"I do think we're going to have to be more careful... that these technologies are being used. And we're talking primarily about voice here but this is true for images and video, as well. So, across the board, you are seeing AI-generated content being used to do all kinds of nefarious things. So now we have to start figuring out from the technology side, how do we put safeguards in place."
Hany Farid, Professor, UC Berkeley & Co-Founder, GetReal Labs
AI Voice Scams Are on the Rise. Here’s How You Stay Safe, Jan 2025 Terms of Service with Clare Duffy podcast, CNN Audio?
The Latest News
Gen AI fuels a new era of sophisticated identity theft and fraud.
- A TransUnion survey of 800+ business leaders found fraud losses devour 6.5% of revenue, totaling $359 billion. The rise of Gen AI has increased the scale and sophistication of cybercrime, particularly identity theft and fraud. Scammers are leveraging AI to craft convincing fraudulent schemes, making it challenging for individuals to discern legitimate communications from deceptive ones. Cybersecurity Ventures reports that global cybercrime costs have increased sharply from $3 trillion in 2015. AI-generated content led to over $12 billion in fraud losses in 2023, according to a Deloitte study, with projections suggesting it could surpass $40 billion in the US by 2027.?
Fake identities are exploiting safety gaps in banking.
- Gen AI's rapid rise has heightened cybersecurity risks, particularly in the financial sector, where deepfake fraud is surging. Bad actors are using AI to create convincing falsified identities, for example, a $25 million scam using deepfake technology to impersonate a CFO in a video call. The Treasury Department has issued alerts to help institutions combat such threats, but as cybercriminals exploit safety gaps, these sophisticated scams risk eroding trust and damaging reputations. The FBI has issued a warning about the increase of AI-driven scams. AI-generated videos and audio clips are being used to convincingly imitate real people, allowing criminals to impersonate family members, executives, or even law enforcement officials.
AI drives a new wave of real estate scams.
- Cybercriminals are using AI to facilitate real estate fraud through sophisticated schemes like seller impersonation and deed theft. Leveraging AI technologies, fraudsters can mimic property owners, creating fake identification and documents to illegally transfer property ownership without the owner's knowledge. This trend has led to significant financial losses and legal complications, as seen in high-profile cases involving properties like Spelling Manor and Graceland, where both properties were involved in title fraud.
Fraudsters are using AI to impersonate Elon Musk and steal victims’ savings through investment scams.
- In a recent case highlighted by AARP, scammers used AI to create deepfakes of Elon Musk endorsing fraudulent cryptocurrency investments. These videos were shared across social media platforms, mimicking reputable news outlets to appear legitimate. One victim, Ramsubhag, was deceived and suffered significant financial loss, ultimately losing his life savings. He reported the scam to the FBI and continues to seek resolution. This incident underscores the increasing sophistication of scams leveraging AI-generated content to exploit unsuspecting individuals.
Fake images flood social media amid LA wildfires.
- Amid the Los Angeles wildfires, AI-generated images and conspiracy theories have spread online, including false depictions of the Hollywood sign in flames and claims of plans to create a smart city. According to image forensic expert Dr. Hany Farid, fake images can put people at risk, making them unsure of where to go for safety and undermining faith in institutions. The Los Angeles Fire Department has been actively working to dispel these rumors, emphasizing the challenges posed by the rapid dissemination of inaccurate information online during crises.?
French woman scammed by celebrity deepfake.
- A French woman was scammed out of €830,000 by fraudsters posing as Brad Pitt. Anne believed she was in a relationship with Pitt for 18 months after being contacted on Instagram in 2023. Scammers made AI images of Pitt, including various pictures of him in a hospital bed, and convinced her to send money for fake emergencies.?
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