In this growing digital age, where artificial intelligence (AI) continues to reshape our world, it's no surprise that scammers are harnessing this technology to target people in new ways.

As time moves on, the growing threat of AI scams is becoming more apparent. One of the most concerning aspects is the utilization of AI's features, are the sophisticated tools that enable scammers to create remarkably convincing schemes, making it even more challenging for people to detect fraudulent activities.

Types of AI Scams

There are various types of AI scams that are being utilized to trick people into disclosing personal financial information. One of the most popular AI scams is voice impersonation or cloning. Scammers use AI-generated voices that mimic loved ones to deceive people into providing financial information. They may call, claiming to be a grandchild in distress or a bank representative, with an end goal of taking funds. These ransom attacks make it difficult for seniors to determine if it is their loved one or not on the other side of the phone. The way these scams work is that they take the voice of their loved one from social media, through video clips, and then contact the relative and begin a conversation with the stolen voice, making it more believable.

Another type of scam to be on the lookout for are phishing emails and chatbots. AI-driven chatbots are used to engage with people through email or messaging apps, attempting to collect sensitive information or to get them to click on malicious links. This is a common scam where scammers use AI to add in personalized messages to make them sound more legit and convincing for residents.

Another tactic that can be used is leveraging deepfake technology to create hyper-realistic videos that convincingly fabricate conversations or events that never took place. This tool is designed to confuse and deceive people, especially senior citizens, as a form of manipulation. Scammers use these fabricated videos to blackmail victims, manipulating them into carrying out financial transactions against their will. In many cases, victims may believe they are complying with a legitimate request from a family member or trusted authority figure, only to discover later that they had been tricked by AI.

Protect Yourself from AI Scams

The first step in dealing with scams is to be aware of them. This is often the first line of defense to keep you and your loved ones safe. Second, is to be educated. If you do receive a call from a potential scammer, it’s important to verify who is on the other side of the phone. Often, it may not be a real person, especially if they are requesting financial information. To verify who is on the other side of the phone, you can use a password or safe word that only family members or friends would know. This is a good tactic to keep you safe and prevent the scammer from getting information if they are claiming to be someone they are not.

Another way to protect yourself is by enabling two-factor authentication (2FA) on your accounts, this helps add an extra layer of security to your information. This means that even if scammers somehow get your password, they won't be able to access your accounts without a second verification step. By taking control of your privacy settings, and adjusting them, you can limit the amount of personal information scammers can access.