One of the prospects that have come with the growth of artificial intelligence (AI) has been the improvement of the various sectors through faster execution of operations and added features. However, every development comes with a cost and in this case, it is the rise of AI scams which have become a nuisance devoted to deceiving unaware users. In this piece, I will discuss the time scale of AI scams, the geographical locations that were the breeding ground of the scams, and the rising popularity of this harmful trend.
The Emergence of AI Scams
AI scams preferably began to be reported about the year 2020. This was the same period when the technology of deepfake and AI-generated content gained a widespread audience. Fake identities became an easy ploy for scammers as malefactors were able to replicate people, their voices, and even videos to defraud users. The latest reports point out that the first prominent AI scam is from 2019 when a London-based energy company’s CEO was conned over a €220,000 transfer into a Hungarian bank account after a scam deepfake impersonated the parent company’s director.
1. The First News Platform that Brought Attention to AI Scams.
LinkedIn is responsible for the first time when AI frauds first came into the limelight. This started as early as the beginning of 2020 when scammers created an AI-powered bot to develop fake profiles on LinkedIn and target professionals and businesses for phishing. Kaspersky documented this issue and other phishing scams revealing an increase of AI usage on professional social media channels. According to the report of the Federal Trade Commission FTC AI scams were liable for thrashings amounting to more than $2 billion globally in 2021.
Major Types of AI Scams
AI scams are of various types and here are just a few of the most common.
1. Deepfake scams:
Scammers use AI technology to generate hyper-realistic photos or videos of people to defraud, blackmail, or spread false information.
2. Voice cloning:
In a typical scenario, during a scam, cybercriminals impersonate the voices of a CEO, a politician, or even a family member to request money from the victim.
3. Phishing attacks:
Dupers operate bogus emails, text notes, or even phone calls to acquire sensitive information.
4. The Current AI-Powered Gmail Attack
Sam Mitrovic, a Microsoft keys advisor, has experienced a close encounter with what he calls a nifty real AI scam call that can intoxicatingly deceive even the most expert of users. As per Google’s statistics for 2024, the number of subscribers to the Gmail service is over 2.5 billion which are sophisticated phishing attacks.
How AI Scams Work
AI scams can use various techniques, but perhaps the most used technique is deepfake technology. This allows hackers and other fraudsters to forge audio or video clips that appear real to other people. Usually, con artists use this technique to impersonate a boss, a friend, or even a favorite celebrity. For example, some criminals have appeared on video calls as family members and demanded urgent money transfers. Other AI fraudulent techniques include voice phishing, which requires the use of AI to mimic the voices of contacts to extract personal or transfer money information.
How to Evade AI Scams?
AI scams are getting more advanced and therefore organizations and people need to educate themselves and take measures.
- Checking any unusual requests for money or information, especially if made by strangers.
- Guarding your account statements online with two-factor authentication.
- Monitoring news related to the newly devised AI schemes and strategies from cyber security firms like Kaspersky.
Conclusion
AI is advancing globally, and with that advancement, there have been scams arising from AI systems and they seem to be rising with time. These scams as more cases are reported every year necessitate the need for awareness and vigilance action measures. Cybercriminals are likely to use other means as the technology change. It is important to be aware of these AI scams and use good security practices to reduce the chances of being targeted.
