ICIR/FactCheckHub wins global Fact-checking award in Lithuania

THE International Centre for Investigative Reporting (ICIR) and FactCheckHub have won the Gold Standard Award at the 2026 Global Fact-Checking Awards for their investigation on how artificial intelligence was weaponised to promote fraudulent investment schemes in Nigeria.

The award was announced on Friday, June 19, at GlobalFact 2026, the annual conference of the International Fact-Checking Network (IFCN), held in Vilnius, Lithuania.

The winning investigation, authored by Nurudeen Akewushola, a senior Investigative journalist and fact-checker with The ICIR was produced by ICIR in collaboration with FactCheckHub, an IFCN signatory, with support from the Pulitzer Center.

The report titled “AI-assisted Ponzi schemes: How Meta, YouTube’s regulatory lapses enable scammers smile to banks,” examined how fraudsters exploited the growing public fascination with artificial intelligence to repackage traditional Ponzi schemes as sophisticated “AI-powered” investment platforms.

Through undercover reporting, open-source intelligence (OSINT), and digital forensic techniques, the investigation exposed how operators used deepfake videos, cloned voices, fabricated identities, and fake endorsements by public figures to lure unsuspecting victims.

The investigation also revealed how major technology platforms failed to effectively enforce their own policies against deceptive financial advertising, allowing fraudulent promotions to reach thousands of users.

In announcing the finalists earlier this month, the IFCN described the investigation as reporting that “exposed AI-assisted Ponzi schemes that caused direct financial harm to vulnerable audiences, while also revealing enforcement failures by Meta and YouTube.”

The reporter traced the operations of several purported AI-powered investment platforms, including CBEX, Quantum AI, SquaredOptions, and Modmount Limited.

The investigation found that many of the schemes were unlicensed and relied on synthetic media and deceptive marketing tactics rather than genuine artificial intelligence systems.

Following publication of the report, Meta removed several fraudulent pages, accounts, and advertisements identified during the investigation.

The Gold Standard Award is regarded as the highest honour presented by the IFCN, recognising fact-checking journalism that demonstrates exceptional standards of verification, research, transparency, fairness, and public service.

ICIR and FactCheckHub emerged ahead of finalists from Jordan and Norway in a category judged by an international panel of experts from journalism, academia, and the fact-checking community.

The award marks a significant international recognition for Nigerian journalism and highlights the growing role of investigative reporting, OSINT, and digital forensic techniques in exposing emerging forms of technology-enabled fraud.

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Speaking on the recognition, the organisations described the award as a testament to the importance of rigorous, evidence-based journalism in holding powerful actors accountable and protecting the public from harm in an increasingly complex digital information environment.

Reacting to the development, Akewushola, who also is the acting team lead of the FactCheckHub said: “I am deeply honoured that this investigation has received the Gold Standard Award at the 2026 Global Fact-Checking Awards.

“This recognition is particularly meaningful because it celebrates rigorous verification, transparency, and public-interest journalism at a time when artificial intelligence is increasingly being weaponised to deceive vulnerable people.”

He stressed that the award is a testament to the importance of investigative reporting and factchecking in exposing emerging threats in the digital information ecosystem.

“I am grateful to the International Centre for Investigative Reporting (ICIR) and FactCheckHub for providing the editorial support, guidance, and collaborative environment that made this investigation possible.

”I also sincerely thank the Pulitzer Center for supporting this investigation. Their support enabled the time, resources, and depth of reporting required to uncover a complex network of AI-driven scams operating across multiple platforms and jurisdictions,” he said.

He added that the achievement reflected the commitment of both organisations to producing impactful journalism that holds powerful actors accountable and protects the public from harm.

Mustapha Usman is an investigative journalist with the International Centre for Investigative Reporting. You can easily reach him via: musman@icirnigeria.com. He tweets @UsmanMustapha_M