Criminals are increasingly turning to deepfake technology to promote fraudulent investment schemes. In recent cases, cybercriminals have created highly convincing videos that falsely show the Chief Minister of the Isle of Man endorsing investment opportunities.
These scams are often framed as interviews with local news organisations, designed to mimic legitimate broadcasts and lend false credibility to the claims. The aim is clear: to trick individuals into handing over money for fake investments that appear to be backed by public figures or trusted media.
This warning comes in the wake of £1.2 million that was lost to investment scams on the Isle of Man in 2024 alone.
We wish to remind Isle of Man residents and organisations that many of these 'investment' opportunities advertised online and social media are nothing more than scams. These operations will often utilise professional looking websites showing significant gains. However, these do not exist and are a ploy to invite further funds being transferred.
What Are Deepfakes?
Deepfakes use artificial intelligence to generate realistic but fake audio and video content. By mimicking someone's voice, face, and expressions, scammers can convincingly impersonate politicians, celebrities, and even friends or colleagues.
The below video is an example how scammers use deepfake technology to manipulate existing videos.
How to Protect Yourself:
- Treat unsolicited investment opportunities with caution, especially if promoted via social media or online ads.
- Verify any claims of government or media involvement through official Isle of Man Government or news websites.
- Never rush into a financial decision — scammers often create a sense of urgency to pressure victims.
We are working with platforms to remove fake content and disrupt scam operations. However, public awareness remains the strongest defence.
If you believe you’ve encountered a scam or deepfake video, report it to us here