the scams. (Source: X)

Former Sunrise host David Koch has fired up online over fraudsters using his image to try to scam people.

Taking to X (formerly Twitter), Koch shared a screenshot of a fake article being circulated by suspected scammers on the platform.

The post includes an edited image of Koch with a black eye and reads: “This article has been spread as a wildfire today. Read full story here”.

The fake media article then has the headline: “This is the dark truth behind the incident”.

Koch called on the regulators to crack down on social media platforms, tagging both the Australian Competition and Consumer Commission (ACCC) and the Australian Securities and Investments Commission (ASIC) in his post.

“WTF … land back in Sydney to this crap all over social media,” he wrote.

“BEWARE this is a scam for those who don’t realise. When are the authorities going to crack down on the platforms carrying these scams.”

Koch has long been plagued by scammers using his image on social media sites. The ads typically link to a fake media article that includes quotes attributed to Koch endorsing a cryptocurrency or other money-making scheme.

Users are invited to sign up for the scheme and are then contacted by scammers to convince them to deposit funds into the fake scheme.

In January this year, it was reported a 73-year-old woman from Western Australia lost almost $150,000 to a cryptocurrency scam that was using Koch’s image.

What is being done about the scams?

In March last year, the ACCC brought Federal Court proceedings against Facebook owner Meta over its publication of scam ads featuring prominent Aussie public figures, such as Koch, businessman Dick Smith and former NSW premier Mike Baird.

The ACCC alleged Meta engaged in “false, misleading or deceptive conduct” by publishing the ads, and argued Meta was aware the scam ads were being displayed on Facebook but did not take sufficient steps to address the issue.

“The essence of our case is that Meta is responsible for these ads that it publishes on its platform,” ACCC Chair Rod Sims said at the time.

“Meta should have been doing more to detect and then remove false or misleading ads on Facebook, to prevent consumers from falling victim to ruthless scammers.”

An ACCC spokesperson said they were unable to comment further on the court case.

The spokesperson noted the National Anti-Scam Centre was currently working with digital platforms on better ways to combat investment scams.

The government is also considering the ACCC's digital platform services inquiry interim report, which recommends mandatory 'notice-and-action' requirements among other things.

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