Clement Brako Akomea Table of Contents
A new AI investment scam is making waves, targeting unsuspecting victims through fake social media ads and deceptive tactics.
This scam combines artificial intelligence (AI), fake celebrity endorsements, and phishing websites to steal personal data and hard-earned money. Researchers have flagged a 335% rise in these fraudulent activities, urging everyone to stay vigilant.
Imagine seeing an ad with your favorite celebrity endorsing a “safe” investment only to lose your savings. That’s exactly how this scam works, and its reach is global.
Key Takeaway to AI Investment Scam
- AI Investment Scam: Scammers are exploiting AI and social media ads to manipulate victims into giving up money and sensitive information.
What is the AI Investment Scam?
Cybersecurity researchers have revealed a sophisticated AI investment scam designed to lure victims into fake investment opportunities. Known as “Nomani,” the scam uses fraudulent ads on popular social media platforms.
These ads often feature fake testimonials from AI-generated videos of celebrities, giving them an air of legitimacy.
The scam’s primary goal? To direct unsuspecting victims to phishing websites that harvest their data. Victims are later coerced into transferring money to non-existent investments, resulting in significant financial loss.
How the Scam Operates
The AI investment scam follows a calculated approach:
- Social Media Ads
Fraudsters post fake ads on Facebook, Instagram, and Threads. Some ads use stolen or fabricated profiles to gain credibility. These accounts often pose as small businesses or influencers with a following. - Phishing Websites
Once users click on the ad, they’re directed to a phishing website. These websites mimic trusted brands or even local news media outlets. They request personal information like names, emails, and phone numbers. - Fake Investment Gains
Using the collected data, scammers call victims, convincing them to invest in non-existent products. Victims see fake dashboards showing unrealistically high returns to lure them deeper into the scheme. - Demands for Fees
When victims try to withdraw their “profits,” scammers demand additional fees or sensitive information like ID copies and credit card numbers. - Complete Loss
In the end, victims lose both their money and personal data.
Real-Life Example
This scam is eerily similar to South Korea’s MIDAS operation, which defrauded victims of over $6.3 million. In this case, scammers used fake trading platforms to steal funds under the guise of legitimate stock trades.
According to the Financial Security Institute (K-FSI), the fraudsters even created YouTube videos and KakaoTalk chat groups to lure victims.
Tactics Used by Scammers
| Method | Details |
|---|---|
| AI Video Testimonials | Deepfake videos featuring celebrities endorsing fake investments. |
| Malvertising | Ads on social platforms using fake accounts or stolen profiles. |
| Phishing Links | Redirects victims to fake websites mimicking trusted organizations. |
| Call Center Manipulation | Scammers call victims to push further investments or loans. |
| Social Engineering | Building trust through fake dashboards and promises of high returns. |
Who is Behind the Scam?
ESET researchers believe the AI investment scam is operated by Russian-speaking groups, similar to large-scale operations like Telekopye.
These groups are organized, with specific teams handling phishing sites, ad distribution, and data harvesting.
They exploit weaknesses in social media platforms to create fake accounts and spread fraudulent ads.
Why You Should Be Concerned
This scam isn’t just about losing money, but also about losing control of your data. Scammers often use stolen data for follow-up attacks like identity theft or social engineering.
Victims are frequently contacted multiple times, with scammers pretending to offer help recovering lost funds.
How to Protect Yourself
- Be Skeptical of Ads
If an ad seems too good to be true, it probably is. Verify sources before clicking. - Avoid Phishing Links
Don’t share personal information on unfamiliar websites. Always double-check the URL. - Enable Two-Factor Authentication (2FA)
Secure your social media accounts to prevent unauthorized access. - Report Suspicious Activity
Report fake ads or accounts to the platform immediately. - Stay Updated
Regularly follow cybersecurity news to stay ahead of new scams.
About ESET
ESET is a Slovak-based cybersecurity company dedicated to protecting individuals and businesses from digital threats. Known for its in-depth threat reports, ESET has been a trusted name in the fight against online scams and malware.
Rounding Up
The AI investment scam is a stark reminder of the dangers lurking online. By leveraging AI and social media, scammers have crafted a scheme that feels real but leads to devastating losses.
Always verify the legitimacy of investment opportunities, stay vigilant online, and report suspicious activities. Together, we can make the internet a safer place.
FAQs
How does the AI investment scam trick people?
- It uses AI-generated videos, fake ads, and phishing websites to gain trust and steal money.
Can I recover my money if scammed?
- Unfortunately, recovering lost money is rare, but you should report the scam to your bank and local authorities immediately.
Are there tools to check phishing websites?
- Yes, tools like Google Safe Browsing and Norton Safe Web can help detect malicious sites.
How can I report these scams?
- You can report scams to platforms like Facebook or Instagram and local cybersecurity agencies.
Is ESET reliable for cybersecurity?
- Yes, ESET is a well-known company providing effective solutions against online threats.
