The B.C. Securities Commission’s (BCSC) latest fraud prevention campaign, We’re Not All F**ked, came with a nearly two-minute music video including those words.
As fraudsters increasingly adopt artificial intelligence (AI) to cheat Canadians out of millions every year and worries grow that generative AI poses risks to financial institutions, the provincial regulator has taken a lighthearted approach to calling on investors to educate themselves about AI scams.
The whimsical video mentions several ways fraudsters use generative AI to fool victims, including honeypot scams that make victims fall in love with a fake online dating profile, or clone a trusted accountant or advisor’s voice.
“They can deepfake your accountant. And sound like my broker too,” the song goes. “Oh it’s all part of their trap. So you’ll invest in a bunch of crap.”
The video also includes humorous generative AI screw-ups like sprouting extra fingers on hands and giving mouths extra rows of teeth.
“You are the first line of defence. So it’s more important than ever that you pause, think critically and do your own research before investing,” Pamela McDonald, the BCSC’s director of communications and education, said in the release.