These days, it seems like AI — artificial intelligence — is everywhere. Unfortunately, scammers use AI tools in their nefarious schemes to part you from your hard-earned cash. In fact, some estimates suggest the global cost of cybercrime could top $10 trillion in 2025. AI will not doubt help fuel that growth.
Some AI scams feel unique, but AI also powers new twists on old themes. Here’s what to watch out for.
1. Voice cloning
A fraudster needs only 3 seconds of audio to imitate a loved one’s voice convincingly. More than half of adults share their voice online or in recorded notes weekly, according to digital security firm McAfee, so it wouldn’t be a stretch for a scammer to call you with a clone of a family member’s voice.
Often, these calls are urgent, spinning a tale of distress due to a car accident or robbery. You send money using a link they provide, and it’s gone.
If you receive a phone call from someone asking for money, tell them you will call back in a few minutes. Then, call the loved one’s number as it’s saved in your phone or reach out to a mutual relation to find out more.
2. Phishing
While phishing (especially email phishing) isn’t a new scam, the way some fraudsters use AI is making it more sophisticated.
Thanks to generative AI tools, it’s easier for scammers to create scripts that more closely mimic the way companies and others communicate. Thanks to AI, the spelling and grammar clues that used to give away phishing scams are largely gone.
However, you can still spot these scams. Sometimes, the AI isn’t exactly spot-on, so if something feels off, investigate further. Additionally, avoid clicking on a link in an email that takes you to a log-in page. Instead, go to the official site or call the number you have in your records.
3. Deepfakes
Deepfakes use AI to simulate real people or create fake people to trick you into sending money or directing you to a website where they can collect your personal information. These deepfakes might include celebrities selling products or AI images generated after a disaster to spoof charities.
In some cases, deepfakes are even used in romance scams. An AI-generated person can feel “real” when you get on a video call with them. You might feel more comfortable sending money after having a video conversation.
Be wary of buying products from a social media link or influencer. If you want to give to a charity, use a site like Charity Navigator to vet the organization and go directly to their website. Finally, be careful about sending money to someone you meet online.
4. AI websites and fake products
AI makes it easier than ever to get a website up and running.
Some scammers create these websites to “sell” fake products and services. You might get an email advertising a popular item at a low cost. You follow the link to the website, it looks legitimate and you make a purchase. But you never receive the item. Or, in some cases, you get a cheap knockoff, but now the scammer has your personal information and can use your payment information to make their own purchases.
Be careful when a deal seems too good to be true. When making payments, use a credit card. If the charge turns out to be fraudulent, you can dispute it and at least get your money back.
5. CEO scam
With this scam, someone uses AI to impersonate a CEO or other executive in order to get you to reveal information through email. Nonprofit organizations might also be targeted.
For example, I am on the board for a local nonprofit, and someone sent an message to a volunteer, pretending to be me. In the message, which sounded similar to my writing, they asked the volunteer to buy gift cards and mail them to an address.
With the help of AI, fraudsters can learn a little bit about a CEO or nonprofit director, get information about a company or mission and then send emails to people using publicly available information.
In my case, the volunteer thought something seemed fishy and contacted me through other means. If you get a message from your CEO asking you to send information or make a specific payment outside the norm, contact your HR department or supervisor to verify the request.
6. Listing scams
AI can also make it easier to perpetrate listing scams. Using AI-generated images and captions, it’s relatively easy to post an item “for sale” in a marketplace. You inquire after the item and might be told to send a “deposit” to “hold” the item. You Venmo or Zelle the money — and never hear back.
Some scammers even go so far as to use AI for rental property scams. You’re directed to a website where they can steal your information when you think you’re paying an application fee or making a deposit.
Double-check how you’re being asked to pay or make deposits. In many cases, you probably can’t get that money back if you send money using Venmo or cryptocurrency.
Anytime someone pressures you into sending money immediately, take a step back. If you’re suspicious about a website, email, phone call or other communication, look into it and go straight to what you know is a trusted source.
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