AI Scams To Be Aware of in 2024

The start of a new year brings with it new opportunities and resolutions to outperform the previous year. Unfortunately, bad actors have also made a resolution to enhance the sophistication of their scams. Incorporating artificial intelligence (AI) in their schemes has made them more challenging to detect in the past year, and I anticipate even greater advancements in 2024. Keep reading to learn more about the latest AI scams you should be aware of to protect yourself and your business.

1. Rise of Vishing Scams

Vishing scams involve fraudulent phone calls where malicious actors may impersonate company leaders seeking sensitive information or  a distressed loved one urgently requesting money. These scams have seen an increase in prevalence over the past year and can be challenging to identify. Perpetrators collect voice samples, often from voicemails or online videos, and employ AI to replicate the person’s voice convincingly. “All they need is as little as 3 seconds; 10 seconds is even better to get a very realistic clone of your voice,” explained Mike Scheumack, CIO of IdentityIQ.

These scams can be distressing, especially when they “come from someone you care” about claiming to be in trouble. While the instinct may be to react quickly, it’s crucial to pause and verify the caller’s identity. Reach out to your loved one directly through their known number or message your boss through official channels, like Teams, to confirm the legitimacy of the request before taking any action.

A red flag for fraudulent calls is when the caller states that they cannot talk for long and urgently requests a specific action, like sending money or sharing company credentials. AI-generated audio snippets in these scams are typically generic, short and lack personal details, such as the recipient’s name. Stay vigilant for these signs to protect yourself from potential fraud.

2. Investment into AI scams

Bad actors have become aware of businesses increasingly investing in AI to help them enhance operations, meet revenue goals,  and the stay ahead of competitors. Because of this, a surge of investment in fraud AI scams has emerged. These scams target decision-makers with promises of high returns and  enticing them to recruit new investors for AI implementation and assured ROI.

Nicholas Crouch at Scams.info advises, “Exercise caution with investments that guarantee high returns with minimal risk and conduct thorough research before committing funds. Potential investors should also be wary of opportunities that involve recruiting new investors, as these often operate as Ponzi or pyramid schemes, primarily benefiting those at the top.”

3. Easy online job scams

Amidst tech layoffs and the job search rush in the new year, online apply scams are on the rise. Exploiting job seekers’ desperation, these scams promise great roles with excellent benefits and minimal job experience needed. After an easy application process, victims may be swiftly contacted for a phone interview or informed of their ‘new role’. Once ‘hired,’ individuals go through an onboarding process, divulging personal information like social security numbers, address and bank account information. Unfortunately, after providing this information, they realize too late that it was a scam as they are ghosted by their supposed ’employer.’

With the prevalence of remote work, distinguishing real companies from scams has become challenging without face-to-face interactions. Fake job postings, even on platforms like LinkedIn, can appear legitimate, thanks to AI generating fake companies, roles, and logos. When applying for jobs, be cautious and do your research. Does the company have employees listed on LinkedIn? Are these employees active and have fully fleshed out profiles? Does the business have reviews on websites like Glassdoor or Google? By taking these extra steps to verify the legitimacy of the company, you may avoid being a victim of this scam.

Start 2024 off right with a trusted provider

As the technology and security industry continue to shift, it is imperative that businesses work with a trusted provider to keep them informed of the latest security risks. Entara offers complete, integrated IT and cybersecurity solutions tailored to your company’s unique needs and challenges. In addition to the managed IT and cybersecurity services we offer as an eXtended Service Provider, our 24/7 incident response team works day, night, and holidays to help businesses recover from cyberattacks, including those that start due to an AI scam, and remediate their systems to avoid a repeat event. We employ a range of security best practices and technology services to better protect our clients’ system, network, and data, including advisory vCISO services. Connect with us today to learn more and protect your business, employees, and customers from cyber risks.

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