Two Canadians lose $2.3 million in AI deepfake crypto scam
Two Canadians, one from Ontario and one from Prince Edward Island, lost a combined $2.3 million after being deceived by AI-generated deepfake videos. The Ontario victim lost $1.7 million after watching a fake video of Elon Musk, while the other lost $600,000 after seeing a clip falsely linked to the show Dragon's Den. The scam involved a fraudulent cryptocurrency investment scheme. The incident was reported on December 21, 2025.
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AI deepfake videos of Cyprus president and celebrities scam victims out of thousands
AI-generated deepfake videos impersonating Cyprus President Nicos Christodoulides and other public figures were used to promote fake investment platforms, scamming around 15 people out of €10,000 to €15,000 each. The Digital Security Authority warned that no tools exist to protect citizens from such malicious AI content. Scammers also used images of business tycoons and celebrities across several months. An MP has proposed a law to criminalise the unauthorised use of people in AI material.
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Guernsey Deputy Targeted in AI-Generated Investment Scam
Scammers used AI-generated video and fake press reports to impersonate Guernsey's senior politician, Deputy Lindsay de Sausmarez, falsely showing her endorsing a non-existent government investment scheme. The deputy warned the public on social media not to fall for the scam, which contained a typo referring to her as 'Mr.' No financial losses have been reported, but the incident is part of a series of scams using recognisable local figures and media.
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Synthesia AI Used to Create Fake Supporters of Burkina Faso Coup
In January 2023, AI-generated videos of fictitious Americans expressing support for Burkina Faso's military junta circulated on WhatsApp and social media. The videos were created using Synthesia's AI video generator. Synthesia banned the user responsible and condemned the misuse, highlighting challenges in content moderation for AI-generated media.
- AI system involved
- Synthesia
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Greek Finance Minister Sues Over Deepfake Investment Scam Advert
Greek Minister of Economy and Finance Kyriakos Pierrakakis and his ministry filed a lawsuit against unknown administrators of a Facebook page. They allege that AI was used to create a deepfake video falsely depicting the minister urging citizens to invest in high-yield programmes. The lawsuit accuses the page of deceptive advertising. The EU AI Act classifies deepfakes as limited risk.
- Company involved
- Unknown Facebook page administrators
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UAE Company Loses $35 Million in Deepfake Audio Scam
Fraudsters used forged emails and deepfake audio to impersonate a company director, convincing a branch manager at a UAE company to transfer $35 million as part of a fake acquisition. The manager believed he was following instructions from the director and a US-based lawyer. The incident, which occurred in January 2020, led to a US federal court request for assistance in tracing the stolen funds. The case highlights the growing threat of deepfake technology in corporate fraud.
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In re Marla C. Martin (N.D. Illinois (Bankruptcy)): AI-hallucinated content in court filing, Sanction of $5,500 and mandatory AI education
Generated fake case citations used in a legal brief, misleading the court and opposing parties.
- Company involved
- Semrad
- AI system involved
- ChatGPT
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FMA Warns of Deepfake Impersonation Scam Targeting Kiwi Investors
The New Zealand Financial Markets Authority (FMA) has warned that a pump-and-dump scam using deepfake ads impersonating business leaders is targeting Kiwi investors. Victims are lured into WhatsApp groups via social media ads and encouraged to buy low-value shares, artificially inflating prices before scammers sell, leaving investors with losses. The FMA has received multiple complaints and is sharing information with overseas regulators, while urging the public to be cautious of unsolicited investment advice.
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Sky Gold subsidiary loses Rs 10.70 crore in deepfake scam
Starmangalsutra Private Limited, a subsidiary of Sky Gold and Diamonds, lost approximately Rs 10.70 crore after fraudsters used deepfake techniques to impersonate a director and trick an employee into transferring funds to unknown accounts. The incident was discovered on July 15, 2026, and the company reported it to cybercrime authorities and banks. Sky Gold stated there is no indication of broader IT system breaches.
- Company involved
- Starmangalsutra Private Limited
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Woody Nora v. M & A Transport, Inc., et al. (E.D. Louisiana): AI-hallucinated content in court filing, Monetary Sanction; 1…
The AI tool generated fictitious case law citations that were included in a court filing, affecting the plaintiff and the court.
- AI system involved
- Westlaw Precision
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Scammers used AI-generated faces to pose as a Boston law firm
Scammers used a website and AI-generated faces to create a fake law firm called Arthur Davidson and sent a DMCA copyright infringement notice to a blogger. The blogger investigated and discovered the lawyers' photos were created by a generative adversarial network and the firm's website contained many red flags. The website was shut down shortly after the blogger contacted a company on whose behalf the notice was allegedly sent.
- Company involved
- Arthur Davidson
- AI system involved
- This Person Does Not Exist
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Selangor police investigate AI deepfake video falsely linking former IGP to scam
A deepfake video on TikTok used artificial intelligence to depict former Inspector-General of Police Tan Sri Acryl Sani Abdullah Sani endorsing a money scam linked to a 'Datuk'. The video, which circulated from 20 June 2025, was entirely fabricated. Acryl Sani lodged a police report, and Selangor police are investigating under the Penal Code and Communications and Multimedia Act, warning of firm action against those spreading the fake content.
