Fake AI apps and AI trading scams: how to avoid them

The scam in short

"AI" has become a powerful selling word. Scammers use it to make old frauds sound new and clever. They promise that an AI trading bot, AI app or AI "earning platform" will grow your money with no effort.

No AI can predict markets with certainty. Nobody can guarantee profits. Any scheme that does is a warning sign on its own.

This guide is general information, not financial advice. AI does not replace a qualified financial adviser. Speak to one before you invest.

Common forms

• AI trading bots. You are told a bot trades shares, currencies or crypto for you and earns a fixed daily percentage. You deposit money and a dashboard shows growing profits. When you try to withdraw, new "fees" or "taxes" appear. Sometimes the account is simply frozen.
• "Earn from home" AI tasks. You are paid small amounts to rate products or "train AI". Then you are asked to deposit your own money to unlock bigger tasks.
• Fake AI apps. These copy the name or logo of a well-known chatbot. Some charge for something that is free. Some show endless adverts. Others steal your data and passwords.
• Deepfake endorsements. Videos of a famous person or public figure appearing to recommend an investment platform. See deepfake and voice scams.
• Referral schemes. You earn by bringing in friends and family. This is how pyramid schemes keep going until they collapse.
• Recovery scams. After you lose money, someone offers to get it back for a fee. This is usually another scam.

Warning signs

• Guaranteed or fixed returns, such as a set percentage every day
• Pressure to deposit quickly before an "offer" ends
• WhatsApp or Telegram groups full of people posting their "profits"
• Payment to a personal mobile wallet, such as a JazzCash or Easypaisa number in an individual's name
• Requests to pay in cryptocurrency or gift cards
• Withdrawals that need a new fee first
• An app shared as a file or link instead of through the official app store
• No clear company name, address or registration details

Rules that protect you

1. Never share a one-time code (OTP), PIN or password. No genuine company, bank or app will ask for these.
2. Never pay to receive money. A fee to unlock profits, prizes or loans is a scam signal.
3. Download apps only from official app stores or the company's own website. Even then, check the developer name. Fake apps sometimes slip through.
4. Check registration. Investment companies in Pakistan should be registered with the relevant regulator. You can check with the Securities and Exchange Commission of Pakistan (SECP) through its official website. Banks and mobile wallets are regulated by the State Bank of Pakistan.
5. Talk to someone you trust before sending money. Scammers ask you to keep it secret for a reason.
6. If it sounds too good to be true, treat it as false.

If you have already paid

• Stop paying. Do not send more money to "unlock" a withdrawal.
• Money sent or bank details shared: call your bank immediately on the number printed on the back of your card or on its official website and ask them to block the transaction or account. For problems with banks or mobile wallets you can also contact the State Bank of Pakistan helpline on 111 727 273.
• Report the crime: call the National Cyber Crime Investigation Agency (NCCIA) cybercrime helpline on 1799.
• Fraudulent calls or messages: report them to the Pakistan Telecommunication Authority (PTA) through its complaint portal or its complaint management app.
• Keep evidence: screenshots of the app and chats, wallet numbers, transaction IDs and dates.
• Ignore anyone who offers to recover your money for a fee.

These schemes are designed to fool careful people. There is no shame in reporting. It also helps protect others.

Try our scam check prompt on any offer you are unsure about.