BizNews tribe member duped by deepfake Alec Hogg on 'Carte Blanche' loses R24,000 in AI-powered scam

This interview tells the cautionary story of a South African victim who lost over R24,000 after being drawn into a sophisticated online trading scam run through a platform called FXSI. What began with a convincing video advert and seemingly professional “account managers” quickly turned into a high-pressure scheme, with the victim encouraged to make larger deposits and then pressured to pay more to recover losses. The interview highlights how manipulative and believable online investment scams can be, the emotional toll they take on victims, and the importance of verifying any platform before committing money.Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.Support South Africa’s bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.If you prefer WhatsApp for updates, sign up to the BizNews channel here..Watch here.Listen here.By Kerry Lanaghan.An elderly member of the BizNews community has lost more than R24,000 after being drawn into an alleged online trading scam linked to a platform called FXSI.The victim was first attracted by a convincing video advertisement, which appeared to feature a credible financial endorsement. After clicking through, they were contacted by supposed “account managers” who guided them through the investment process, encouraged deposits, and created the impression of legitimate trading activity.At first, the platform appeared professional and trustworthy, giving the victim confidence that their money was secure. But when the account value began to decline, they were pressured to deposit more funds, with promises that this would help recover the losses. When the victim refused, the tone of communication reportedly became aggressive, including threats of legal action.The case highlights the growing sophistication of online investment scams, which often use polished marketing, persistent contact, and psychological pressure to win trust and extract money. It also points to the emotional impact on victims, who are often left dealing with shame, anger and betrayal after realising they have been deceived.The victim’s experience serves as a warning to South Africans to treat online investment opportunities with caution, question offers that appear too good to be true, and thoroughly verify any trading platform before committing funds.

BizNews tribe member duped by deepfake Alec Hogg on 'Carte Blanche' loses R24,000 in AI-powered scam

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