Criminals are using AI, including deepfakes videos and images, to endorse fraudulent investment schemes with the over 60s most impacted, new data has shown.

New Report Fraud data reveals that, between January and August 2026, criminals stole £24.3 million through fake investment schemes where artificial intelligence (AI), including deepfakes, was used to make a fraudulent offer more believable.

During this period, Report Fraud received more than 1,300 reports of AI enabled investment fraud, with people aged 60 or over accounting for nearly 80 per cent (1,033) of reports.