Alleged AI-Generated Scam Uses Bank of Cyprus Branding to Solicit Investments
November 14, 2024
An alleged fraudulent online platform presented as the "Bank of Cyprus Trading AI Platform" was promoted using reportedly fabricated media, including a video that appeared to depict the Bank's CEO endorsing the service. The video reportedly used misleading branding, including the BBC logo, and promised unrealistic investment returns. The Bank of Cyprus publicly denied any affiliation and warned customers about the use of AI-generated content in the scam.
- Alleged deployer
- unknown-scammers, unidentified-scam-network
- Alleged developer
- unknown-deepfake-technology-developers, unknown-voice-cloning-technology-developers
- Alleged harmed parties
- prospective-investors-in-cyprus, panicos-nicolaou, general-public-of-cyprus, bbc, bank-of-cyprus-customers, bank-of-cyprus
Source
Data from the AI Incident Database (AIID). Cite this incident: https://incidentdatabase.ai/cite/1064
Data source
Incident data is from the AI Incident Database (AIID).
When citing the database as a whole, please use:
McGregor, S. (2021) Preventing Repeated Real World AI Failures by Cataloging Incidents: The AI Incident Database. In Proceedings of the Thirty-Third Annual Conference on Innovative Applications of Artificial Intelligence (IAAI-21). Virtual Conference.
Pre-print on arXiv · Database snapshots & citation guide
We use weekly snapshots of the AIID for stable reference. For the official suggested citation of a specific incident, use the “Cite this incident” link on each incident page.