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Instagram ‘BMO’ ads use AI deepfakes to scam banking customers

Instagram ads impersonating financial institutions like Bank of Montreal (BMO) and EQ Bank (Equitable Bank) are being used to target Canadian consumers with phishing scams and investment fraud. Some ads use AI-powered deepfake videos in an attempt to collect your personal information, while others use official branding to drive traffic outside of the platform to lookalike illicit domains that are not affiliated…