Alleged Deepfake Investment Scam in Spain Defrauds 208 Victims of €19 million ($20.9 million)
Spanish police arrested six individuals allegedly behind a €19M ($20.9M) global investment scam powered by AI. The operation used deepfake ads featuring national celebrities to deceive victims, many of whom were selected through targeting algorithms. Scammers posed as financial advisors and fake officials, cycling through romance baiting, investment fraud, and recovery scams. AI-generated content amplified trust and engagement.
- Date it happened
- 2025-04-07
- Organisation involved
- Unnamed criminal group in Spain, Individuals arrested in Granada and Alicante
- Product, system or model
- Algorithmic targeting tools, Fake investment platforms, Identity spoofing and impersonation tools, Deepfake technology
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