AI-powered chatbots used in sophisticated investment scams on messaging apps
Consumer advocacy group Codacons warned of increasingly sophisticated investment scams in Italy using AI chatbots on messaging apps that impersonate real people to build trust and manipulate users into sending money for fake cryptocurrency and trading investments.
What happened
Criminal organizations are deploying AI-powered chatbots on WhatsApp and Telegram to conduct sophisticated investment scams in Italy. The chatbots create realistic profiles with curated photographs and personal information, often impersonating young women living or working abroad, to establish trust with victims over extended conversations.
After building rapport, the chatbots propose investments in non-existent platforms, often involving cryptocurrency or online trading, promising easy returns. Victims are shown manipulated graphics and applications simulating capital growth, encouraging them to deposit increasing sums. When victims attempt to withdraw funds, fraudsters request additional payments for fees or account unlocking before disappearing entirely.
Reported impact
Codacons warned that users are being deceived into sending money to criminal networks operating thousands of simultaneous conversations through chatbots designed to mimic human interaction on messaging platforms.
Index analysis
The chatbots employ manipulation by building prolonged relationships of trust before introducing financial schemes, collecting personal information to tailor responses, and creating false evidence of investment growth through forged graphics and applications.
Governance controls
Codacons recommended that users avoid sharing personal or financial information with strangers online and report suspicious investment proposals. The organization provided contact details for assistance including email and WhatsApp support.
Classification
Sources and evidence
Sources not yet published
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