AI is growing in practically every profession, and is touted as a valuable and efficient asset.
Officials report downsides, including business logo replication to steal personal and financial details and voice cloning for use in fake emergency distress calls.
Con artists out for money are adding this technology to a cache of tools to target potential victims – via unsolicited phone, text, or email messages.
Investment fraud attorney Courtney Werning said that with AI’s capability, scam artists can misrepresent a face, body or status with ease.
"The accessibility and effectiveness of artificial intelligence has thrown gasoline on a fire. Criminals can use AI and inexpensive digital tools to create convincing identities," Werning said.
Werning – a principal with the firm Meyer, Wilson, and Werning – said this technology allows one criminal to do the work that once required a lot of people.
Experts say scammers prey on basic human psychology, making it difficult for the average person to think about what's real or not.
Even if you receive communication from a person that you think you know, Werning suggested verifying the identity through a different channel, as you may not be dealing with the actual person.
For adults – upon learning they've lost money, or their reputation was compromised due to AI – they often feel shame and embarrassment, reinforcing a reluctance to report the incident.
Werning said victims should not play the blame game.
"I've seen sophisticated, educated, successful people fall victim to these scams – people who own businesses, engineers, a former CIA agent, doctors. The idea that a victim has to be intellectually deficient in some way is a dangerous perception," Werning said.
Gathering the scammer’s communication methods, wire transfer transactions, and identifying financial institutions used in the con is beneficial evidence to authorities.
Werning suggested before handing over any money when approached about an investment opportunity, check out brokercheck.finra.org. The free site lists every registered stockbroker in the U.S. and whether they are licensed to sell securities or give investment advice.
