News reports are beginning to indicate that scammers are starting to use Artificial Intelligence (AI) technology. A quick Google search shows that one of the top ways scammers are using AI is to duplicate people’s voices and make ransom demands from family members. The scammers are also creating “deepfake” photos and videos and producing even more real-seeming fake emails.
According to securitymagazine.com, “AI is enabling fraudsters to automate previously time-consuming processes to fool businesses and consumers into thinking their outreaches are legitimate.”
With voice-mimicking, for example, “People can be easily convinced they are speaking to someone they know well,” securitymagazine.com said. Voice-mimicking is also a problem for businesses using voice verification.
The scammers are always adapting. It’s no surprise to imagine they are using AI. What can you do to protect yourself from this new threat?
First of all, be aware that it’s out there. Keep an eye on the news. Google “AI scams” every now and again so you can be aware of the latest ways that scammers are approaching people using AI. Be wary and skeptical. Don’t take alarming or odd contacts at face value.
One customer told us that she and her daughter have agreed on a “code phrase” they can use to confirm each other’s identity in case of a “fake voice” scam ransom phone call. That’s a good idea!
If you have any questions about protecting yourself from old frauds or new frauds, call Canton Co-operative at 781-828-8811 x5 or come see us. The Canton Police are also available 24/7 at 781-828-1212.
Canton Co-operative Bank is a member of the new Canton Anti-Scam Task Force. You can read President & CEO Nick Maffeo’s Canton Citizen column about the Task Force here.