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New investment scams deploy AI-powered bots that impersonate financial experts, creating entirely fabricated companies and investment platforms.
Fraudsters are developing intricate online investment scams, using AI-powered bots to create fake companies and simulate expert advice. Unlike traditional phishing attacks, these scams build entire fraudulent ecosystems with convincing websites and dashboards. Victims are lured with promises of high returns and often lose thousands of dollars.
“This new wave of scams poses a significant threat,” warns Robert Duncan of Netcraft. He emphasizes the need for collaboration with regulators and industry partners to combat the problem.
These scams exploit a desire for quick profits and use social pressure tactics, say security experts. By manipulating victims with realistic interfaces and interactive elements, criminals are becoming increasingly convincing in their deception. Consumers are urged to exercise extreme caution with any online investment opportunities.
