Description: Scammers used AI tools to clone the broker Exante and defraud at least one U.S. victim by registering a JPMorgan Chase account and replicating Exante’s trading interface. AI-generated fake documents, deepfakes, and cloned websites enabled the scheme. Exante, which does not operate in the U.S., confirmed the fraud and filed reports with multiple U.S. agencies.
Editor Notes: While generative AI–produced identity documents were not explicitly confirmed in this case, their use is consistent with reported capabilities and plausibly supported the creation of financial infrastructure. This incident report treats them as a likely—but not definitively verified—component of the broader scam operation. See also Incident 1018, "OpenAI's 4o Model Reportedly Enables Fraudulent Document Generation."
Entities
View all entitiesAlleged: Unknown generative AI developers and OpenAI developed an AI system deployed by scammers , Fraudsters and Scammers cloning Exante, which harmed Individual investors , Exante and JPMorgan Chase.
Alleged implicated AI systems: ChatGPT 4o , JPMorgan Chase banking systems and Cloned Exante web interface
Incident Stats
Incident ID
1019
Report Count
2
Incident Date
2025-04-10
Editors
Daniel Atherton
Incident Reports
Reports Timeline
- "Regular" clones are so 2023: With AI-generated passports, deepfakes and websites, fraudsters are running sophisticated, large-scale, ultra-realistic scams.
- "It's a speed game", said Exante's Head of Compliance, "You need AI tools to copy …
AI has empowered fraudsters to sidestep anti-spoofing checks and voice verification, allowing them to produce counterfeit identification and financial documents remarkably quickly. Their methods have become increasingly inventive as generat…
Variants
A "variant" is an incident that shares the same causative factors, produces similar harms, and involves the same intelligent systems as a known AI incident. Rather than index variants as entirely separate incidents, we list variations of incidents under the first similar incident submitted to the database. Unlike other submission types to the incident database, variants are not required to have reporting in evidence external to the Incident Database. Learn more from the research paper.
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