Beware of the “Nomani” Scam: How to Spot and Avoid This AI-Driven Fraud

A new and alarming scam called Nomani (pronounced “No Money”) is making waves, combining the power of artificial intelligence (AI), malicious advertisements, and phishing emails to deceive unsuspecting victims.

What is the Nomani Scam?

Nomani scams rely on AI-generated videos that appear to show celebrities, politicians, or business leaders endorsing cryptocurrency investments. These hyper-realistic videos are designed to look like interviews, news broadcasts, or promotional materials. With AI technology, scammers can create convincing footage that mimics a person’s voice and appearance, making it difficult to tell the difference between real and fake.

Here’s how it works:

1. Deceptive Video Posts: The scam starts with a video of a famous personality promoting a “guaranteed” crypto investment. These videos often appear on social media, accompanied by professional graphics and compelling information.
2. Phishing Websites: Clicking on these ads or videos directs you to fraudulent websites designed to steal your personal information or infect your device with malware.
3. Fake Investment Managers: Victims are then contacted by so-called “investment managers” who guide them through transferring money to what they believe is a secure investment account. Unfortunately, the money goes straight to the scammers.
4. Double Scams: Some fraudsters even follow up by pretending to be law enforcement officials offering to recover the stolen funds – for an additional fee.

How to Protect Yourself from Nomani Scams

Understanding the red flags is key to avoiding these types of fraud:

• Low-Quality Videos: AI-generated videos are often blurry or low-resolution to hide technical glitches.
• Mismatched Audio and Video: Poorly synchronized audio or robotic-sounding voices can indicate the video is fake.
• Too-Good-to-Be-True Offers: Ads promising high returns with little or no risk are almost always scams. Remember: if it sounds too good to be true, it probably is.
• Malicious Links: Avoid clicking on links in unsolicited ads or messages. These may lead to phishing sites or install malware on your device. It is recommended to use antivirus software to protect your devices.

Stay Informed and Stay Safe

As scammers become more sophisticated, it’s essential to stay vigilant. By learning to spot the warning signs, you can protect yourself and your finances from falling into the hands of fraudsters.

For more information on identifying and avoiding scams like Nomani, visit cpb.bank/fraud.