It’s no secret that AI (artificial intelligence) is growing in its capabilities. Change is happening faster than ever, and it can be hard to keep up. However, scammers are taking advantage of this quickly evolving technology to trick you out of your hard-earned money. All they need is a short audio clip and they could commit a DeepFake or VoicePrint scam on an unsuspecting victim.

What is a DeepFake Scam?

In today’s world, it’s easy to find voice-cloning websites. Many fraudsters don’t even need to pay for the service as there are many adequate free voice-cloning websites out there. All scammers need is a three to five second video clip of an individual from a social media post or a phone call. After that, they can use AI through these websites to make someone say whatever they want. These attempts become more and more sophisticated each day and can have dire consequences.

Many scammers use this technology to target grandparents by convincing them their grandchild is in trouble. Others target business owners to make wire transfers or pay “overdue invoices.” Some are even setting up fake ransom calls where they pretend your loved one is being held hostage and they need money to release them. These types of scam calls can result in hundreds of thousands of dollars lost if individuals aren’t careful.

How Do I Protect Myself From DeepFakes?

While it can be very difficult to determine whether a phone call is voice cloned or not, there are some steps you can take to prevent yourself from becoming the victim of a DeepFake scam.

Whenever you receive a phone call, first:

• Don’t answer the phone if it’s a number you don’t know or a call you weren’t expecting.
• If you can, set up a code word that only your loved ones know. That way, if you receive a suspicious call, you can ask them to verify the code word before continuing with the call.
• If you are suspicious of the caller, hang up and call the person they’re claiming to be, using the number you know is theirs. If they don’t answer, try calling other close family or friends to get in contact with them. Do not send any money until you have verified their real whereabouts.
• If the person on the other end is becoming pushy, violent, or trying to rush you into making a decision, you have the right to hang up the phone. You can always call back if you determine it’s a legitimate call.
• If the person on the call wants you to send money in odd ways, such as cryptocurrency, bitcoin, wire transfers, gift cards, etc., this is likely a scam and you should hang up the phone immediately. No legitimate government agencies or businesses will request funds in these ways, no matter how convincing they sound.
• While it is difficult, do not let your emotions or the urgency of the caller stop you from thinking critically and verifying information with others not on the call.

What if I Become a Victim of a Scam?

Mistakes happen, and even the smartest people may fall victim to scams in their lifetime. Do not let the shame and fear of losing your money stop you from getting help. If you do end up sending money to a scammer, please:

• Call your local law enforcement to report the crime.
• Talk to your local banker to prevent scammers from accessing any more money through your accounts.
• Consider setting up a credit freeze.
• Report the scam to the FTC.
• Share your story with friends, family, and your community to prevent others from falling victim to the same scam.

While you may not get some or even any of your money back, reporting is an important step in preventing further scams and can safeguard any funds you have left. Remember: scammers target everybody, and it’s up to us to remain vigilant. If you have questions or want a second opinion on a scam call/text, you can always contact your local Availa Banker for assistance: Locations - Availa Bank.