The Perfect Scam How AI is Making “Pump and Dump” Investment Scams Easy for Criminals
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Jun 27, 2025 Ryan Snover, managing partner at Aristia, dives into the deceptive world of 'pump and dump' scams. He explains how scammers exploit social media and AI technology to mislead investors like Karen, who loses significant savings through a dubious WhatsApp group. The discussion reveals the emotional and financial toll on victims. Snover also highlights the risks posed by celebrity endorsements and shares crucial tips on navigating the murky waters of investing, emphasizing the need for vigilance and knowledge in the digital age.
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Karen's Careful Investment Start
- Karen, a self-employed consultant, built her retirement savings one share at a time with cautious investing.
- She carefully balanced her investments without engaging in options or risky trades.
Bert's Friendly Personal Touch
- Karen entered a WhatsApp investor chat room where she met Bert who shared a personal scam story.
- She felt a connection as Bert mentioned living near her friend's area in London, creating false trust.
VIP Room with Personal Connection
- Karen was introduced to a VIP chat room by Bert where Ava shared successful investment stories.
- They exchanged personal pictures and friendly banter, blending social warmth with financial tips.