European Insurance and Occupational Pensions Authority joins other ESAs in publishing consumer factsheets on crypto scams and AI-enabled online fraud

The European Insurance and Occupational Pensions Authority, together with the European Banking Authority and the European Securities and Markets Authority, published two consumer factsheets to help the public protect themselves from crypto-related scams and other online frauds, including those increasingly enabled by artificial intelligence. The factsheets describe how frauds and scams have become more sophisticated and harder to detect, including through AI-generated voices or videos used for impersonation. They set out practical guidance and real-world examples covering common tactics such as phishing, impersonation, investment scams and Ponzi schemes, and highlight potential harms including financial loss and identity theft. Preventive steps include not sharing personal or banking information, pausing before acting, and verifying the source of messages. To improve accessibility, the factsheets are to be translated into all official EU languages and reproduced by national authorities. They were developed under the ESAs’ mandate in Article 9(1)(b) of their founding regulations on promoting transparency and coordinating financial literacy and education initiatives.