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Scammers use generative AI to create vast networks of deepfake websites and endorsements. Know how to check if an investment is real.
Why AI investment scams are hard to spot
Artificial intelligence (AI) is helping scammers create investment scams that look like the real thing. They can quickly create fake news articles, reviews, websites, YouTube reviews and social media posts. These scams can look professional and convincing.
Scammers know many people research an investment before handing over money. That's why they create fake information designed to appear in search results, reviews and AI-generated answers. They may also use deepfake images or videos of celebrities, business leaders and politicians to make an investment seem trustworthy.
A quick online search is not enough to tell if an investment is genuine and if those claiming to offer it are licensed.
Artificial intelligence (AI) is super-charging online scams. In the 2026/26 financial year, ASIC removed more than 19,400 online scams – up 182% on the previous year - including fake websites, social media ads, phishing scams and cryptocurrency investment scams.
Explore our journey below. It’s a fictitious example of how an AI-powered investment scam works and the warning signs to look for.
Social proof can build trust
Many people think they’d spot an investment scam straight away. But scammers know what people look for when checking an investment. That's why they create polished websites, familiar branding, convincing testimonials – sometimes involving deepfake celebrities - and other content designed to make the investment appear genuine.
ASIC warns that Australians should be especially cautious if they see a celebrity or other well-known Australian promoting an investment opportunity online!
“The presence of polished content, familiar branding or convincing testimonials does not mean an investment is legitimate.
‘AI is making investment scams more convincing and harder to detect. A simple online search is not enough to verify whether an opportunity is legitimate.
‘Before investing, consumers should verify website addresses, check against trusted government sources whether a person or company is licensed, and being wary urgent calls to act.’
ASIC Chair Sarah Court
Stop. Check. Protect
Investment scams are serious crimes and scammers continue to evolve their practices. It’s important to know that anyone can be a victim.
Before you trust anyone with your money:
Stop – use ASIC's Professional Registers Search to match with the investment, person or company and make sure they’re licensed with ASIC to perform a service. Be sure to check the details of what they are licensed to do, such as provide advice or offer investments.
Check – that the company, business or website is not on the Moneysmart Investor Alert List. This is a list of suspicious companies, businesses and websites. It’s updated daily and there are more than 4,000 entries.
Protect – act quickly if something feels wrong and know what to do if you've been scammed.
Read our detailed ‘check before you invest’ information.
Report all scams to Scamwatch
Act fast if you suspect a scam
Scamwatch, run by the National Anti-Scam Centre (NASC), collates information about all scam types. They use this information to warn and protect the public. Scamwatch also sends information to other agencies, including ASIC and ReportCyber, to help stop scammers. Report all scams, including investment scams, to Scamwatch.
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