In today’s tech-driven world, scams have become increasingly sophisticated, fueled by advancements in artificial intelligence (AI) and deepfake technology. Falling victim to these scams can result in severe financial, social, and emotional consequences. Over the past year alone, cybercrime victims have reported average losses of $30,700 per incident.
As the holiday season approaches, millennials and Gen Z shoppers are particularly vulnerable to scams, including deepfake celebrity endorsements. Research shows that one in five Americans has unknowingly purchased a product promoted through deepfake content, with the number rising to one in three among individuals aged 18-34.
Sharif Abuadbba, a deepfake expert at CSIRO’s Data61 team, explains how scammers leverage AI to create realistic imitations of influencers. “Deepfakes can manipulate voices, expressions, and even gestures, making it incredibly convincing. Social media platforms amplify the impact as viewers share fake content widely,” Abuadbba states.
Cybercriminals often target individuals as entry points to larger networks, exploiting relationships with family, friends, or employers. Identity theft can also harm professional reputations and financial credibility. To counter these threats, experts suggest practical steps to protect yourself and your loved ones.
Scammers are increasingly impersonating loved ones through texts, calls, or video to request money.
With AI voice cloning making such impersonations more believable, a pre-agreed safe word can serve as a verification tool. Jamie Rossato, CSIRO’s Chief Information Security Officer, advises, “Never transfer funds unless the person uses your special safe word.”
If you receive suspicious calls, particularly from someone claiming to be a bank or official institution, verify their identity.
Lauren Ferro, a cybersecurity expert, recommends calling the organization directly using its official number. “It’s better to be cautious upfront than to deal with stolen money or reputational damage later,” Ferro adds.
Identity theft is the most reported cybercrime, making MFA essential. This adds an extra layer of protection by requiring both a password and a one-time verification code. Experts suggest using app-based authenticators like Microsoft Authenticator for enhanced security.
Real-time alerts from your banking app can help detect unauthorized transactions. While banks monitor unusual activities, personal notifications allow you to respond immediately to potential scams.
The personal information and media you share online can be exploited to create deepfakes. Liming Zhu, a research director at CSIRO, emphasizes the need for caution, particularly with content involving children.
Awareness remains the most effective defense against scams. Staying informed about emerging threats and adopting proactive security measures can significantly reduce your risk of falling victim to cybercrime.
As technology continues to evolve, safeguarding your digital presence is more important than ever. By adopting these expert tips, you can navigate the online world with greater confidence and security.