Scam Alert: AI Takes Financial Fraud to New Depths
December 5, 2024
Privacy Plus+
Privacy, Technology and Perspective
This week, let’s direct our attention to the FBI’s recent warning about sophisticated financial scams leveraging artificial intelligence.
Fraudsters are now deploying AI-generated content—including remarkably convincing text, images, audio, and video—to deceive potential victims. Among other things, that means that the person you hear on the telephone may not be a person at all, but instead an AI-generated clone controlled by a criminal.
These AI-enhanced scams represent a significant evolution in fraudulent tactics. Criminals can now clone voices, create realistic video calls, and generate authentic-looking documents with the use of AI.
Rather than completely summarize the FBI’s already succinct bulletin, you may read it by clicking on the following link:
https://www.ic3.gov/PSA/2024/PSA241203
We encourage our readers to pay special attention to the tips offered by the FBI, which include these suggestions for protecting yourself:
+ Create a family code word/phrase for identity verification;
+ Check images/videos for telltale AI-generated flaws: distorted features, unnatural elements, irregular shadows, watermarks, and movement issues;
+ Pay attention to voice patterns and language to detect AI-cloned voices in calls;
+ Reduce your digital footprint: limit public photos/voice content, make social accounts private, restrict followers;
+ When receiving calls from institutions, hang up and call their official number;
+ Don't share sensitive information with online/phone-only contacts; and
+ Never send money or valuable assets to unknown people or online-only contacts.
Staying ahead of AI-powered fraud demands both awareness and vigilance. While technology evolves, the fundamentals of financial security remain constant: verify, question, and protect.
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Hosch & Morris, PLLC is a boutique law firm dedicated to data privacy and protection, cybersecurity, the Internet and technology. Open the Future℠.