ZANACO dissociates institution from fake AI video linking it to illegal investment scheme

ZANACO stressed that it has no association with the platform and did not endorse, support, or facilitate any illegal or get-rich-quick schemes. The bank described the content as part of a growing trend of sophisticated scams using AI to impersonate public figures and reputable institutions. The bank further urged the public to remain vigilant, avoid investing in such platforms, and refrain from sharing the video.

“Suspected scams should be reported to ZANACO, the Zambia Police Service, and the Zambia Information and Communications Technology Authority (ZICTA),” it said. ZANACO added that its official communication channels remained the only reliable sources of verified information. Minister Musokotwane also condemned the unauthorized use of his image, calling it a serious cybercrime.

He warned that interacting with or sharing such content could expose individuals to both financial loss and potential criminal liability. The Minister emphasized that he had not approved or consented to the use of his likeness and urged citizens to reject the scheme and related content. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.