$1.9 million scammed from Edmontonians using fake AI video of Trudeau, Elon Musk

The holidays are a time when the generous and the grinches come out.

Scammers have made out with millions from Edmontonians this year. Police are sending warning alarms to another one, that uses a lot of technology.

“Now I can state that this platform is reliable and has indeed brought substantial profits to thousands of Canadians.”

This fake video posted to social media appears to show Prime Minister Justin Trudeau endorsing an investment into a cryptocurrency. Elon Musk also appears endorsing the same supposed product.

“All you need to do is invest $350 and start earning profits from the first month.”

Artificial intelligence was used to make it look like Trudeau and Musk are promoting an investment platform and encouraging you to register.

Edmonton police say if you click a link and put in your phone number, you’ll get a call from an alleged “advisor” or “specialist” again guaranteeing large profits for a small fee.

The person then tells you to download software that gives them remote access to your computer and asks you to give up personal banking information.

Fifteen victims of this scam have been reported to police totalling $1.9 million. One victim was reported to have lost $900,000.

“For these fraudsters, it’s a low-risk endeavour to make high profits with minimal work involved,” said Detective Trevor Semotiuk, with the EPS Financial Crimes Section.

This EPS detective says larger organized crime groups outside of canada are largely responsible for this deception.

“They’re just playing off of basic human emotions or a chance to make easy money quickly,” Semotiuk added.

The Alberta Securities Commission says it’s important people pause if they see one of those videos and not get too deep in the hype.

“Pressure, pressure, pressure. Get in now, guaranteed returns. That’s the language almost all of them use,” said Hilary McMeekin, Alberta Securities Commission.

“Stop and just think about this. And do a bit of homework before you dive in.”

2024 was a lucrative year for scammers in Edmonton. Almost $13 million was stolen through various ways this year. Detective Semotiuk says that the dollar figure is only going up.

Both EPS and the Alberta Securities Commission say you can avoid getting duped by doing your own research, seeing if the company is registered, a vague company description, and the golden rule, “if it sounds too good to be true, it probably is.”

It’s also important to be open with friends and family about getting suspicious messages and reporting it.

“There’s nothing compelling you to take action right away,” said Semotiuk

McMeekin adding, “You’re not alone. We want to know about these things.”