A retired teacher in Saskatchewan says he lost thousands of dollars to a scam after seeing an AI-generated fake video of Canadian Prime Minister Mark Carney promoting a fraudulent crypto scheme.
Lynn Phaneuf, 70, says he thought he was watching a legitimate segment on his smart TV when a video styled as a CBC interview featuring Carney and host Rosemary Barton appeared, CBC reports.
The retired teacher says the segment promoted what looked like a government-backed opportunity to invest in crypto assets. But it never aired on CBC and was later confirmed to be a deepfake video impersonating both the anchor and the prime minister.
He says the fake broadcast led him to a website called TW Pro, which later rebranded to PlusTW, which showed real-time stock and crypto prices and presented itself as a normal trading interface, offering just enough familiarity to draw him in.
Phaneuf says his first investment was $365. After a brief phone call with someone posing as a financial adviser, the account showed a small profit, and he was able to withdraw funds. Phaneuf says the early payout convinced him the operation was real.
“I was not trying to make big money out of it. I didn’t need the big money out of it. I just thought, ‘Oh, this is something to try.'”
Scammers soon urged larger commitments. Phaneuf invested $3,000 — the upper limit he set for himself — as callers used Canadian phone numbers and the names of real advisers to build credibility. He says the fraudsters asked for money and told him to send the funds via the Singapore-based crypto exchange Crypto.com.
When he tried to transfer more funds, Phaneuf says the Royal Bank of Canada got in touch with him to confirm the transaction, warning him that crypto typically involves scams.
“I always use the analogy of being lost in the bush. Once you’re lost, you stop believing the things that you should believe.”
Phaneuf says he knew he was a victim of the scam after trying to withdraw more money from the platform. He says the calls stopped, and attempts to close his account were ignored. All in all, he lost $2,800.
“I was mad because I fell for this one hook, line and sinker.”
The RBC confirms it contacted Phaneuf about the situation but declined to discuss specifics due to client privacy. Meanwhile, Crypto.com also confirms it had no connection to TW Pro or PlusTW.
Phaneuf says he reported the theft to Prince Albert police, but the service initially declined to pursue the case. After CBC contacted police for comment, Chief Patrick Nogier said the file had been reopened.
“We need to be upfront. We do not have the capabilities and the expertise.”
Nogier says cybercrime cases regularly exceed the capacity of mid-sized police forces.
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