AI Fuels Rise in Scams: How to Protect Yourself

Experts are raising concerns about the increasing role of artificial intelligence in facilitating scams. While scams have always existed, AI has made them significantly more believable, blurring the lines between reality and fabrication. This makes it easier than ever for scammers to deceive unsuspecting individuals.

The Growing Threat: Financial Losses Due to Scams

The Federal Trade Commission (FTC) reports staggering financial losses for Americans due to scams. In the 20232024 fiscal year, these losses ranged from $24 million to a staggering $158 billion. The rise of AI has dramatically lowered the barrier to entry for scammers, allowing them to operate with greater ease and sophistication.

Low Barrier to Entry for Scammers

Setting up a scam now requires minimal resources. Scammers simply need server or cloud space to operate and reach potential victims. The strategies used in these scams are constantly evolving and are notoriously difficult to track. This places a significant burden on individuals to recognize and avoid these deceptive schemes.

How to Spot and Avoid AIPowered Scams

While the landscape of scams is constantly changing, here are some practical tips to help you protect yourself:

Slow Down and Verify

The most crucial advice is to slow down. Scammers often create a sense of urgency to pressure you into making quick decisions without thinking. If you receive an unexpected request, especially one involving money, take a moment to pause and assess the situation critically.

Involve Another Person

If you're unsure about a situation, bring another person into the conversation. Talk to a trusted friend, family member, or colleague. An outside perspective can often help you identify red flags that you might have missed.

Contact the Original Source Directly

Cybersecurity experts emphasize the importance of contacting the original source directly. For example, if you receive a suspicious email purportedly from your bank, don't click on any links in the email. Instead, go directly to your bank's website or call them using a phone number you know is legitimate.

Remember: Prevention is Key

Staying informed and being vigilant are the best defenses against AIpowered scams. By slowing down, seeking outside opinions, and verifying information through original sources, you can significantly reduce your risk of becoming a victim.