7 Classic Scams That Just Got Harder To Spot

Artificial intelligence (AI) is in the spotlight right now, and for good reason.

ChatGPT, an AI chatbot, acquired 100 million users within two months of launch and continues to improve at break-neck speed. AI platforms also are being used to make original songs using popular artists’ voices, perfectly mimicking their sounds and lyrical styles.

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AI also is creating original content and videos and even winning awards for photography. But there is a downside to AI that regulators are warning about: an increase in AI-based scams being used to steal money from unsuspecting victims.

Fraud cost consumers $8.8 billion in 2022, according to a report by the Federal Trade Commission.

Here are a few classic scams that have been boosted by the use of AI — and how to spot them.

IRS Scams

IRS scammers have been around for decades, pretending to be agents who need your personal information to set up accounts, get bigger refunds or avoid IRS penalties.

But, with the advent of AI, some of the telltale signs of IRS scams are harder to spot. A scammer will call or send a text message or email to inform you that they can help you set up an account to file taxes. Previously, these were fraught with misspellings and language errors that just felt “off.”

Now, with AI tools such as ChatGPT, scammers can formulate accurate sentences and information to coax victims into giving up their Social Security numbers, addresses and other personal information. This information is then sold to fraudsters who use it to sign up for credit cards or even file fake tax returns.

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Text Message Scams

Have you ever gotten a text message that seemed a bit … weird? Text message scammers have been at it since the start of SMS messaging, but now, with advanced online texting tools and AI, they are getting better (worse) at scamming.

A popular text message scam is a message appearing to be from your bank and typically saying something about your account being suspended and urgent verification being needed. AI tools can emulate banking text messages to make them look real, and phone number “spoofing” tools can send the message from your bank’s number.

The message typically includes a link to enter your information, which is then used to steal your identity. Banks usually don’t include a link in a text message and instead tell you to access your account online, through an app or at a branch. Also, make sure any links you click are secure and that they start with “https” instead of “http.”

Email (Phishing) Scams

Email phishing can involve a variety of scams, all with the ultimate goal of gaining access to your personal or bank account information. These emails historically have been littered with misspellings and typos; but, with tools like ChatGPT and others, scammers can create very convincing emails.

For example: You could get a very real-looking email claiming that you have won a prize and that the company just needs your bank info to route the funds. AI can be trained to avoid any flagged words or phrases that are typically filtered out by email providers.

Watch out for emails about missed packages, suspended accounts or anything that requires urgency or has a link to click to provide your bank account or personal information.

Online Shopping Scams

Online shopping is an easy target for scammers; unfortunately, they are getting very good at creating convincing websites with legitimate-looking checkout pages. Now, with AI tools, it’s easier than ever to create product descriptions and images automatically and also create online ads to fake products.

To avoid online shopping scams, always double-check when clicking through a social media ad to a website. Make sure it’s a real site and is secure (https only). Also, if the price is 80% lower than every other site for the product, it’s probably not real. If the payment method is a wire transfer or any other non-secure payment method, it may be best to avoid the purchase.

Dating Scams

There are many dating scams out there, with famous ones even getting their own Netflix specials (“The Tinder Swindler”). The premise is that someone contacts you via a dating app and you strike up a relationship virtually. Eventually, the person will ask for money to help you buy a car or to book travel for you or for some other urgent reason, and then the person will disappear once you wire the funds.

With the advent of AI, chatbots are becoming convincingly human, giving scammers the ability to carry on relationships without much interaction. They can then step in and ask for funds once the people on the other end are attached enough to fork over the cash.

It’s important to never wire funds to someone you’ve never met or that you aren’t legally connected to (such as by marriage). No matter how long you’ve “known” someone online, there is a potential for a scam, especially if the person asks for funds via an unsecured method (such as a wire transfer).

Student Loan Forgiveness Scams

With student loan forgiveness being such a hot topic, there are many scams popping up that claim to help you walk through the forgiveness process (for a fee).

These fraudulent emails and text messages steal government logos and have official-sounding email addresses and websites. But the bottom line is that they will ask for your banking information to pay for their “services.”

AI can help craft very convincing messages, such as prompting ChatGPT to “write this email as if it was coming from a government official.”

Always be wary of emails asking you to pay for a service to help with your student loans, and avoid any embedded links or forms asking for your personal or financial information.

Deep Fake Scams

A deep fake is when someone mimics another person to create a video or audio message that looks and sounds like the real person. This is where AI is getting scary good.

New tools can very accurately create a video and audio recording to look and sound like a celebrity or, even worse, someone you know. AI can be trained to look and sound like a friend or family member, making it hard for victims to tell the difference.

These scams can use familial relationships or friendships to create an urgent need and ask for banking info to help.

As always, don’t just give out personal information, but corroborate the story by calling the person directly or checking with someone who knows the person.

Bottom Line

Artificial Intelligence is making it harder to spot scammers and puts the most vulnerable among us even more at risk of being scammed. Knowing the what to look for and avoiding “in-the-moment” decisions can help save your identity and bank account from being hacked. Always talk it out with someone you trust before sending money or giving out personal information online.

This article originally appeared on GOBankingRates.com : 7 Classic Scams That Just Got Harder To Spot