FATF Warns AI Is Making Investment Scams Harder to Detect

Investment scams are becoming harder to detect as criminal groups shift from large scam compounds to smaller operations using artificial intelligence (AI), according to Giles Thomson, president of the Financial Action Task Force (FATF).

Thomson told the Financial Times that criminals, particularly in Southeast Asia, are increasingly using AI for impersonation, deepfake videos, fake websites and chatbots. These tools can make cryptocurrency fraud, investment scams and romance scams faster and more sophisticated.

AI Changes the Scam Model

Traditional scam compounds often involve large numbers of workers, but authorities are now seeing smaller groups using powerful servers and AI tools, Thomson said.

INTERPOL reported in March that AI-enabled fraud was estimated to be 4.5 times more profitable than non-AI-enhanced fraud. Its assessment also warned that agentic AI can autonomously support fraud campaigns from reconnaissance to ransom demands.

The FBI separately reported 22,364 AI-related complaints and more than $893 million in adjusted losses in 2025, highlighting the growing financial impact of AI-enabled fraud.

Regulators Face Impersonation Risks

AI-generated content can also make fake financial platforms and regulator impersonation harder to identify. ASIC Warns AI Is Creating Vast Networks of Investment Scams.

The FATF has made combating fraud a priority under its 2026–2028 UK presidency, with a roadmap focused on stronger cooperation and information sharing between authorities and the private sector.

What Investors Should Watch

Investors should independently verify a platform's legal entity, regulatory status, website and contact details, particularly when promotions or communications use AI-generated images, voices or videos.

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