Canadian consumers are being targeted by Instagram ads impersonating banks like EQ Bank and BMO, using AI deepfakes and lookalike domains to facilitate phishing and investment scams. Platforms are actively investigating and working to remove these fraudulent campaigns to protect users. #DeepfakeFraud #BankImpersonation
Keypoints
- Impersonating bank brands with lookalike domains and false advertising on Instagram.
- Using AI-generated deepfake videos to scam users with fake investment advice from BMO Belski.
- Scammers operate fake Facebook pages that are repurposed from other assets to seem more credible.
- Platforms like Meta and the affected banks are working to investigate and remove these fraudulent ads.
- Users are advised to scrutinize social media ads and verify the legitimacy of websites before sharing sensitive information.