Today’s scams look, sound, and feel real — until your money disappears. Here’s how to keep your finances safe.
5 min read
April Fools’ Day should be all about fake lottery tickets, office chairs wrapped in clingfilm, and elaborate celebrity hoaxes. But while these practical jokes are good for a laugh, there’s another kind of deception happening online every single day — one that’s designed not to entertain, but to deplete your bank account. From AI-powered deepfake scams to complex phishing schemes, cybercriminals have mastered the art of trickery. And unlike a harmless April 1st prank, their tricks come with a hefty price tag. Understanding these scams is the first step to making sure you’re in on the joke instead of being the punchline.
April Fools’ is once a year, but scammers work overtime
Scammers aren’t just getting smarter, they’re getting richer, as the amount of money lost to scams is skyrocketing across the globe. In France, financial investment scams have nearly tripled in just three years. A 2024 BVA Xsight survey found that 3.2% of French adults have been victims of investment fraud, up from 1.2% in 2021. Young men under 35 are especially vulnerable, since they often believe they “know about investments” and are more open to taking risks on get-rich-quick schemes. Scammers exploit this confidence, targeting them with flashy, tailored offers on social media.In the UK, £612 million was lost to investment fraud in 2023, with the average victim losing an eye-watering £25,000. And a Barclays report revealed that in 2024, one in five of their consumers were scammed, with 93% of cases occurring online. But investment fraud isn’t just a problem for traditional finance — it’s hitting crypto investors hard, too. In 2024, revenue from crypto scams reached $9.9 billion worldwide, and the situation is only getting worse. Projections suggest crypto fraud could soar to $12 billion in 2025, as scammers continue to use more sophisticated AI tools.
How AI is rewriting the fraudsters’ playbook
Scammers have always been master manipulators, but artificial intelligence has taken the deception to a whole new level. In a recent case, a French woman lost $850,000 to a scammer posing as Brad Pitt. Using AI-generated images, the fraudster built a seemingly genuine online relationship with the victim, making elaborate promises of love and even legal troubles that required financial support. The woman, convinced she was helping the Hollywood star, continued sending money until she realized had been scammed out of her life savings. But deepfake romance scams are just the beginning. In an even more elaborate scheme, an organized fraud network in Georgia stole $35 million from around 6,000 victims across the UK, Europe, and Canada. The scammers created a series of deepfake videos of well-known celebrities to push fraudulent crypto investments. Victims, lured in by these seemingly trustworthy promotions, clicked on links that took them to professional-looking trading platforms, complete with fake stock tickers, AI-generated Elon Musk news updates, and bogus profit displays. Everything appeared legitimate, until they tried to withdraw their money.
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Scammers are nothing if not creative. They’ve refined their tricks over the years, taking advantage of new technology and people’s trust to steal billions. The good news? Most scams follow predictable patterns, and once you know what to look for, you’re much harder to fool. And while scams are always evolving, one thing hasn’t changed: If something feels off, trust your gut. A little skepticism could save you a lot of money.
Phishing
Phishing scams start with an email that looks like it’s from a company you trust, i.e. your bank, PayPal, Amazon, Apple. The message usually claims there’s an urgent issue: your account is locked, or a large transaction has been made. You’re asked to click a link and log in to “fix” the problem. But that link? It leads straight to a fake website designed to steal your information.
How to spot it:
Check how the email greets you. Scammers tend to go with a generic “Dear Customer” or “Dear Sir/Madam”, while real companies will use your actual name.
Look at the sender’s email address. A legit email should come from an address like noreply@bank.com — not noreply@1234.bank.com or some weird spelling like noreply@bnk.com. If it looks off, don’t click anything.
Vishing
Ever picked up the phone and heard someone claiming to be from your bank or even a government agency? That’s vishing, short for "voice phishing." The scammer will insist you need to act fast, usually by giving them personal details or even transferring money to a “safe” account. To make the call more convincing, they might use number spoofing, so that their number seems like it’s coming from an official source.
How to spot it:
Scammers create urgency. If someone is pressuring you for personal details or money, it’s a red flag.
No real bank or agency will ever ask for your PIN, password, or full banking details over the phone. If in doubt, hang up and call the bank directly using the number on their official website.
Investment scams
If an investment opportunity guarantees risk-free, high returns, run the other way. Investment scams entrap people with faux celebrity-endorsed offers, hacked social media accounts, or too-good-to-be-true stock tips. The goal? To get you to invest in something that doesn’t exist.
How to spot them:
Watch out for AI-powered fakes. Deepfake videos and manipulated photos are getting more convincing, but you can still spot clues like hands that don’t look quite right, strange blinking patterns, or distorted text in images.
Find better coverage, i.e. identify if a reputable news outlet has reported on this.
Trace claims back to the original context — does it hold up?
Don’t let scammers have the last laugh
Scammers are working 365 days a year to fool you — but N26 is working even harder to protect you. With real-time push notifications, secure login protocols, and cutting-edge fraud prevention tools, your finances stay safe no matter what tricks fraudsters try to pull. Stay ahead of scammers and keep your money exactly where it belongs: secure in your N26 account. Choose the right account for you today.
