The Canadian Securities Administrators (CSA) issued an investor alert urging Canadians to speak with older adults about the growing use of artificial intelligence and social media to promote deceptive investment scams, timed to World Elder Abuse Awareness Day on June 15, 2025. The CSA flagged that fraudsters can use AI generated imagery, video and voices to make ads and online profiles appear legitimate, often pushing fake opportunities through social media advertising and relationships formed on dating or friendship apps. Key warnings include avoiding online investments that claim celebrity or political endorsements or promise easy returns, treating online “investment groups” with caution when communications are moved into private chats on WhatsApp, Telegram or Discord, and being wary of new online connections that probe finances or exploit fears. The alert also highlights that Canadian investment firms and their advisors must ask clients to name a Trusted Contact Person, and reminds investors to verify registration with provincial or territorial securities regulators, including via AreTheyRegistered.ca, while not relying on AI manipulable calls or video meetings and not sending money to anyone whose identity cannot be confidently validated. The CSA encouraged investors to build digital literacy about AI enabled fraud, use its investor tools and resources, and contact their local securities regulator if they suspect a scam or victimization.

Original source View in tracker