The Indiana Secretary of State’s Office is cautioning Hoosiers about a growing wave of financial scams in 2025, many of which are being fueled by advancements in artificial intelligence and increasingly sophisticated use of digital platforms.
The warning follows a report from the North American Securities Administrators Association (NASAA), which identifies a rise in fraudulent schemes that exploit social media, digital assets, and AI-generated content to deceive investors. The report outlines how bad actors are increasingly relying on platforms such as Facebook, X (formerly Twitter), Telegram, WhatsApp, TikTok, YouTube, and Instagram Reels to reach potential victims with polished, professional-looking content that creates a false sense of legitimacy.
Scammers are not only utilizing slick videos and graphics but are also taking advantage of deepfake technology—AI-generated videos and voice imitations of public figures—to perpetrate identity fraud and create convincing investment pitches. The use of AI has allowed these schemes to evolve, making it harder for individuals to identify common warning signs.
Indiana Secretary of State Diego Morales’ office is reportedly fielding a growing number of complaints related to tech-driven scams. State regulators say many of these schemes are orchestrated by unregistered individuals who operate outside the bounds of state oversight. The scams often promise high returns and attempt to pressure victims into making quick decisions without proper research.
The NASAA survey also highlights the continued threat of affinity and romance scams, where fraudsters build emotional connections or claim to share a common bond, such as religion, ethnicity, or professional affiliation, before convincing individuals to invest large sums. In many cases, these scammers disappear after draining victims’ finances, leaving little recourse for recovery.
Officials stress the importance of due diligence before committing to any investment. They urge investors to verify the registration of financial professionals and companies and to remain skeptical of unsolicited offers, particularly those originating from social media or messaging apps.
The Indiana Securities Division advises individuals to take time to ask questions, research thoroughly, and avoid investments that seem too good to be true. Those seeking guidance or wishing to report suspicious activity can contact the division at 317-232-6681.
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