Nigeria, Sept. 29 -- The Securities and Exchange Commission (SEC) has raised a warning regarding a rise in fake investment scams in Nigeria that use artificial intelligence capabilities to defraud unknowing customers.

The public has been advised by the authority to remain alert and to stay away from websites promoting improbable profits via ostensibly AI-powered trading systems.



The SEC notes that some of these scams use deepfake films, algorithm-driven material, and phony celebrity endorsements to generate credibility illusions. CBEX, Silverkuun, and TOFRO were lately marked as unauthorized operators employing cutting-edge technology to mislead the public with manufactured claims of assured returns and zero-risk investments.



The...