North Bay Police Warning - Investment Scams

The North Bay Police Service is warning the public about investment scams that are circulating online.

The North Bay Police Service has received several reports of cryptocurrency-related investment scams stemming from AI-generated “Deep Fakes.”A Deep Fake is a manipulated video or image that uses artificial intelligence to alter or generate images, videos or audio. This technology can alter a person’s face, voice or actions in a video to make it appear as if they said or did something they never did.

The reported investment scams often use Deep Fakes to fraudulently present a successful or wealthy individual in an advertisement endorsing a product, service, or investment that they are not in reality linked to.

Protect Yourself

The North Bay Police Service would like to remind the community of several fraud prevention tips in relation to Deep Fakes and fraud in general:

• Be skeptical of unusual requests – If you receive a video or audio message asking for money, sensitive information, or urgent action, verify it through a secondary channel (e.g. call the person directly).
• Don’t invest your money unless you have done your due diligence.
• Be aware that fraudsters can advertise fake businesses or investment platforms on search engines like Google and pay to have their ads at the top of a search. Just because it’s on Google or similar search engines doesn’t prove it is legitimate.
• NEVER allow remote access to your computer.Fraudsters often request victims click a link or download software to give them access to their computers. If you do this, banking and other personal information can be easily compromised.
• Fraudsters play on your emotions (e.g. panic, fear, greed, sympathy/compassion, love/romance) and will pressure you to make decisions without thinking them over. This is a major red flag.
• If you receive unsolicited calls, be wary that it is likely fraud.
• If it seems too good to be true, it is!
• TAKE 5, TELL 2. Before making any decision, take 5 minutes to think it over and tell two people you trust.If you do this, in most cases, you’ll realize it ‘s a fraud.
• Educate elderly family members about various fraud schemes as they’re often the targets of fraud.

If you are a victim of fraud or have information about this or similar scams, report it to the North Bay Police Service at (705)-497-5555 or the Canadian Anti-Fraud Centre at 1-888-495-8501.