The fraudulent Nomani investment scheme has surged by 62 percent as it expands its reach from Facebook to platforms like YouTube. Cybersecurity firm ESET has blocked over 64,000 malicious URLs related to the scam this year, with the highest activity concentrated in countries such as Czechia, Japan, and Spain.
The Nomani scam utilizes social media malvertising and artificial intelligence to lure victims into non-existent investment opportunities that promise high returns. Initially identified late last year, the scheme uses branded posts and AI-generated video testimonials to establish a sense of legitimacy. Once a user is hooked, they are directed to fraudulent platforms where they are encouraged to deposit funds into products that do not actually exist.
When victims eventually attempt to withdraw their supposed profits, the fraudsters escalate their tactics by demanding additional fees or sensitive personal data. Targets are often asked to provide copies of their identification and credit card details, leading to further financial exploitation. This pattern follows the typical structure of investment fraud where the ultimate objective is the total theft of the victim's assets.
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The deception frequently continues even after the initial theft through secondary recovery scams. Fraudsters target the same victims using advertisements that impersonate international law enforcement agencies like Europol or INTERPOL. These ads claim to help individuals recover their lost money, but they are simply another layer of the scam designed to trick victims into paying even more money for non-existent recovery services.
Technological advancements have made the scam increasingly difficult to detect as the creators have upgraded their AI-generated content. Recent deepfakes of public figures feature higher resolution and more natural movements, significantly improving the synchronization of audio and video. These realistic digital puppets serve as the initial hook, making it harder for the average social media user to distinguish between a genuine endorsement and a fabricated one.
To further enhance their credibility, the scammers frequently exploit current events and local news narratives. In some regions, they have published fake news articles claiming that national governments are successfully using their cryptocurrency platforms to generate wealth. By leveraging the names of trusted officials and topical public discourse, the campaign successfully creates a false sense of urgency and security for prospective targets.
Source: Nomani Investment Scam Surges Using AI Deepfake Ads On Social Media