News Story

A victim of fraud in Northern Ireland has lost £250,000 to a “sophisticated investment” scam involving an AI generated video.

The video featured a well-known personality from the financial sector and promoted an investment opportunity that claimed significant returns.

After initially investing a relatively small amount, the victim was contacted through WhatsApp and encouraged to make further payments, amounting to £250,000.

The fraudsters subsequently persuaded the victim to create multiple online accounts and obtained remote access to a computer under the guise of assisting with the investment.

As the fraud progressed, the victim was encouraged to borrow money to continue investing.

The fraudsters also persuaded the victim that further payments were required before money supposedly held in the investment could be released.

A PSNI spokesperson described the scheme as being “sophisticated and substantial” in which criminals gradually gained the victim’s trust before encouraging increasingly significant payments.

They said: “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.

“Please be particularly cautious if you are contacted through messaging services and encouraged to transfer money, open additional accounts, borrow to invest, allow somebody remote access to your computer or make further payments in order to release an investment.

“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.”

PSNI’s Superintendent Joanne Gibson, chair of the Scamwise Partnership, urged members of the public to stop and assess any financial activity.

“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,” she said.

“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.”