The rise of Artificial Intelligence (AI) has brought incredible innovation to our lives, from facial recognition unlocking phones to smart assistants handling our schedules. However, AI also poses significant risks, such as phishing emails, deepfake videos, and voice simulations impersonating individuals. Seniors must be informed of AI fraud to prevent them from falling victim to such schemes.
Scams to Be Aware of in 2024
As AI technology advances, scammers are finding new ways to develop more intricate and believable schemes. It’s important to stay updated on these emerging tactics to protect yourself and your loved ones. These are some of the most prevalent AI scams to watch out for in 2024:
AI-Generated Email Phishing
AI-generated phishing emails are designed to look incredibly convincing, often mimicking legitimate communications from trusted organizations. The sophistication of AI means that these emails can include personalized details, making them even harder to detect. For example, a phishing email might use an email address like boss@cornpany.com instead of boss@company.com—a subtle but critical difference in spelling.
To stay safe, always verify the sender’s email address, look for any inconsistencies in the message, and avoid clicking on suspicious links. If you get an invoice for something you are confident you did not purchase, don’t click on the link or attachment; instead, go directly to your credit card account to ensure there are no fraudulent purchases. The same applies to money requests from apps like Venmo and PayPal; go directly to the source without clicking any links.
Chatbot Fraud
Chatbots have revolutionized customer service, but they can also be used maliciously. Fraudsters use AI-powered chatbots to engage with victims, extract personal or financial information, or direct them to phishing websites.
Red flags for scams include urgent requests, offers that seem too good to be true, or unusual language or grammar. A good rule of thumb is to not share sensitive information like passwords or credit card details through chat interfaces.
Deepfake Scams
Deepfakes are AI-generated audio and video clips that make it appear like someone is saying or doing something they never actually did. These can be used to create convincing scams. For example, a common scam involves someone calling and claiming to be a loved one in an emergency and needing money, often mimicking their voice. Instead of panicking and sending the money, you should verify the person’s identity, usually by calling them directly.
If you receive such a call, look for inconsistencies in video or audio quality, unusual behavior, or other red flags.
Investment Scams
Fraudsters may use AI to generate convincing investment opportunities, complete with fabricated data and endorsements from seemingly reputable sources. Be cautious of high-pressure sales tactics urging you to make a quick decision, and thoroughly investigate any investment opportunity and the company behind it. Be wary of offers that promise unusually high returns with little risk.
If you suspect an investment scam, immediately report it to regulatory authorities and financial institutions like the SEC or FINRA.
Social Media Manipulation
AI can generate and spread misinformation on social media platforms, influencing public opinion and manipulating users. This can include fake news stories, fraudulent advertisements, and the impersonation of trusted figures.
Limit your privacy settings on social media and only accept requests from known individuals. Always verify the credibility of the sources and accounts you follow as well.
At The Oberon House in Arvada, CO, we always prioritize your safety and well-being. Your security is our top priority. Contact us today to learn more.