Artificial intelligence (AI) is revolutionizing the way we live and work. Unfortunately, though, it's also revolutionizing the way scammers play their games. Here's what you need to know about AI fraud and how to protect yourself.
What is AI fraud?
AI fraud is the use of artificial intelligence to deceive or defraud individuals or organizations. When using AI to pull off a scam, fraudsters use algorithms to create convincing fake identities, manipulate social media, generate realistic fake images and videos (AKA "deepfakes") and more.
The scammers then create fake social media profiles and email addresses using these bogus identities and footage. Often, they'll pretend to represent celebrities for soliciting money and information. Similarly, they may create fake websites or emails that appear to be from legitimate sources, such as financial institutions or government agencies, and ask people to provide their personal information or login credentials.'
AI fraud is especially dangerous because its sophistication makes it difficult to detect. Thanks to AI technology, scammers appear to be legitimate, increasing the likelihood that people will fall for their scams.
AI fraud comes in several forms, including:
Are you being targeted by AI fraud? Look out for these red flags:
If you notice any of these signs, it's important to investigate. If the contact claims to represent a government agency or financial institution, do not engage. Reach out to the agency that supposedly contacted you to see if the communication is legit.
Keep your money and information secure by following these precautions at all times:
If you've been targeted If you suspect you've been the victim of AI fraud, act quickly to mitigate damage. First, contact us through our Secure Contact Form or call 301-586-3400 to let us know your information has been compromised. Similarly, reach out to your credit card companies to let them know about the fraud. Next, report the fraud to the FTC so they can take appropriate measures in catching the humans behind the bot-generated scam. You'll also want to change your passwords and consider a credit freeze. Finally, if your identity has been stolen, reach out to identitytheft.gov to learn your next steps.
AI fraud is a growing concern, but there are steps you can take to protect yourself. Follow the tips outlined here and stay safe.
At Market USA, your financial security is our top priority. In an era where cyber threats continue to evolve, it is important to remain vigilant and informed about potential risks. Criminals use deceptive tactics to gain unauthorized access to personal information, including sensitive login credentials for your online banking account. By posing as representatives of financial institutions, scammers may try to trick you into revealing this critical information, rendering you vulnerable to identity theft and financial fraud.
The following guidelines can help you identify and avoid falling victim to these scams:
Smartphones are the answer to the disorganized life. You can buy anything with just a few swipes, schedule appointments and store your photos in this one, convenient spot. You can also manage your accounts, check balances and deposit checks through Market USA's mobile app. Unfortunately, all of that convenience comes at a price: Your mobile devices pose an inherent risk to your security if they fall into the wrong hands. Fortunately, there are ways to protect your phone and information.
Here are 6 tips for keeping your device safe and secure.
Market USA will never ask for your private and confidential information through email.
The Federal Trade Commission has warned of phishing scams involving credit union brands. In all phishing scams, the scammer poses as a legitimate business or service provider where the victim may have familiarity. In this case, they claim to represent Market USA. The fraudsters use social engineering, capitalizing on social norms to inspire trust and manipulate unsuspecting people.
The scammers usually communicate via email, but they may also use mediums like phone calls, text messages or social media. They convince the victims of their legitimacy by providing personal details about the victim that have been found online.
Next, the victim is lured into providing more information by the promise of compensation, or by claiming the victim needs to verify or update their account. Once the scammer has the information, they can empty the victim's accounts, track their online activity and/or steal their identity.
Alternately, the scammer may lead a victim into clicking on links that are embedded with spyware. The links go to a website that look just like Market USA's, but is actually bogus. Since the victim thinks they're browsing Market USA's site, they generally won't hesitate to input usernames and passwords.
You can recognize these messages as scams by remembering that we will never ask for sensitive information through insecure channels.
Unfortunately, hundreds of people are falling prey to phishing scams. Don't be the next victim! Here are four tips to help you protect yourself:
Similarly, the settings on all of your social media outlets should be as private as possible. Finally, all suspicious email addresses should be added to your computer's blacklist as quickly as possible. With good precautions and steps toward prevention, you can keep yourself safe from phishing scams!