Brian Belski, chief investment strategist at Bank of Montreal, recently warned followers about imposters using fake social media accounts to scam investors. Utilizing hyper-realistic AI-generated videos, these scammers lure individuals to join investment groups on WhatsApp, promising stock picks and market insights. Simultaneously, economist David Rosenberg reported that similar scams, using his identity, led to over $1 million in losses for investors. As these frauds proliferate, discussions arise around the accountability of social media platforms and law enforcement in combating such scams.
Mr. Belski highlighted,
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