Victim loses £250,000 after fake AI investment advert builds web of deception

A victim has lost £250,000 after criminals used an apparently AI-generated video featuring a well-known financial personality to promote a fraudulent investment opportunity.

Police said the sophisticated fraud began with a relatively small investment but escalated after the victim was contacted through WhatsApp and persuaded to transfer increasingly large sums.

The victim, from the Ards and North Down area, was encouraged to create several online accounts and allowed the fraudsters remote access to a computer after they claimed they were helping with the investment.

Victim encouraged to borrow money

As the deception continued, the criminals persuaded the victim to borrow money to invest.

Funds were transferred into accounts controlled by the fraudsters, who later demanded further payments before money supposedly held in the investment could be released.

Inspector Youle said:

“This was a sophisticated and substantial fraud in which criminals gradually gained the victim’s trust before encouraging increasingly significant payments.

“Fraudsters can create extremely convincing advertisements, websites and communications. The use of artificial intelligence means that videos, voices and apparent endorsements from recognisable people can also be fabricated.

“An online advertisement or apparent celebrity endorsement should never be regarded as proof that an investment is genuine.”

Warning signs of an investment fraud

Police urged people to be particularly cautious if they are contacted through messaging services and asked to:

• transfer money;

• create additional accounts;

• borrow money to invest;

• give someone remote access to a computer; or

• pay more money before an investment can be released.

Inspector Youle added:

“Never allow yourself to be rushed into making a financial decision. Independently verify who you are dealing with and, where appropriate, check that a firm or individual offering financial services is authorised by the Financial Conduct Authority.

“If you are concerned about an investment involving a family member or friend, have that conversation with them. A timely conversation or independent check could prevent further loses.”

‘They are master manipulators’

Superintendent Joanne Gibson, chair of the Scamwise Partnership, said taking time to check financial activity could make a “real difference”.

She said:

“The Police Service of Northern Ireland will use every available resource to protect individuals and communities from the harm caused by fraud and exploitation, but I would also ask family members to take the time to have a conversation with their family members about fraud in order to try and safeguard them against criminals.

“We know that this type of crime can have a far-reaching impact, but we can all work together to protect and prevent this from happening to those we care about.

“Fraudsters can be extremely convincing and use a variety of scenarios to make people believe them to be genuine. They are master manipulators.”

Anyone concerned about the intentions of someone involved with a relative or friend can contact police on the non-emergency number 101.

Superintendent Gibson said:

“We will listen and we will act. Any abuse of that trust will be treated with the utmost seriousness.”

Stop and check before transferring money

Police are advising people not to transfer money or disclose personal information to someone they do not know without first checking who they are dealing with.

People should resist pressure to act quickly and independently verify any caller, company or investment opportunity using a trusted source. Where possible, callers should be checked using another telephone line, while suspicious images can be examined through an online image search.

Anyone considering an investment can check whether a firm or individual is authorised through the Financial Conduct Authority.

How to report suspected fraud

Anyone who believes they have been a victim should contact their bank immediately, giving it the earliest possible opportunity to act.

Fraud can also be reported:

• to the PSNI online at www.psni.police.uk/makeareport;

• by calling police on 101;

• through Report Fraud at www.reportfraud.police.uk;

• by calling Report Fraud on 0300 123 2040; or

• by forwarding a suspected fraudulent text message to 7726.

Further advice is available at www.nidirect.gov.uk/scamwiseni.

The case demonstrates how a convincing online advert can develop into prolonged manipulation involving multiple accounts, remote computer access and borrowed money. Police say an apparent endorsement—even from a recognisable public figure—must never be treated as proof that an investment is genuine.