Mark Carney endorses a cryptocurrency investment platform

Mark Carney endorses a cryptocurrency investment platform
	MANIPULATED MEDIA
	"Canadian Prime Minister Mark Carney appears in a video promoting a government-backed cryptocurrency investment platform that turns a small deposit of a few hundred dollars into large monthly returns."
Domain	Business, Finance & Scams
Tactic	Manipulation; Imposture; Fraud or Scam;
Era	Current
First seen	2025
Origin	AI-generated videos and fake news-style ads on Facebook and other platforms, circulating in Canada since 2025 and continuing in 2026
Last reviewed	2026-10-26
	Further reading: books on Business, Finance & Scams

The claim that Mark Carney endorses a cryptocurrency investment platform is the hook of a series of investment scams that have cost Canadians large sums in 2025 and 2026. Social media ads show what appears to be the Canadian prime minister, or news anchors interviewing him, promoting an investment platform said to be backed by the government or the Bank of Canada, with an entry price of a few hundred dollars and promises of extraordinary returns. The videos are deepfakes created with artificial intelligence, and the platforms are fraudulent. Victims who make an initial deposit are pressured by fake "advisers" to invest more, are shown fabricated profits and eventually lose everything. Reported cases include an 86-year-old Ontario widow who lost nearly one million dollars and another victim who sent $450,000 over ten months.

The claim

Typical ads appear on Facebook, Instagram, YouTube or news-style websites. They show Carney, sometimes in a fake television interview, describing an opportunity for ordinary Canadians to earn money through a cryptocurrency or trading platform, often claimed to be supported by the Bank of Canada. The initial investment is small, commonly $250 to $350, which makes it seem low-risk.

How the scam works

According to the Canadian Anti-Fraud Centre and reporting by Canadian media, the ad is only the first step:

The victim clicks the ad and registers, often providing a phone number.
A person posing as an investment adviser calls and helps the victim make a small deposit.
The victim is shown a professional-looking trading dashboard with rapidly growing profits, which are fabricated.
The "adviser" encourages larger deposits, sometimes asking for remote access to the victim's computer to "help" with transfers.
When the victim tries to withdraw, they are told to pay fees or taxes first, or the platform simply disappears.

In one case reported in 2026, an 86-year-old retired pharmacist in Ontario saw a Facebook ad in January 2025 showing what appeared to be Carney promoting a $350 investment backed by the Bank of Canada. Over the following months, scammers persuaded her to cash out her retirement savings, mortgage her condominium and take a cash advance on her credit card, telling her she could earn about $40,000 a month. She lost nearly $1 million. In another case reported by CBC in October 2026, a man sent about $450,000 over ten months after seeing a deepfake of Carney; his bank eventually flagged and restricted the transactions.

What the evidence shows

Carney has made no such endorsement. Neither the prime minister nor the Bank of Canada promotes private investment platforms.
The videos are AI-generated. Deepfake technology is used to put words in Carney's mouth, often over real footage of his speeches or interviews.
Officials have warned. Jeff Horncastle of the Canadian Anti-Fraud Centre said deepfakes are used to impersonate politicians, celebrities, financial experts and government officials to make scams seem legitimate. The federal minister responsible for AI acknowledged that such scams are increasingly sophisticated.
A wider pattern. Similar deepfake scams have used the likenesses of Elon Musk, other heads of government and well-known financial commentators around the world. An Ontario woman reportedly lost $1.7 million in 2026 to a scam using a deepfake of Musk.

Why it persists

Borrowed authority. A familiar, trusted face makes an investment seem safe.
A small first step. A modest initial deposit lowers resistance.
Fake profits. Dashboards showing growing balances persuade victims to invest more.
Platform ads. Scam ads can be purchased on major social media platforms and often reappear after being removed.
Targeting older adults. Retirees with savings are frequent targets.

Lessons for readers

No prime minister, central bank or government endorses private investment platforms in social media ads.
Be extremely skeptical of videos of public figures promoting investments; they are frequently deepfakes.
Never give remote access to your computer to someone offering investment help.
A balance on a website is not money you can withdraw.
Report suspicious ads to the platform and to the Canadian Anti-Fraud Centre, and talk to older relatives about these scams.

Sources

CTV News, "Ontario senior bilked out of $900K after falling victim to crypto scam that used AI deepfake of PM Carney," June 26, 2026.
Cybernews, "Widow loses nearly $1M after falling for AI deepfake video of Canadian prime minister," July 17, 2026 (citing the National Post).
CBC Go Public, reporting on a deepfake Carney investment scam, October 2026 (as summarized by Resemble AI's Deepfake Watchlist, October 16–22, 2026).
Canadian Anti-Fraud Centre, warnings on deepfake investment scams.