AI-powered scams are on the rise, and unfortunately, so are the scam artists who employ them. The evolution of scams is becoming increasingly sophisticated, but being aware of their methods and techniques can help you continue to stay safe. Read on for more tips to avoid these modern-day scams.
Types of AI-powered scams
Deepfake
Scammers use deepfake technology to imitate someone a victim trusts, like a family member or CEO. They use AI to imitate a voice or create a video that appears to be the trusted individual asking for money in an emergency or requesting sensitive information. (“Vishing” is a form of deepfake).
Phishing
Phishing is the practice of sending fraudulent communications that appear to come from a legitimate and reputable source, usually through email and text messaging. The scam often involves an urgent request.
Smishing
Smishing (SMS phishing) is a type of scam where fraudsters send fake text messages designed to trick you into providing sensitive information, including:
- Account credentials
- Social Security numbers
- Credit or debit card details
These messages often appear to come from trusted sources, such as your financial institution or a government agency, and may urge you to take immediate action.
Vishing
Voice-phishing, or vishing, is an AI technology that allows a fraudster to imitate someone’s voice in a recording to ask for money. One of the most common scams today is the “grandparent scam,” where a criminal will simulate the voice of your grandchild and make up an emergency to request money.
How to protect yourself from AI-powered scams
Be aware of common online and phone scams. Your financial institution will never ask you to provide confidential information (access PINS, debit or credit card details) in emails or text messages.
- Scam emails, texts, and calls are often written to pressure you to respond. If you receive an urgent message like this, delete it and contact us directly.
- Avoid opening attachments in unexpected emails.
- Don’t use the same password across multiple accounts.
- Never share your username and password information.
- Do not use account numbers, your Social Security number, or other account or personal information when creating account nicknames or other titles.
- Take interactive, educational quizzes and watch videos about identity theft, phishing, spam, and online shopping scams at onguardonline.gov.
Stay proactive
Though AI is a convenient tool for scammers, knowledge is power. Stay informed, stay vigilant, and always verify your communications. Doing these things will keep you one step ahead of scammers, no matter how tech-savvy they are.
Attend a cyber workshop!
Our next Cyber and Fraud Prevention Workshop is in Taos, NM. You can register to attend here. Keep an eye out for future workshops posted on our website.
You can also check out our complimentary online tools to increase your financial knowledge:
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At Nusenda, your safety and security are our top priority. We love to keep our members informed and are committed to educating the community on cyber safety and more financial literacy topics to increase your financial confidence.