The Securities and Exchange Commission (SEC) has issued a warning to the public to remain vigilant against a growing wave of fraudulent investment schemes that are leveraging artificial intelligence and impersonating public figures to deceive unsuspecting individuals.
SEC emphasized that these schemes are not licensed and are designed purely to defraud the investing public.
The Commission noted a disturbing trend in which scammers use advanced AI tools to mimic voices, videos, and facial features of trusted public officials and prominent personalities.
These manipulated audio-visual materials are widely circulated on social media platforms, creating a false impression of endorsement and legitimacy.
According to SEC, many of these fake investment promotions also misuse the images, names, or video clips of influential figures, including government officials, regulators, and business leaders without their knowledge or consent.
This tactic is meant to falsely boost the credibility of the schemes and lure more people into investing.
Additionally, SEC highlighted that these fraudulent entities often operate anonymously on social media and through unverifiable websites or mobile applications.
They typically lack traceable physical addresses, license numbers, or known representatives, making it extremely difficult for victims to seek redress once defrauded.
The Commission warned that many of these scams promise unusually high returns within very short periods, an indication that they are too good to be true.
As such, the public is urged to avoid any scheme exhibiting these red flags and to conduct thorough due diligence before committing funds to any investment platform.
SEC assured the public that it is collaborating closely with law enforcement agencies to investigate and shut down these deceptive operations.
It reiterated its commitment to safeguarding investor interests and advised Ghanaians to report suspicious investment offers to the appropriate authorities.
“The General Public is hereby strongly advised not to engage with or invest in any scheme that shows any of the above features,” the Commission said.
