TikTok cracks down on AI stock fraud: banning illegal accounts and courses

Recently, the Douyin Security Center issued an announcement stating that it will continue to strengthen the supervision of content involving stock investment on the platform and strive to create a healthy network environment. The platform encourages financial and securities professionals to share real and reliable stock information, and advocates a good atmosphere of not spreading rumors or spreading rumors, so as to jointly promote the development of the industry.

However, TikTok found that a few accounts, without relevant qualifications, use so-called AI tools to publish false information, attract user attention, and even commit fraud. These accounts often use gimmicks such as "recommended efficient AI stock selection tools" or "selling AI stock trading courses" to mislead investors and cause serious economic losses.

For example, some accounts such as "Shou* Finance" and "Xiao* Wealth Space" claim that using a certain AI tool can "accurately analyze" the future trends of specific stocks and provide specific operational suggestions for inducing investment. Their remarks include "using an AI tool to analyze, a stock has a high potential for rising in the short term", etc. These statements are unfounded and are easy to mislead investors who are unaware of the truth.

In addition, there are some accounts such as "Little ** Game" and "Little ** Fill", which exaggerate the effectiveness of AI tools, claiming that "make 2.3 million in stock trading in four months" or "a profit of 32% in 12 days". This promise of overly good returns is actually a fraud using investors' greed.

What's more serious is that some accounts such as "Love Stock* Team" and "Love Stock* Women" have begun to promote training courses for AI tools, claiming that they can help users get "maximize stock trading opportunities." These accounts also guide users to leave the Douyin platform through various means and go to third parties to engage in deeper fraud.

In order to protect the legitimate rights and interests of users, Douyin stated that it has severely dealt with these illegal accounts, including banning accounts, removing videos from the shelves, reclaiming profit rights, and handing over the serious cases to the public security organs for handling. Douyin reminds users to be cautious when investing to avoid being deceived.