Austrian FMA reports record €19.6 million in investment fraud using AI chatbots and deepfakes in 2025
Austria's financial regulator reported 843 investment fraud cases totaling €19.6 million in 2025, a record high. Fraudsters used AI-powered chatbots, deepfake videos of celebrities, and WhatsApp groups to deceive investors into sending money to fake trading platforms.
What happened
In 2025, the Austrian Financial Market Authority (FMA) received reports of 843 investment fraud cases totaling €19.6 million, up from 853 cases worth €15.5 million in 2024.
Fraudsters lured investors into private WhatsApp groups via online advertising or deepfake videos featuring fabricated statements from celebrities. AI-powered chatbots in these groups simulated an active trading community while victims were privately pressured to invest on fraudulent platforms. Funds were routed to foreign accounts or cryptocurrency wallets.
Reported impact
The highest single loss reported was approximately €830,000. The FMA issued 97 warning notices against unauthorized service providers, mostly trading platforms.
Index analysis
Fraudsters operate anonymously with frequently changing group names and domain names, making attribution to specific operators difficult. Criminal activity has shifted from public websites to private social media channels, complicating regulatory monitoring and warning publication.
Governance controls
The FMA stated that reporting of fraudulent advertisements and fake profiles on social media platforms is possible but unreliable and time-consuming due to opaque and cumbersome procedures.
Classification
Sources and evidence
Sources not yet published
This record was researched and written by the Index from original reporting. Its sources are still being verified by an editor, and they are listed here once that check is complete. Until then the record carries no reviewer.