COBOURG (May 1, 2025) — Cobourg Police Service reminds residents to protect themselves against fraud after a recent online investment scam using artificial intelligence (AI) resulted in a loss for a Cobourg resident.
In the recently reported online scam, police were contacted by a resident who reported being defrauded over $300. The resident reported that after observing an ad on Facebook utilizing a celebrity to endorse the investment opportunity, he contacted the company and provided personal and financial details. Shortly thereafter, the resident noted a charge to his credit card. Luckily, he recognized the scam and contacted his bank to cancel his cards.
The recent report highlights how criminals have adapted their tactics using AI. Members of the public are advised to be cautious when it comes to online investment scams. Stop and take the time to do additional research, talk to trusted individuals and follow safety tips to help prevent becoming a victim of investment fraud:
- Do not engage in unsolicited investment opportunities seen online.
- Never provide personal information online or over the phone to unknown persons or companies.
- Be cautious of investments promising higher than expected rates of return. If something seems too good to be true, it probably is.
- Do not download unknown programs on your computer or allow unknown persons to access your computer.
- Ensure you are investing with a legitimate investment company. Conduct research and make a follow-up phone call to the company, as some fraudsters will use the name of a legitimate company.
If you have been a victim of an investment scam and suffered a financial loss, please report the incident to the police. If you were contacted about this type of scam but did not experience a financial loss, report it to the police and contact the Canadian Anti-Fraud Centre at 1-888-495-8501 or visit www.antifraudcentre-centreantifraude.ca. Please visit the Canadian Anti-Fraud Centre website for a list of known scams and learn more about how to protect yourself.