The Commodity Futures Trading Commission’s Office of Customer Education and Outreach has published a customer advisory warning that generative artificial intelligence is making it easier for fraudsters to create convincing scams targeting retail market participants. The advisory describes the use of AI to generate fake images, voices, videos, live-stream video chats, social media profiles and malicious websites designed to resemble legitimate financial trading platforms. It also highlights AI-enabled creation of fraudulent identification materials and forged government or financial documents, and notes an FBI public service announcement warning about AI-driven fraud, including “relationship investment” scams. Recommended protective steps include strengthening social media privacy settings and keeping personal or sensitive information private, particularly when dealing with people only known online or callers using unrecognized phone numbers.

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