Artificial intelligence (AI) is now easily available and often free.
But this means fraudsters are seizing the opportunity to use AI to scam people. This includes creating credible text messages, emails and social media posts.
Underneath this, though, the scams at work are nothing new. The technology available to fraudsters simply helps them make their scams more convincing.
We're uncovering how scammers are using AI to trick us. Plus, we've got tips from our in-house fraud expert on how to identify and avoid scams that have been made with AI.
Fraudsters typically use generative AI tools - tools that generate text, images, sound, and video in response to prompts - to create scam content. They do this in a few ways.
A deepfake is when a fraudster makes themselves appear to be someone else. They use AI tools to digitally alter their appearance and voice. The results can be very convincing.
Deepfakes can make it seem like a well-known personality or public figure is saying something they aren't. This can range from politicians expressing views that could damage their reputation to celebrities endorsing or promoting something that's really a scam. Here are a few examples of how deepfakes have been used in scams:
Using a familiar face and voice means people are more likely to trust what they see and fall for the scam.
Voice cloning is when a person’s voice is recorded and then replicated by AI to say anything that the fraudsters want. When it’s used in scams, voice cloning can be distressing and difficult to resist.
In a voice-cloning scam, you receive a call that appears to be from someone close to you, like a child, a sibling, a parent, or a good friend. The caller will be very upset and panicked. They may say they’ve been abducted or are in another emergency situation.
Eventually, they’ll reveal that they need you to send them money to help them out of the trouble they’re in. Because you believe this cloned voice is really them, you send the money however they ask for it. But your loved one was never in any danger, and the money never reaches them. Instead, it gets stolen by a scammer.
AI is also increasingly being used in phishing scams. In these scams, fraudsters message you, pretending to be a person or company you trust, like HMRC or your bank. They'll invent a reason you need to click a link in the message, where you'll be asked to provide personal or financial information that can then be used to commit fraud.
Phishing messages are often characterised by bad spelling and sentences that don't make sense. But with AI, fraudsters can craft well-written, convincing messages that make scams much harder to spot.
We spoke to our in-house fraud expert, Ben Fleming, about the best ways to avoid an AI scam. Here are Ben's top tips:
This is the golden rule of scam-spotting. Whether it's an email from HMRC promising you a massive refund or a celebrity promoting a lucrative investment opportunity, if it seems too good to be true, chances are it's a scam.
Because voice-cloning scams can be so alarming, it's a good idea to set a "safe word" with your family and friends. This word should be something that's difficult for a stranger to guess but is easy for you to remember. For example, you could use a word that's linked to a memory you share. Then, if you get a call from a loved one in trouble, you can ask them for your safe word to be sure it's really them.
Even though AI gives fraudsters new ways to make their scams more convincing, under the surface, they're still using the same tactics. A voice cloning scam is only a more advanced (and upsetting) version of a fraudulent email from a 'friend' claiming they're stranded abroad and need money to get home. So, all the same scam-spotting tricks apply:
If you come across an AI scam, it's important that you report it as soon as you can.
And if you think you've been the victim of an AI scam:
Sources
https://www.which.co.uk/consumer-rights/advice/how-to-spot-and-avoid-ai-scams-aaDn52A8nDhR
https://www.bbc.co.uk/news/uk-66130785
Disclaimer: We make every effort to ensure that content is correct at the time of publication. Please note that information published on this website does not constitute financial advice, and we aren’t responsible for the content of any external sites.
Helen is a personal finance editor who’s spent 11 years (and counting!) in the finance industry. She creates content on everything money with the goal of getting people thinking – and talking – about their finances in ways they may not have done before.
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