New York Attorney General (AG) Letitia James issued an investor alert on Aug. 29, warning New Yorkers about scams luring potential investors with fake videos created with artificial intelligence (AI) that apparently show celebrities or wealthy business leaders touting investment schemes, which are actually fraudulent. James said the videos, known as deepfakes, often appear in social media feeds, digital ads, and messaging apps and are expected to fuel billions of dollars in fraud every year.