Alleged AI-Generated Clone of Exante Brokerage Used to Defraud U.S. Investor via JPMorgan Account

April 10, 2025

Scammers misused AI tools to clone the legitimate broker Exante, defrauding at least one U.S. investor by registering a JPMorgan Chase account and replicating Exante’s trading interface. The scam relied on AI-generated fake documents, deepfakes, and cloned websites. The real Exante, not operating in the U.S., confirmed the fraud and reported it to multiple U.S. agencies.

This incident underscores the importance of responsible AI practices and AI governance to prevent such fraudulent activities and ensure safe and secure AI transactions. HISPI Project Cerebellum TAIM invites you to get involved in governing AI practices, mapping incidents like this one, measuring their impact, and managing safeguards for trustworthy AI.

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Matched TAIM controls

Suggested mapping from embedding similarity (not a formal assessment). Browse all TAIM controls

GOVERN 2.2 — similarity 0.643, rank 1. TAIM detail and related incidents →
MAP 4.2 — similarity 0.641, rank 2. TAIM detail and related incidents →
MAP 4.1 — similarity 0.633, rank 3. TAIM detail and related incidents →

Alleged deployer: scammers-cloning-exante, unknown-scammers
Alleged developer: unknown-generative-ai-developers, openai
Alleged harmed parties: individual-investors, exante, jpmorgan-chase

Source

Data from the AI Incident Database (AIID). Cite this incident: https://incidentdatabase.ai/cite/1019

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.