A New Era of Scam Journalism: How Fake News Sites Are Fueling Global Investment Frauds

In a digital age where trust is currency, scammers have found a profitable loophole: manufacturing it wholesale. A sprawling new campaign has been uncovered that weaponizes the internet’s most trusted media brands—CNN, BBC, CNBC, News24, and ABC News—to promote investment scams so polished they could pass for legitimate business pitches.

The mechanics of the scam are as devious as they are effective. It starts with a clickbait ad on Google or Facebook featuring a familiar face—usually a local celebrity—beside a promise: “Shocking! [Celebrity] backs this new passive income stream for everyday Americans!” Clicking the ad redirects users to a forged news article, mirroring the design and editorial voice of a major news outlet. The phony article then touts a breakthrough investment platform, promising effortless wealth creation.

That’s where the real trap begins.

Users are encouraged to sign up with their personal information, after which a “friendly advisor” follows up via phone to walk them through the process. A small deposit—usually around $240—is framed as the entry fee to unimaginable returns. The trading platform they’re introduced to shows explosive profits, luring victims to invest more. But once withdrawal time rolls around, victims are met with fabricated fees, verification delays, or worse—complete silence.

By then, the scammer has vanished. Worse still, the victim’s contact information has likely been sold to another ring of fraudsters for a second wave of deception.

According to researchers, this isn’t a one-off scam. It’s an industrial-scale operation involving 17,000 fake news sites across 50 countries. The United States is currently the most targeted. The fraudulent platforms sport names like Eclipse Earn, Solara Vynex, and Trap10—none of which are registered with financial regulators or possess any legitimate trading licenses.

What makes these scams especially dangerous is their blend of social engineering, ad targeting, and psychological manipulation. The impersonation of news brands lends credibility. The use of local celebrities adds emotional resonance. And the fake gains on the platform build false confidence.

“Trust is a big factor when deciding where to invest your hard-earned money, so bad actors work hard to find ways to trick us into believing what they offer is legitimate,” said Erich Kron, Security Awareness Advocate at KnowBe4. “The use of well-known and trusted national or global brands to promote their schemes is certainly a part of this, but they are also able to mimic local celebrities… and really change the game.”

Kron warns that deepfakes and AI-assisted impersonation are fueling a new wave of realism in these scams. “A person may test the waters with $100, see that they've made $1000 from that, and be convinced into putting thousands more into the investment, only realizing it's gone south when they try to get their money.”

How to Spot—and Stop—These Scams

Cybersecurity experts and consumer protection agencies are urging the public to stay vigilant. Here are some telltale red flags:

• The social media account posting the ad has no history or followers.

• URLs mimic well-known domains but use cheap extensions like .xyz, .shop, or .click.

• Articles feature absurdly high returns or celebrity endorsements with no verifiable source.

• "Advisors" ask for personal details under the guise of Know Your Customer (KYC) compliance.

To stay safe:

• Don’t click on suspicious ads or links.

• Use up-to-date security software that can block malicious websites.

• Verify investment platforms through official financial regulators (e.g., the SEC in the U.S. or FCA in the U.K.).

• Never send money or personal information to someone you’ve just met online.

If you suspect you've been targeted:

• Cease all communication immediately.

• Change your passwords and enable two-factor authentication.

• Alert your bank and credit bureaus.

• Report the scam to your country’s cybercrime or fraud authority.

As Kron puts it bluntly: “Education is critical for people to avoid falling victim to these very crafty attackers.”

The internet may be overflowing with opportunities, but when investment platforms are backed not by banks but by bots, the only thing guaranteed to grow is the scammer’s wallet.