Posted: June 20, 2024
Artificial intelligence (AI) has become more sophisticated in scamming, creating highly realistic deepfake videos and voice simulations that make it easier to impersonate individuals. AI can generate convincing phishing emails, text messages, and videos, and AI-driven chatbots can engage in real-time conversations, making scams difficult to spot. But preventing AI fraud for seniors is possible when older adults are informed and know what to look for.
This article covers the basics you should know to ensure you do not fall victim to AI fraud.
As AI technology advances, scammers leverage these innovations to create more sophisticated and convincing schemes. But you can help ensure you do not fall victim to these scams by staying informed about the latest tactics to protect yourself and your loved ones. In 2024, the top AI scams to be aware of include the following.
These are sophisticated emails and messages that mimic trusted contacts or institutions. You can combat these scams by double-checking email addresses and contact information before responding. Often, phishing emails have an almost imperceptible difference in email addresses; for example, a phishing email might use an email address like boss@cornpany.com instead of boss@company.com—a subtle but critical difference in spelling.
Never click on links or download attachments that do not come from a trusted source. If you get an invoice for something you are pretty confident you did not purchase, don’t click on the link or attachment; instead, go directly to your credit card account to ensure there are no fraudulent purchases. The same holds true for money requests from apps such as Venmo and PayPal; go directly to the source without clicking on links.
Security software such as McAfee or Norton can help protect you from these types of emails.
Many legitimate companies use AI-driven chatbots for customer service and sales, but criminals may engage in deceptive real-time conversations to get personal, financial, or other sensitive information. Red flags for scams include urgent requests, offers that seem too good to be true, or unusual language or grammar. A good rule of thumb is never to share personal, financial, or login information with chatbots.
Deepfakes are realistic video and voice impersonations that deceive individuals into sending money or sharing sensitive information. For example, a common scam is for someone to call you, claiming to be your grandchild or another loved one—and they may sound eerily like that person. They may say they have an emergency and need money. Instead of panicking and sending the money, you should verify the person’s identity, usually by calling them directly.
If you get a call like this, look for video or audio quality inconsistencies, unusual behavior, or other red flags.
AI can generate automated investment advice or opportunities that are fraudulent. Be cautious of high-pressure sales tactics urging you to make a quick decision, and thoroughly investigate any investment opportunity and the company behind it. Verify the legitimacy of any investment platform, advisor, or opportunity through independent sources and regulatory bodies like the SEC or FINRA. Ensure that financial advisors and firms are appropriately registered and have a track record of legitimate operations.
If you suspect an investment scam, immediately report it to regulatory authorities and financial institutions.
Fake profiles and posts spreading misinformation or fraudulent offers are more common today than ever. Cross-check news and posts with reputable sources before believing or sharing information. Be wary of sensational headlines, urgent requests, and offers that seem too good to be true. Limit your privacy settings on social media and only accept requests from known individuals.
Getting another opinion from a trusted friend or family member who is tech-savvy is always a good idea if something is suspicious or overly urgent. Also, seniors should be aware that government agencies and law enforcement will never contact you directly to ask for money via email or phone. Banks will also not contact you to ask for personal information.
An AI-generated fraud voice call, also known as a “vishing” (voice phishing) scam, involves using advanced AI technology to create highly realistic synthetic voices that mimic the speech patterns and tone of trusted individuals or organizations. Scammers use these synthetic voices to deceive victims into revealing sensitive information, transferring money, or performing other actions that benefit the scammer. These calls can sound convincingly like a family member, friend, or legitimate entity such as a bank or government agency, making them particularly effective and dangerous. Clever criminals can also manipulate caller ID, making it look like the call is coming from a bank or government organization when it is not.
Be on alert for the following AI-generated fraud calls:
Banks and government agencies do not call customers to ask for sensitive information, so be suspicious of any such call. And the bottom line in protecting yourself from vishing is never giving out personal or financial information over the phone. Ever.
By staying informed and vigilant, older adults can protect themselves against AI-generated scams. You can effectively safeguard your personal information and financial well-being by learning about the latest scam tactics, verifying sources, using strong security measures, and seeking advice from trusted individuals. Embracing these proactive steps enhances security and empowers you to navigate the digital world with confidence and peace of mind.
© 2024 Holly Creek
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