Each year as technology evolves into uncharted territory, new scams begin to emerge alongside them. Scammers, who are intelligent and creative manipulators, are constantly improving their tactics to make use of both changing societal pressures and new technological resources. This blog will review a few new scams to be aware of in 2024, and how new technology is changing some of the classic ploys.
New Tricks: Applications of Artificial Intelligence
Artificial Intelligence (AI) is a powerful and rapidly developing technology that is not yet fully understood or regulated. AI’s capabilities are extensive and include the creation of virtually unlimited content, audio, video, and imagery. Human users can input extremely detailed and specific prompts into AI tools which in turn, produce the desired text, images, or audio/video files.
The application of AI technology in the world of fraud is highly dangerous, as the ability to camouflage familiar tricks has expanded exponentially. It is increasingly difficult to recognize and distinguish even well-known scams and impersonations produced through AI.
Phishing Scripts and Chat GPT
One AI tool that many consumers are familiar with is Chat GPT. This is a chat program that systematically crawls the internet for information about a given topic and compiles that information into various forms. It can create a budget from provided income and expense data. It can create a meal plan based on dietary needs, grocery budget, and desired prep time for weekday meals. And, it can write better, more realistic phishing content than we’re used to seeing.
Phishing is the fraudulent practice of sending messages with the intent to collect sensitive information. This is sometimes direct, asking individuals for their bank or credit card information, and other times indirect, like texts and emails that contain dangerous links. In the past, an easy indicator of a phishing attempt was an email with poor grammar, punctuation, and spelling. However, with AI as the author, this will no longer be as easily identifiable.
Synthetic Media: Image and Audio Manipulation
Another AI-powered phenomenon is synthetic media, or video and audio that have been digitally altered to look or sound like something else. You may have heard of celebrity deepfakes, which are videos and recordings created by AI that represent someone’s voice or image so convincingly that it’s hard to tell if it’s real or not. Fraudsters can use synthetic media to create and manipulate video and audio for their own malicious purposes.
They can impersonate public figures, create fake evidence, and even mimic a familiar voice on the other end of the phone. Scammers can make robo-callers sound like real human beings who can even respond to real-time prompts and questions. These applications are not quite “commonplace” in the everyday consumer world, but with our new access to AI, the capabilities are within reach.
How to Avoid Scams
As the tactics and technologies used in scams change over time, there are still age-old behaviors and habits that will help you to recognize fraudulent tricks.
Be Skeptical
Anytime you receive an odd or unfamiliar communication, err on the side of caution. Delete and report fishy texts and emails. Ignore or hang up on spam calls.
Be Restrained
Don’t give out personal information. Don’t click links in unusual emails. Don’t open attachments. Assume there is not a package to pick up, a grandchild in need, or a refund to be collected. And if you suspect that there could be a real need, find another way to connect and verify. Contact your bank about a fraud alert, reach out to your friend about their grandchild, or research the business that sent a confusing receipt.
Be Smart
Operate with the highest level of security that you can (such as multi-factor authentication.) Trust your gut. Don’t give in to pressure. If it sounds too good to be true, it usually is. If anyone ever asks you for payment information, wire transfers, bank logins – hang up.
We have grown accustomed to technology in many ways, as it continually transforms our society. New technology provides ease and efficiency in our everyday world; it enables us to manage our daily lives, access information, and connect around the globe. We must remember, though, that creative and resourceful impersonators are also using technology for ease and efficiency in their malicious manipulations. With discipline and consistency, you can protect yourself and those you love most.
