Europe’s digital scam epidemic: How big tech profits from fraud

Thousands of Europeans are losing their savings to fake investment ads on Facebook, TikTok, and Instagram. These scams use AI-generated deepfakes of politicians and celebrities, like Germany’s defence minister Boris Pistorius or Irish presidential candidate Heather Humphreys, to sell get-rich-quick schemes. All this information is coming to light after a months-long investigation by Investigate Europe,…

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Thousands of Europeans are losing their savings to fake investment ads on Facebook, TikTok, and Instagram. These scams use AI-generated deepfakes of politicians and celebrities, like Germany’s defence minister Boris Pistorius or Irish presidential candidate Heather Humphreys, to sell get-rich-quick schemes.

All this information is coming to light after a months-long investigation by Investigate Europe, which uncovered how criminal networks are using AI, illegal call centres and social media ads to scam people across the continent.

So how do the scams work and what is Europe doing to prevent them?

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