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Avast: New Investment Scams Lure Victims On The Use Of Artificial Intelligence

Avast researchers have discovered a new type of scam that exploits the names and reputations of celebrities like entrepreneur Elon Musk to lure people into investing through a fake investment platform. The scammers lure their victims on the use of artificial intelligence, with the help of which the platform can supposedly trade on stock and cryptocurrency markets.

The scam is being spread through ads on Facebook and Instagram. Clicking on the ad takes the person to a website that often visually mimics well-known media outlets or websites. In the fictional text, celebrities present a revolutionary method to get rich quickly. The article then redirects the person to an investment portal that invites them to register and, in some cases, pay an entry fee.

"In recent weeks we have seen a big increase in scams that lure money from people under the pretext of easy investment. Scammers have traditionally relied on the credibility of celebrity names, companies and the media, but they are also now exploiting the popularity of artificial intelligence as a current trend," says Alexej Savchin, Senior Malware Analyst at Avast. "We advise people to be wary of offers that seem too good to be true, and only invest through vetted platforms."

Avast products have protected over 60,000 users globally from this scam since April, but the scam is also spreading in Australia, Canada, the UK, Mexico, Argentina, Spain, Germany, Norway and Czech Republic. Avast urges New Zealanders to remain alert, as scammers are likely to set their sites on our shores.

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