How to Protect Yourself From AI Scams
In recent years, artificial intelligence (AI) has sparked both excitement and concern. AI has advanced quickly, changing how we work, learn and stay entertained. Unfortunately, cybercriminals also use AI to trick and steal from people. For National Cybersecurity Awareness Month, we're looking at how AI is used in financial scams and how you can spot warning signs to protect your data, privacy, and money.
What is AI?
AI models are advanced computer programs designed to think and create like humans. They learn by studying large amounts of information, which helps them answer questions or make predictions. A type of AI called generative AI can create new things like text, images or videos by finding patterns in the data it's given. People use AI for many purposes, from professional research to creating content for fun.
How is AI used for financial fraud?
AI technology has made it easier than ever for scammers to carry out their schemes. For example, AI can quickly create large numbers of phising messages and its language tools allow criminals to translate these messages into any language to target people around the world.
Generative AI is also used to make fake social media accounts that look completely real. Scammers can create realistic profile pictures and fill their accounts with AI-made images and videos to make their accounts seem active and trustworthy. These accounts are often used in romance scams, where fraudsters build fake relationships to steal personal or financial information.
The FBI has also reported cases where criminals use AI-generated voice recordings to mimic a victim's loved one in order to trick or threaten them. In other cases, scammers have created fake images of disasters or wars to ask for donations from bogus charities.
How can I identify and prevent AI fraud?
The first way to protect yourself from AI fraud is through education. Stay informed about cybersecurity risks by attending public seminars, online courses or community workshops. Also, be cautious of any unexpected friend requests. You should never share confidential information with people you have only met online or on the phone as they could be cybercriminals assuming a false identity. Be mindful of the content you are posting online and who can see it. If you post large quantities of images, videos, and audio to a public social media account, a fraudster could use that content to train an AI-model to impersonate you.
Secondly, learning to spot AI-generated content goes a long way in reducing your risk of being scammed. While AI can create very realistic media, it still makes mistakes. AI-generate images might have small details that look off, like eyes that are too large, hands that look strange, or shadows in the wrong places. Videos made with AI can appear unnatural, especially around a person's mouth or eyes. AI-generated audio might sound slightly unusual, with odd word choices or an emotional tone that doesn't fit the situation.
If you think someone might be using AI to impersonate you, a loved one, or a C&N employee, take steps to confirm their identity. One helpful idea is to create a secret phrase known only to you, your family, and your C&N representative. You can use this phrase as the start of a call to verify that you are speaking to the real person and not an AI copy. If you ever receive an unexpected call from someone claiming to work at C&N, hang up and call us directly at 1.877.838.2517 to confirm.
It's also important to remember that legitimate financial institutions will never ask for certain information. At C&N, we will never ask for your passwords, PIN, or full card number by phone, email, or text. We will never ask you to click a link to verify your account, move money to "protect" your funds, or pressure you into action. If a message includes any of these elements, it is almost certainly a scam. When in doubt, pause and call us directly to verify. You will be glad you did!
I suspect that I've been scammed! What should I do?
If you suspect that you have been a victim of cyberfraud, quickly call your financial institution - they will work with you to secure your account. The longer you wait to report an incident, the less options there are to protect your information and your finances. We know the process of recovery can be overwhelming, so consider asking a trusted family member to help you through it. Secondly, you should report your experience to the FBI's Internet Crime Complaint Center at www.ic3.gov. The IC3 uses your report to protect consumers like you and prevent future fraud attempts.
At C&N, we are committed to navigating the ever-evolving digital landscape right alonside you - because we're in this together. C&N's Money Armor program is a library of curated resources, products and services designed to help you safely navigate the digital world. Whether you are an adult wanting to teach your teen about online safety or a business owner looking to write safe checks with confidence, C&N can help. Visit MoneyArmor Online Security today to learn more.