How are financial fraudsters using Gen AI, and what can you do to protect yourself?
3 weeks, 1 day ago

How are financial fraudsters using Gen AI, and what can you do to protect yourself?

The Hindu  

The story so far: You may have received multiple warnings from your banks and other financial institutions about a surge in AI-driven crimes. Enterprising criminals exploit generative AI-powered text, images, videos, and audio to trap victims who lack technological proficiency or time and are too exhausted to thoroughly assess potentially hazardous content. They can also fabricate false photos of crucial documents, produce sexually explicit images for extortion, establish fake social media or dating app profiles, and even portray celebrities endorsing services and scams they would never support in real life, as per the FBI’s recent release. Additionally, be wary of surprise requests to carry out various financial activities, including redeeming gift cards, claiming prize money, paying fines, repaying loans, paying customs officials, or paying bail. Never share personal financial information with romantic matches, and never agree to transfer money, invest in cryptocurrency, pay customs charges for parcels, or accept gift cards.

Media Money Ai Gen Generative Ai Financial Fraudsters  ai  users  using  media  family  financial  fraudsters  generative  protect  money  aigenerated  create  gen  victims

History of this topic

GenAI increasingly powering scams, Wall Street watchdog warns
2 months ago

GenAI increasingly powering scams, Wall Street watchdog warns

Live Mint  

The Financial Industry Regulatory Authority said scammers are creating synthetic identification documents to help open fraudulent new brokerage accounts or take over customers’ existing accounts. Generative artificial intelligence tools are increasingly being used by swindlers in sophisticated ways to scam financial institutions, a Wall Street watchdog warned, calling the problem an emerging risk. Scammers are, for example, creating synthetic identification …

How scammers are using AI this holiday season to steal your money
3 months ago

How scammers are using AI this holiday season to steal your money

Live Mint  

The holidays are a bonanza for scammers preying on people eager for deals. Visa said the number of charges on its credit-card network blocked for potential fraud on Black Friday and Cyber Monday surged 200% globally from last year. AI is also helping scammers generate more fake online ads and shopping sites that entice people to share credit-card information. AI …

Fraudsters using AI to mimic children's voices to steal millions of pounds from unsuspecting parents
5 months, 2 weeks ago

Fraudsters using AI to mimic children's voices to steal millions of pounds from unsuspecting parents

Daily Mail  

Fraudsters are using AI to mimic children's voices in a new phone cash scam targeting parents with fake cries for help. Mumsnet internet forum founder Justine Roberts said: 'Hi mum scams, where fraudsters pretend to be a child needing help, are designed to prey on parents' emotions' Speaking to The Mail on Sunday, Fraud Minister Lord Hanson urged parents to …

Millions could be caught out by little-known AI voice imitation scam - and one major bank warns 28% of Britons have already been targeted
6 months, 1 week ago

Millions could be caught out by little-known AI voice imitation scam - and one major bank warns 28% of Britons have already been targeted

Daily Mail  

A sinister voice cloning scam is on the rise and millions of people could be at risk of getting caught out. Over a quarter of people say they have been targeted by AI voice cloning scams at least once in the past year, a survey of 3,000 people from Starling Bank shows. An AI voice cloning scam is a sophisticated …

How to Protect Yourself (and Your Loved Ones) From AI Scam Calls
11 months, 3 weeks ago

How to Protect Yourself (and Your Loved Ones) From AI Scam Calls

Wired  

You answer a random call from a family member, and they breathlessly explain how there’s been a horrible car accident. Hang Up and Call Back Security experts warn that it’s quite easy for scammers to make it appear as if the call were coming from a legitimate phone number. “You have to be proactive.” Whether it’s from your bank or …

Banks of the future will use AI to influence financial decisions, say experts
1 year, 2 months ago

Banks of the future will use AI to influence financial decisions, say experts

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Next-generation banks will use generative artificial intelligence to influence people’s financial decisions, spot …

Artificial Fraudulence: Lucknow man duped of Rs 45K by AI-cloned voice, second such instance in 2 weeks
1 year, 3 months ago

Artificial Fraudulence: Lucknow man duped of Rs 45K by AI-cloned voice, second such instance in 2 weeks

Firstpost  

More and more people in India are getting duped by scammers, who are using AI to generate a cloned voice sample of one of the victims relatives, and asking them to click on dubious links, or asking them for money In a troubling incident, a resident of Lucknow fell victim to a cyberthug who used artificial intelligence to impersonate the …

India tops the list for victims of AI-powered voice scams with 83% losing money, report reveals
1 year, 10 months ago

India tops the list for victims of AI-powered voice scams with 83% losing money, report reveals

Live Mint  

The increasing use and acceptance of artificial intelligence tools have made it simpler to manipulate images, videos, and voices of acquaintances and relatives. In addition, the report titled 'The Artificial Imposter' reveals that nearly half of Indian adults have either been a victim of or know someone who has fallen prey to some form of AI voice scam. As per …

AI-Generated Voice Deepfakes Aren’t Scary Good—Yet
2 years ago

AI-Generated Voice Deepfakes Aren’t Scary Good—Yet

Wired  

Amid the generative-artificial-intelligence frenzy of the last few months, security researchers have been revisiting the concern that AI-generated voices, or voice deepfakes, have gotten convincing enough and easy enough to produce that scammers will start using them en masse. The technology to create convincing, robust voice deepfakes is powerful and increasingly prevalent in controlled settings or situations where extensive recordings …

Discover Related