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Investment fraud is becoming more digital – and more dangerous. According to the FMA, AI-supported fraud schemes caused damages of almost 20 million euros in 2025. Particular focus: fake WhatsApp groups and deepfake videos.
As artificial intelligence (AI) advances, financial fraud is also taking on increasingly creative forms. With AI-powered chatbots, deepfake videos, and fraudulent WhatsApp groups offering supposed investment tips, financial fraudsters are increasingly succeeding in fleecing investors. In 2025, 843 cases of fraud were reported to the Financial Market Authority (FMA), with damages amounting to €19.6 million, according to the FMA.
843 cases of fraud in the previous year: AI makes investment fraud more sophisticated
In 2024, there were slightly more cases of fraud (853), but the total loss amounted to only €15.5 million. “Investment fraudsters are not only becoming more innovative, but also more skilled, swindling ever-larger sums. The highest loss amounted to around €830,000,” the FMA writes in its press release. The supervisory authority issued 97 warnings about illegal providers last year.
Chatbots and fake communities on WhatsApp
According to the FMA, fraud via WhatsApp groups is a particular novelty. Deepfake videos featuring celebrities or online advertising are used to lure investors into a group where a chatbot pretends to be a community. At the same time, private chats are opened in which victims are then pressured to invest in fraudulent platforms or apps. The funds usually flow abroad. It is difficult to track such cases of fraud because the perpetrators can act anonymously, change group names frequently, and no company names or URLs are available. According to the FMA, reporting fraudulent advertisements or profiles on social media platforms is often a lengthy and unreliable process.
Warning signs: typos, quick profits, no risk
The supervisory authority advises investors not to accept group invitations or to be very critical and to pay attention to small signs such as typos. Promises such as high profits with low risk are also an indicator of fraud. If fraud is suspected, investors should use the reporting function of the respective platform and report the case to the FMA and Watchlist Internet, a website that publicly warns of current scams.
- source: vienna.at/picture: pixabay.com
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