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Cybersecurity researchers have uncovered a new type of investment scam that combines social media malvertising, company-branded posts, and AI-powered video testimonials featuring famous personalities. Dubbed “Nomani,” the scam has seen a 335% increase in activity between H1 and H2 2024, with over 100 new URLs detected daily on average between May and November 2024. The main goal of the fraudsters is to lure victims to phishing websites and forms that harvest their personal information, which is then used to manipulate them into investing in non-existent investment products. The scam is believed to be the work of Russian-speaking threat actors, and it’s suspected that different groups are responsible for managing each aspect of the attack chain. This highlights the need for increased vigilance and awareness among individuals and organizations to protect against such scams and prevent financial and data loss.