AI deepfake social media 'influencers' promote fraudulent investment platforms targeting UK savers

What is this scam?

Which? and the FCA have warned of a sharp rise in investment scams using AI-generated video and text to create fictional financial advisors or convincing deepfakes of real UK celebrities and journalists, who promote fraudulent investment platforms to social media followers. The fake personas build audiences over weeks before directing followers to professional-looking investment websites where deposited funds are locked and cannot be withdrawn. The FCA's investment scam register has seen a significant increase in platforms promoted using AI-generated content. UK victims typically lose between £10,000 and £50,000 before recognising the platform as fraudulent, and money transferred to these platforms is rarely recovered.

Example scam message

Red flags to look out for

• The message creates urgency — threatening a fine, missed delivery, or account closure.
• Links lead to unofficial domains that don't match the real company's website.
• You weren't expecting this message and can't verify the event it references.
• It asks you to confirm payment details or personal information via a link.
• The sender's number or email address doesn't match the company's official contact.

What to do if you receive this

1. Do not transfer money — your bank will never ask you to move funds to a 'safe account'.
2. Hang up and call your bank directly on the number printed on the back of your card.
3. Report it to Action Fraud at actionfraud.police.uk.
4. If you've already transferred money, contact your bank immediately and ask about the APP fraud refund scheme.