Scammers are leveraging AI-generated deepfake videos to impersonate respected financial figures and promote fraudulent investment schemes.

The claim that scammers are using AI-generated deepfake videos to impersonate respected financial figures and promote fraudulent investment schemes is supported by multiple reports. Deepfake technology has been increasingly used in financial scams, with incidents such as a finance worker in Hong Kong being tricked into transferring $25 million to fraudsters using deepfake videos to impersonate the company's CFO. This technology allows scammers to create highly convincing fake videos and audio recordings, posing significant challenges for individuals and organizations to discern real from fabricated content, leading to substantial financial losses Forbes, CNN.