Cybercriminals are increasingly cloning trusted news websites, including The Guardian and the BBC, to trick readers into investing in fake cryptocurrency and stock trading schemes.
According to The Guardian, fraudsters are creating near-identical copies of legitimate news websites and publishing fabricated stories featuring well-known public figures to make fraudulent investment opportunities appear credible.
One recent scam falsely claimed that British billionaire Sir Jim Ratcliffe stormed out of a BBC interview after details of his personal finances were revealed. The fake article alleged he had been earning huge profits through a secret investment platform and urged readers to click a link to discover the opportunity.
The story was entirely fabricated.
Instead of directing users to a legitimate investment service, the link led victims to a cloned trading platform where they were asked to provide personal information. Shortly afterwards, scammers contacted victims by phone, encouraging them to invest in non-existent cryptocurrency or stock trading schemes.
AI making scams more convincing
Experts warn that generative artificial intelligence has made these scams far more sophisticated.
Rather than producing poorly designed phishing websites, cybercriminals can now generate professional-looking articles, realistic images and convincing layouts that closely resemble those of reputable news organisations.
The Guardian said similar scams have also falsely linked financial commentator Martin Lewis and broadcaster Sir David Attenborough to fake investment platforms using AI-generated articles and images.
Researchers at Full Fact found that one fake image used in the Ratcliffe scam even contained Google's SynthID watermark, indicating it had been generated using Google's AI image creation tools.
How to protect yourself
Security experts advise users to remain cautious when encountering investment stories online.
Some warning signs include:
- Extremely sensational or exaggerated headlines.
- Articles promising guaranteed or unusually high investment returns.
- Pressure to invest immediately through embedded links.
- Website addresses that differ slightly from official news websites.
Experts recommend verifying website URLs, avoiding investment links shared through social media and remembering that legitimate news organisations report on financial products—they do not encourage readers to invest through embedded promotional links.
The Guardian says it is working with UK authorities and other media organisations to combat the spread of fraudulent websites, while cryptocurrency exchange Kraken has also warned users that any website guaranteeing profits while using its branding should be treated as suspicious.
As AI-generated scams become increasingly convincing, cybersecurity experts say readers should no longer rely solely on familiar logos or website designs when assessing whether online content is genuine.
