Protect Yourself from AI Fraud

With AI becoming increasingly popular, it is important as ever that you are able to identify the different types of AI- fraud and understand the importance of being cautious of suspicious activity.

With AI becoming increasingly popular, it is important as ever that you are able to identify the different types of AI- fraud and understand the importance of being cautious of suspicious activity.

AI-Fraud is when criminals use artificial intelligence to deceive or defraud people or organizations. This is done through AI’s ability to perfectly replicate a person’s voice or altering images and videos to make them appear as if they were the original. Let’s look at a few specific examples.

• The first is Phishing. Have you ever gotten an email that looks just like it’s from your bank but feels off? That’s AI getting better at mimicking legit emails, trying to trick you into sharing your personal info. ¹
• The second is Imposter Scams. You know those scary calls that sound like the IRS? Or a charity? AI’s behind that too, making those fake calls sound so real they’d fool almost anyone. ²
• Third is Grandparent Scams. Some people use AI to try to convince you that there’s a family crisis like your grandkid suddenly needing bail money. ⁴ Always double-check with family first.
• Lastly, we have Deepfakes. AI can make super convincing videos or photos -even of celebrities. In 2024, A finance worker at a large global company was tricked into paying over $25 million to a group of people using deepfake technology to pose as the company’s CFO and several other high-ranking staff members in a video conference call. The worker, initially suspicious of a phishing email, was convinced by the realistic deepfake recreations of colleagues and agreed to the transaction.

So, what can you do to avoid falling victim to an AI scam? If someone you don’t know asks for personal info, double-check who they are first. Stay sharp, be skeptical, and always keep your guard up in this tech-filled world. Make sure you are using strong passwords and change them regularly. You can also enable Two-Factor Authentication which adds an additional layer of security by requiring a second form of verification. By staying informed and cautious, you can significantly reduce the risk of falling victim to AI fraud.

For additional resources on this topic, visit our website and feel free to give us a call if you have any questions or see any suspicious activity.

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