Scott Hermann is the co-owner and CEO of IDIQ.
Artificial intelligence (AI) has revolutionized various aspects of our lives, from healthcare advancements to automating complex finance processes to enhancing entertainment experiences. However, as with any tool in the wrong hands, AI can be used maliciously. Scammers are increasingly leveraging AI to create sophisticated and deceptive scams, posing a significant threat to our identities and finances.
IDIQ, the financial intelligence company that I cofounded, has been tracking the trends in identity theft and related scams through reports from our identity theft brand. Our research has showed a surge in identity theft incidents and AI-powered scams. Here are the top AI scams being reported, as well as tips on how to help protect yourself and your business.
Top AI Scams
Deepfakes
Deepfakes are AI-generated videos or images that are very difficult to distinguish from reality. They are made using a type of machine learning designed to simulate the brain's complex decision-making abilities, known as deep learning. This technology analyzes massive amounts of audio or video of a specific person and then uses that information to generate deeply convincing content that can mimic facial expressions, voices and mannerisms.
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Deepfake technology can both create content from scratch and manipulate existing content. For instance, it can fabricate a person by stitching together facial features from various sources. More commonly, it can alter existing videos or images to replace someone's face with another or even add facial expressions and movements that weren't originally there.
The major concern is that scammers can use deepfakes to exploit people's trust in familiar faces to spread misinformation, damage people's reputations or even manipulate people's beliefs or actions. Deepfakes give scammers the ability to impersonate virtually anyone, from loved ones to authority figures, celebrities and politicians.
While this technology has the potential to cause great harm, it is also widely accessible to anyone on the internet. Several software programs available online allow people with basic computer skills to create deepfakes. These tools often come with tutorials and require minimal technical knowledge.
However, while creating a basic deepfake might be easy, producing high-quality, convincing ones can still require a significant amount of training data (images or videos) and processing power. Deepfakes of people with a smaller online presence might be harder to pull off realistically because of a lack of training data.
How To Help Protect Yourself:
- Be wary of unsolicited video calls or voice messages, especially those requesting money or personal information.
- If a message or call seems out of character, verify it directly with the person in question through a trusted phone number or communication channel.
- Approach shocking online content with a healthy dose of skepticism, especially videos and audio recordings.
AI-Generated Voice Phishing
Phishing scams are an ongoing threat to online security, and AI has taken them to new heights. A phishing scam is a fraudulent attempt to obtain sensitive information such as usernames, passwords, Social Security numbers, credit card information and more by pretending to be a trustworthy organization, business or even a friend or family member. Typically, this scam is done through deceptive emails, messages or websites that trick individuals into providing their personal data.
With deepfake technology, scammers can now use AI to generate realistic human voices for compelling phishing calls and voicemails. This technology convincingly mimics real voices, making it difficult to distinguish between a legitimate call and a scam attempt.
AI-generated voice phishing scams aim to target people with urgent messages, creating a sense of panic. Scammers might urgently demand money, posing as bank representatives, government officials threatening legal action or people you know personally. These scams can be particularly effective for those who rely heavily on phone and email communication for business or personal matters.
How To Help Protect Yourself:
- Don't trust caller ID—scammers can easily spoof phone numbers.
- Be wary of unsolicited calls, emails or texts, especially those with a sense of urgency or threats of legal action.
- Never share personal information or financial details over the phone or email unless you can verify their legitimacy.
- Consider using a call-blocking service that can identify and filter out suspected scam calls.
AI-Powered Chatbots
Chatbots are computer programs designed to carry lifelike conversations with humans, so users feel like they are talking to a real person. Unlike traditional chatbots that rely on scripted responses, AI-powered chatbots leverage advanced technologies to understand and respond to the nuances of human conversation in a more natural way. While many businesses use AI chatbots to answer customer questions on their website, scammers have found a way to abuse them.
AI chatbots can pose as virtually anyone, engaging in seemingly natural conversations to gather information and learn about their victim's vulnerabilities, adapting their tactics in real time. Not only are chatbots capable of exploiting people's trust to gather sensitive information, but they also can manipulate them into clicking on malicious links or sending money to unverified sources.
How To Help Protect Yourself:
- Be cautious when engaging with new online contacts, especially those who seem overly eager to connect.
- Don't share personal information with anyone you don't know and trust.
- Be wary of requests for money or redirection to suspicious links during online conversations.
- If a conversation feels strangely scripted or impersonal, it might be best to disengage.
AI Robocalls
AI robocalls are automated phone calls that use AI to mimic real human voices, including tone, inflection and even regional accents. This makes the calls sound more legitimate and trustworthy, increasing the chance of potentially bypassing traditional call-blocking methods.
Scammers leverage these AI-powered robocalls to trick people into giving away personal information or money. Scammers can use robocalls for impersonation scams, phishing scams, exploit scare tactics or spread misinformation.
The Federal Communications Commission has banned the use of AI-generated voices in robocalls, making it illegal in the United States. If you receive a suspicious robocall, you can report it to the FCC to help them track down the scammers.
How To Help Protect Yourself:
- Don't answer calls from unknown numbers. If a legitimate caller leaves a voicemail, you can return the call through a verified phone number on the company's website.
- Consider registering your phone number with the National Do Not Call Registry.
- Utilize apps or phone settings that can identify and block suspected spam calls.
How To Help Prevent AI Scams
Staying informed about AI scams and exercising caution online are crucial steps towards protecting yourself. While AI scams are a growing threat, there are steps you can take to help protect yourself. Here are four key strategies to help protect yourself from AI scams.
- Create A Family Password: A secret password known only by family members can help prevent AI scammers from successfully posing as a member of your family.
- Fact Check: Healthy skepticism is key. Make sure your information comes from reputable sources, and always double-check through mainstream fact-checking sites.
- Stay Informed And Aware: Staying up to date on current AI scam trends helps you identify a scam.
- Protect Personal Information: Always ensure your personally identifiable information (PII) remains private. This includes your Social Security number, date of birth, driver's license number and more. Identity protection services help monitor personal data and provide alerts if there is possible suspicious activity.
The rise of AI technology has brought about sophisticated threats such as deepfakes, AI-generated voice phishing, AI-powered chatbots, and AI robocalls. These advanced techniques make it increasingly difficult to distinguish between genuine and fraudulent communications.
It is crucial to stay informed about these threats and take proactive measures to protect yourself and your personal and business information. By remaining vigilant, you can help safeguard your sensitive information and avoid falling victim to these ever-evolving AI-driven scams.
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