Oregon warns about rising sophisticated AI scams, Here’s some tips to stay safe

OREGON (KTVZ) -- The Oregon Division of Financial Regulation issued a warning alerting consumers that scammers are increasingly using artificial intelligence tools to craft convincing investment pitches, websites, videos and messages.

While AI technology can assist in learning about financial products, state regulators warned that fraudsters are using these tools to make investment schemes appear legitimate and reach potential victims more easily.

State officials identified several common AI-driven schemes, including deepfakes that impersonate celebrities, financial professionals or family members to promote unrealistic returns. Scammers also use voice-cloning technology for fraudulent phone calls and messages, alongside AI-generated images and chatbots used in romance scams to build relationships before soliciting funds.

Additionally, fraudsters advertise fake AI cryptocurrency trading systems that direct victims to fraudulent online platforms. These platforms display fabricated account balances and artificial profits to pressure investors into sending additional funds in cryptocurrency.

Regulators advised consumers to watch for red flags such as unsolicited investment offers, unusual facial or body movements in promotional videos, awkward voice messages, requests for cryptocurrency payments, reluctance to verify credentials and websites designed to mimic legitimate financial institutions.

To guard against fraud, the division recommends that investors pause before making financial decisions, confirm that individuals or companies offering investments are properly registered and conduct independent research rather than relying on AI tools or unsolicited pitches.

TK Keen serves as the Oregon Insurance Commissioner and administrator for the Division of Financial Regulation. “Artificial intelligence may make a scam look more sophisticated, but the warning signs of investment fraud remain familiar,” Keen said. “Consumers should slow down, independently verify who they are dealing with and never let pressure or fear of missing out drive an investment decision. Always remember that if the investment sounds too good to be true, it probably is.”

The division also cautioned consumers against secondary recovery scams, where fraudulent operators target individuals who have already lost money by offering fake assistance to retrieve funds. Suspected investment fraud can be reported to the Division of Financial Regulation by phone at 1-888-877-4894 or by email at dfr.financialserviceshelp@dcbs.oregon.gov, as well as through the Oregon Department of Justice or the Federal Trade Commission.