AI Footage of Trudeau and Musk Employed in $1.9M Edmonton Investment Fraud
According to Edmonton police, a scam involving AI-generated video clips of Prime Minister Justin Trudeau and entrepreneur Elon Musk has defrauded approximately 15 local residents this year, resulting in a collective loss of about $1.9 million.
The scam, presented as an advertisement on social media platforms, promises significant financial benefits and showcases manipulated video clips of Trudeau and Musk endorsing the scheme, as per a Dec. 6 press release from the Edmonton Police Service.
The fraudulent ads are produced using artificial intelligence technology and are displayed on account feeds across platforms such as Instagram, Facebook, WhatsApp, and TikTok, officials stated.
“With technology advancing at rapid speeds, we are seeing an increased number of scams that are using artificial intelligence to generate false endorsements from popular public figures related to investments,” stated Det. Trevor Semotiuk in the release.
Individuals who clicked on the scam ad and expressed interest were subsequently contacted by a purported “financial advisor” or “trading specialist” who charged them $250 for investment advice and promised high returns, as per police reports.
The scammers then directed users to download remote access software like AnyDesk and TeamViewer, claiming these were necessary for their initial investment and to access investment coaching. Once installed, victims were asked to log in or share banking details, allowing the fraudsters to withdraw funds under the guise of fees or investment deposits.
One victim disclosed losing nearly $900,000 to the scam, according to police information.
Authorities urge residents to reach out to law enforcement if they have been ensnared in the investment scam.
This scam is part of a series of investment fraud cases observed in Edmonton this year, with victims collectively losing over $12 million. Authorities are presently investigating 172 scam instances occurring between Jan. 1 and Nov. 26.
Police emphasize that investment scams often lure victims with promises of quick profits. Tactics include convincing individuals to transfer funds electronically, granting remote access to their devices, or creating cryptocurrency accounts to transfer money.
Authorities recommend refraining from granting remote access to personal computers when encountering investment-related ads, particularly those involving cryptocurrency. It is also advised to independently research investment opportunities, seek advice from a financial advisor, and remain cautious of promises of high returns.
“If you suspect a scam or come across an opportunity that sounds too good to be true, it likely is,” cautioned Semotiuk.
