£24.3 million stolen. More than 1,300 reports. Nearly 80% involving people aged 60 or over.

Those are the latest figures from Report Fraud on AI-enabled investment fraud between January and August 2026.

Criminals are using deepfake videos and images to create apparently convincing endorsements from public figures and trusted financial institutions, drawing victims into fraudulent investment schemes.

The technology may be changing, but much of the fraud methodology remains familiar: establish credibility, make contact, show apparent returns, encourage larger investments and create further barriers when the victim tries to withdraw their money.

Perhaps that means our prevention message needs to evolve too.

Rather than relying on people to spot a deepfake, we increasingly need to encourage them to verify the underlying investment independently, including checking the Financial Conduct Authority's Firm Checker before parting with money.

Don’t trust the endorsement. Verify the investment.

https://www.cityoflondon.police.uk/news/city-of-london/news/2026/october/report-fraud-warning-after-24.3-million-stolen-through-ai-enabled-investment-endorsement-schemes/