Deepfake Investment Scams Target Retail Investors via WhatsApp

• •Deepfake ads and fake analysts are used to manipulate retail investors.
• •Victims are directed to WhatsApp groups for coordinated trading.
• •Investment scams became the largest fraud-loss category in 2025.

Investment fraud is increasingly utilizing deepfake advertisements and impersonated financial analysts to lure retail investors into manipulated stock trades. Scammers are directing victims to WhatsApp groups where they are encouraged to make real trades through legitimate brokerages. Once the stock prices are artificially inflated, the scammers exit, leaving investors with significant losses. In 2025, investment scams became the largest category of fraud losses, highlighting the growing scale of this issue. The method exploits the challenge banks face in blocking payments that customers willingly authorize. This coordinated effort has raised alarms among cybersecurity experts and financial regulators alike, as it operates without the need for hacked accounts or stolen credentials.