Have You Been Scammed by AI? How ChatGPT and Other Tools Could Fool You Out of Your Money
Written by
Heather Taylor
Edited by
Molly Sullivan
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Not too long ago, one could identify whether a scammer was using AI in a phishing attempt. Typically, this attempt would be in the form of a poorly written piece of messaging. Most would recognize this as spam and report it.
Today, however, AI is becoming increasingly sophisticated. If you’re not careful, certain forms of AI technology can be used to steal your savings and personal information.
Here’s how three types of AI tools can fool you out of your money.
ChatGPT
The AI tool ChatGPT is used for everything from writing an essay for school to drafting social media posts at work. While this can be a big help for students and employees, fraudsters are utilizing ChatGPT for the wrong reasons.
According to Alisdair Faulkner, co-founder and CEO of financial security startup Darwinium, tools like ChatGPT mean poor spelling and grammar are a thing of the past. With the right inputs, scammers can create perfect, convincing messaging in seconds. This makes any social engineering scam efforts even more convincing and reproducible at scale.
Deepfakes
Deepfakes produce convincing voice and video replicas to fool people into sharing confidential information or making money transfers. Small snippets of audio and video recordings are used to make it look or sound like something true was being said even though it was not and is actually fake. Deepfakes are among some of the most ubiquitous AI tech used by scammers.
“These can be used in voice recordings to a relative, or even video messages, making a request for money or information more legitimate than a simple text message or email,” Faulkner said.
AI Chatbots
Scammers may also use AI chatbots for an added layer of credibility.
Faulkner said these can be programmed to allay a victim’s fears about parting with information or money. This adds an illusion of legitimacy to a fake website or service that is controlled by the fraudster.
What Should You Do If You Think You’re Being Scammed?
As AI tools become more powerful, it can be difficult for people to spot scams or cyberattacks. One of the best ways to determine if you are being scammed is to take a moment to pause. Faulkner recommends asking yourself the following questions.
- Am I expecting this communication?
- Would my bank ask me for this information?
- How can I verify the legitimacy of the request?
If you are in doubt about any of the answers, don’t execute the transaction.
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