Since ChatGPT's inception in November of last year, it has consistently shown to be helpful, with people all around the world coming up with new ways to use the technology every day. The strength of AI tools, however, means that they may also be employed for sinister purposes like creating malware programmes and phishing emails.
Over the past six to eight months, hackers have been observed exploiting the trend to defraud individuals of their money and information by creating false investment opportunities and scam applications. They have also been observed using artificial intelligence to plan scams.
AI scams are some of the hardest to spot, and many people don't use technologies like Surfshark antivirus, which alerts users before they visit dubious websites or download dubious apps. As a result, we have compiled a list of all the prevalent strategies that have lately been seen in the wild.
Phishing scams with AI assistance
Phishing scams have been around for a long time. Scammers can send you emails or texts pretending to be from a trustworthy organisation, like Microsoft, in an effort to trick you into clicking a link that will take you to a dangerous website.
A threat actor can then use that location to spread malware or steal sensitive data like passwords from your device. Spelling and grammar mistakes, which a prominent corporation like Microsoft would never make in a business email to its clients, have historically been one of the simplest ways to identify them.
However, in 2023 ChatGPT will be able to produce clear, fluid copy that is free of typos with just a brief suggestion. This makes it far more difficult to differentiate between authentic letters and phishing attacks.
Voice clone AI scams
In recent months, frauds utilising artificial intelligence (AI) have gained attention. 10% of respondents to a recent global McAfee study said they have already been personally targeted by an AI voice scam. 15% more people claimed to be acquainted with a victim.
AI voice scams use text-to-speech software to create new content that mimics the original audio by stealing audio files from a target's social network account. These kinds of programmes have valid, non-nefarious functions and are accessible online for free.
The con artist will record a voicemail or voice message in which they portray their target as distressed and in need of money desperately. In the hopes that their family members won't be able to tell the difference between their loved one's voice and an AI-generated one, this will then be transmitted to them.
Scams with AI investments
Scammers are using the hype surrounding AI, as well as the technology itself, in a manner similar to how they did with cryptocurrencies, to create phoney investment possibilities that look real.
Both "TeslaCoin" and "TruthGPT Coin" have been utilised in fraud schemes, capitalising on the attention that Elon Musk and ChatGPT have received in the media and positioning themselves as hip investment prospects.
According to California's Department of Financial Protection & Innovation, Maxpread Technologies fabricated an AI-generated CEO and programmed it with a script enticing potential investors to make investments. An order to cease and desist has been given to the corporation.
The DFPI claims that Harvest Keeper, another investment firm, collapsed back in March. According to Forbes, Harvest Keeper employed an actor to pose as their CEO in an effort to calm irate clients. This demonstrates the lengths some con artists will go to make sure their sales spiel is plausible enough.
Way forward
Consumers in the US lost a staggering $8.8 billion to scammers in 2022, and 2023 is not expected to be any different. Periods of financial instability frequently coincide with rises in fraud, and many nations worldwide are experiencing difficulties.
Artificial intelligence is currently a goldmine for con artists. Although everyone is talking about it, relatively few people are actually knowledgeable about it, and businesses of all sizes are rushing AI products to market.
Keeping up with the most recent scams is crucial, and now that AI has made them much more difficult to detect, it's even more crucial. Following them on social media for the most recent information is strongly encouraged because the FTC, FBI, and other federal agencies frequently issue warnings.
Security professionals advised buying a VPN that detects spyware, such NordVPN or Surfshark. In addition to alerting you to dubious websites hidden on Google Search results pages, they both will disguise your IP address like a conventional VPN. It's crucial to arm oneself with technology like this if you want to be safe online.