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Google sues Chinese gang over AI-powered fraud targeting Americans
Google has filed a lawsuit against a Chinese cybercrime group called Outsider Enterprise, alleging it used Google's Gemini AI to create hundreds of fake websites impersonating companies and government services. The group allegedly sent millions of phishing messages to Android users, defrauding hundreds of thousands of Americans of millions of dollars. Google is coordinating with the FBI and wireless carriers to dismantle the network. The lawsuit, filed in the Southern District of New York, seeks an injunction to take down the operation.
- Company involved
- Outsider Enterprise
- AI system involved
- Gemini
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West Virginia Couple Targeted in AI-Generated Real Estate Scam
Raegan Bartlo received an email on August 23, 2024, that appeared to be from her title company lawyer, instructing her to wire a $255,000 down payment for her new home. The email was part of a scam using generative AI to impersonate real estate professionals. Cybersecurity officials say such scams are occurring across the country, targeting homebuyers. The Bartlos were targets, but it is unclear if they lost any money.
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BNT Host and Doctor Used in AI Deepfake Scam for Fake Medicine
A deepfake video was created using artificial intelligence, falsely depicting BNT host Simeon Ivanov and Dr. Spas Spaskov endorsing an unregistered medicine. The video, which altered a real television appearance, was posted on social media as a scam advertisement. The public television reported the fake publication, and it was subsequently removed. The incident highlights the growing use of AI-generated deepfakes for fraud.
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Deepfake Video Falsely Shows Indian Finance Minister Endorsing Investment Platform
A deepfake video circulating on social media falsely depicted Indian Finance Minister Nirmala Sitharaman endorsing an investment platform promising high returns. CyberPeace confirmed the video was AI-generated and manipulated, with no such endorsement made. The incident highlights the use of deepfakes to scam the public.
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Companies face AI deepfake job candidates for remote roles
US companies report a surge in fake job seekers using generative AI tools to fabricate identities, employment histories, and conduct deepfake video interviews for remote positions. Cybersecurity firms Pindrop and CAT Labs, along with BrightHire, describe incidents where scammers, including North Korean operatives, attempted to gain employment to install malware, demand ransoms, steal data, or collect salaries fraudulently. One candidate, 'Ivan X', was detected by Pindrop's video authentication tool after a recruiter noticed his facial expressions were out of sync with his words.
- Company involved
- Pindrop Security
- AI system involved
- video authentication program
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Fraudsters use AI voice deepfake to trick UK energy firm CEO into transferring $243,000
In March 2019, criminals used commercially available AI voice-generation software to impersonate the CEO of a German parent company. They tricked the CEO of a UK-based energy firm into urgently wiring $243,000 to a Hungarian supplier. The fraud was discovered when the fraudsters attempted a second transfer, which the CEO refused. The company was insured and the loss was covered.
- Company involved
- Unnamed UK-based energy firm
- AI system involved
- Commercially available voice-generating AI software
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Deepfake video of Sam Bankman-Fried used in crypto phishing scam
A verified Twitter account posted a deepfake video of FTX founder Sam Bankman-Fried claiming to offer compensation to users of the collapsed exchange. The video directed viewers to a phishing website, ftxcompensation.com, that asked them to connect their crypto wallets and send funds with the promise of doubling them. The site's Ethereum address reportedly received over $1,000 in ETH. The account was later suspended.
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SEC warns public of deep fake investment scams featuring Lance Gokongwei
The Securities and Exchange Commission (SEC) warned the public that scammers are using deep fake videos and audio of Lance Gokongwei to endorse fraudulent investment schemes. The manipulated media circulate on social media, deceiving people into investing in a platform registered in Cyprus. Victims are asked to provide credit card details and OTPs, then lose contact when attempting to withdraw funds. The SEC advises the public to verify investment offers with the agency.
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Dutch government continued SyRI welfare fraud profiling after ban
The Dutch government deployed the SyRI algorithm to profile welfare recipients in low-income neighborhoods, despite a 2020 court ruling that the system violated EU human rights. The algorithm flagged thousands of parents for fraud based on illegal risk factors such as dual nationality, leading to false accusations, bankruptcy, and trauma. The government has announced an external review of the practices.
- Company involved
- Ministry of Social Affairs of the Netherlands
- AI system involved
- SyRI
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Attempted deepfake CEO voicemail fraud against an unnamed technology company
An attacker used synthetic audio deepfake to leave a voicemail impersonating the CEO of a technology company, asking an employee to call back to finalize an urgent business deal. The employee found it suspicious and referred the matter to the legal department, avoiding any loss. Nisos analyzed the audio and found inconsistencies in pitch and tone.
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Europol cracks down on network using deepfake ads for crypto fraud
Europol and national authorities in Belgium, Bulgaria, Germany, and Israel arrested two people in November as part of a crackdown on a criminal network that used fraudulent online ads and AI-generated deepfake videos to lure victims into fake cryptocurrency investment platforms. The network allegedly laundered 700 million euros ($816 million) through the scheme, which Europol described as operating on an 'industrial' scale. The arrests were the second phase of an operation that had already led to nine arrests in October. The article does not name the suspects or firms targeted.
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California regulator accuses Maxpread Technologies of using AI-generated fake CEO to scam investors
Maxpread Technologies allegedly used an AI-generated avatar to pose as its CEO in a YouTube video to deceive investors. The California DFPI issued cease and desist letters to Maxpread and four other companies for offering unqualified securities and making false promises. The regulator claims the companies promised high daily returns using AI trading, but these claims were false. Maxpread did not respond to requests for comment.
- Company involved
- Maxpread Technologies
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