OKLAHOMA DEPARTMENT OF SECURITIES / From the desk of Melanie Hall
By Melanie Hall,
Administrator, Oklahoma Department of Securities
After a long day of work and responsibility, many of us unwind the same way, by scrolling through our phones. Maybe you’re catching up on friends’ social media posts, checking sports scores or browsing headlines. Then suddenly, a video grabs your attention. A polished CEO appears on screen, confidently discussing a promising investment opportunity. The message is clear, professional, and persuasive. The potential returns sound promising.
At first glance, everything seems legitimate. But what if the person speaking isn’t real at all? Today, advances in artificial intelligence (AI) have made it possible for fraudsters to create highly convincing deepfake videos and cloned voices designed to build trust quickly and manipulate potential investors. What looks like a credible business leader could actually be a digitally generated avatar reading a carefully scripted message.
Some Oklahomans have also reported receiving urgent phone calls from voices that sound strikingly similar to family members or close friends. In these situations, scammers may use AI voice-cloning technology to create panic or urgency, hoping victims will send money or share sensitive financial information before realizing the call is a scam.
Artificial intelligence is rapidly becoming part of our everyday lives. Individuals are using AI tools to improve productivity, plan schedules, organize finances, and even enhance creativity. Businesses are leveraging the technology to improve customer service, analyze data, and streamline operations.
Unfortunately, bad actors are evolving just as quickly. They are using generative AI to produce more sophisticated scams that feel personal and believable and are difficult to detect. AI can mimic speech patterns, facial expressions, and writing styles with increasing accuracy. These tools allow scammers to expand their efforts, targeting more people with messages that feel tailored and authentic.
Investment fraud involving AI is an emerging concern nationwide, and Oklahomans should take extra care. While the technology itself is not inherently harmful, the misuse of AI can have serious financial consequences. Falling victim to a fraudulent investment scheme can lead to lost savings, damaged credit, and long-term financial hardship.
The good news is that there are practical steps individuals can take to reduce their risk. Awareness and preparation are powerful tools in preventing fraud.
Codeword: Consider creating a secret word or phrase with family members to confirm identity during unexpected or urgent requests.
Listen: Pay attention to tone and word choice during phone calls or voice messages. If something sounds unusual, overly urgent, or inconsistent with how a loved one normally communicates, take a moment to pause.
Verify: If you receive an unexpected call requesting financial information or money, hang up and contact the person or organization directly using a trusted phone number.
Inspect: Look closely at videos or images for subtle irregularities, such as unnatural movements, distorted features, unrealistic accessories, or mismatched audio timing. Always research investment opportunities using multiple reliable sources.
Protect: Limit the amount of personal information you share publicly online. Scammers often use publicly available photos, videos, or voice recordings to build convincing fake identities. Never share sensitive financial information with individuals you have only met online or over the phone.
Implement: Use technology to your advantage. Keep software and apps updated to install the latest security protections. Create strong, unique passwords and regularly review privacy and security settings on financial and social media accounts.
Technology will continue to evolve, and artificial intelligence will play an increasingly important role in how we live and work. While new innovations can feel intimidating, they also offer tremendous opportunities when used responsibly.
By staying informed and taking simple preventive steps, Oklahomans can protect themselves while still embracing the benefits of modern technology. In many cases, a moment of caution today can prevent serious financial harm tomorrow.
( EDITOR’S NOTE — Melanie Hall is the Administrator of the Oklahoma Department of Securities. The Department protects the investing public and maintains market integrity through the administration and enforcement of Oklahoma’s securities laws. The Department also educates investors about investing and helps them learn to identify and avoid securities fraud. For more information, visit securities.ok.gov and investedok. org.)
