Investing safely in the age of AI

Investing safely in the age of AI

AI is giving scammers a powerful new tool for spreading misleading investment information: deepfakes. 

As the FMA(1) described them in a recent warning, these are “videos, images or audio created using artificial intelligence (AI) that are designed to look or sound real. They can copy a person’s face, voice and mannerisms, making it appear as though they’re saying or doing things they never did.”

This isn’t a hypothetical future problem. Investment scams using deepfakes are happening right now, all over the world, New Zealand included.

An old scam, with a convincing new face

Investment scams aren’t new. What’s changed is how credible AI can make them look.

The FMA has warned that scammers are using this technology to impersonate New Zealand politicians, journalists, celebrities, financial commentators and business leaders, promoting fraudulent investment opportunities through social media(2).

The goal is always the same: borrow someone else’s credibility to earn your trust.

And the scale is worth pausing on. In April 2026, the FMA reported finding 110 advertisements linked to a single investment scam in one 24-hour period(3). Since the start of March 2026, it had flagged more than 190 fake trading-platform websites for removal.

How these scams work

Today’s investment scams can look a lot more polished than the badly written emails of yesteryear. 

You might see a professional-looking social media ad featuring someone you recognise. Clicking it takes you to what looks like a legitimate news article or investment website. From there, you’re encouraged to hand over your contact details or join a WhatsApp group. Someone posing as an investment professional gets in touch. You make a small initial investment and get access to an online platform.

Then you watch your investment grow. 

Except the numbers on the screen are just a simulation. Those apparent returns exist to build your confidence and draw larger deposits out of you. When you eventually try to withdraw, you may be asked for additional fees, or find out that the money was never invested at all.

£250,000 lost after one fake endorsement

A recent case shows just how far this can go. 

In September 2026, the BBC reported that a person in Northern Ireland had lost £250,000 after encountering an AI-generated investment advertisement featuring what appeared to be a well-known figure from the financial sector.(4)

The victim started with a relatively small amount. Scammers then made contact through WhatsApp, gradually built trust and encouraged further payments. According to police, they eventually persuaded the victim to borrow money to continue investing.

It’s an extreme example. But the starting point was remarkably ordinary: an investment ad featuring someone who looked trustworthy.

Can you spot a deepfake?

The FMA recommends(1) looking for tell-tale signs like:

  • unnatural facial expressions
  • lip movements out of sync with the audio
  • unusual lighting
  • distorted hands
  • strange-looking text
  • a voice that sounds slightly off.

But AI is improving quickly, and those clues won’t stay reliable forever. So make sure you also verify the investment itself. 

Does the company exist? Who is behind it? Can you independently find its website (via Google) without clicking the link provided? Has the FMA issued a warning about it?

A few places worth checking:

  • FMA Warnings and Alerts – Search for the company, platform or person promoting the investment. It may not be exhaustive, but it’s a good starting point.
  • Financial Service Providers Register (FSPR) – Check whether a New Zealand financial services business is registered, what services it is registered for and, where relevant, whether it is licensed.
  • Netsafe – Netsafe has practical tools and guidance to help you check suspicious websites, report scams and get support if you think you’ve been targeted.
  • FMA’s Inside a Scam resources – Guides covering common investment scams, including what to look for and what to do if something goes wrong.

Before you invest, take another look

Just because an investment doesn’t appear on a warning list doesn’t mean it’s legitimate. New scams, websites and identities appear constantly, so a clean search shouldn’t be the end of your checks.

Whether the endorsement is real or fake, someone else’s confidence in an investment isn’t a substitute for doing your own homework.

Slow down. Check the source. Understand the investment. And don’t mistake a convincing endorsement for evidence that an opportunity is legitimate. 

If you’re considering an investment and want another perspective, talk to one of our Invest Link advisers. We can help you look past the pitch.

Sources: 

1) Financial Markets Authority (FMA) – Deepfakes (May 2026)

2) Financial Markets Authority (FMA) – Surge of impersonator social media investment scams prompts FMA warning updates (August 2025)

3) Financial Markets Authority (FMA) – FMA warns of fraudulent trading platforms using fake news articles to entice investors (April 2026)

4) BBC News – Victim loses £250k after scammers use AI video of ‘well-known’ celebrity (September 2026)

Disclaimer: The information provided in this article is intended for general informational purposes only and does not constitute financial advice. Every individual’s financial situation is unique, and financial decisions should be made based on your specific circumstances and goals. We recommend consulting with a qualified financial adviser before making any investment, insurance, or mortgage-related decisions. 

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