Description: Citizens in Cyprus reported being targeted by an alleged investment scam involving purported AI-manipulated videos that appeared to depict government officials endorsing financial platforms. The Cyprus Consumers Association stated that several individuals suffered significant financial losses after being misled by the videos, which circulated via social media and messaging apps. Authorities are investigating, and the association has warned of potential cross-border spread of the scheme.
Editor Notes: See also Incident 1064, which pertains to an earlier alleged deepfake scam incident in Cyprus. Timeline note: Activity for this incident reportedly can be traced back to January 2025, with public reporting on it appearing on 05/12/2025 (which is what this incident ID takes as its date).
Entities
View all entitiesAlleged: Unknown deepfake technology developers developed an AI system deployed by Unknown scammers, which harmed Haris Georgiades , General public of Cyprus and Averof Neofytou.
Alleged implicated AI systems: Various social media platforms and Unknown deepfake technology
Incident Stats
Risk Subdomain
A further 23 subdomains create an accessible and understandable classification of hazards and harms associated with AI
4.3. Fraud, scams, and targeted manipulation
Risk Domain
The Domain Taxonomy of AI Risks classifies risks into seven AI risk domains: (1) Discrimination & toxicity, (2) Privacy & security, (3) Misinformation, (4) Malicious actors & misuse, (5) Human-computer interaction, (6) Socioeconomic & environmental harms, and (7) AI system safety, failures & limitations.
- Malicious Actors & Misuse
Entity
Which, if any, entity is presented as the main cause of the risk
Human
Timing
The stage in the AI lifecycle at which the risk is presented as occurring
Post-deployment
Intent
Whether the risk is presented as occurring as an expected or unexpected outcome from pursuing a goal
Intentional
Incident Reports
Reports Timeline
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Citizens who fall victim to investment fraud through manipulated videos of politicians encouraging investments are receiving threats when they discover the deception and demand explanations, according to the Cyprus Consumers Association.
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Variants
A "variant" is an AI incident similar to a known case—it has the same causes, harms, and AI system. Instead of listing it separately, we group it under the first reported incident. Unlike other incidents, variants do not need to have been reported outside the AIID. Learn more from the research paper.
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