February 29, 2024

3 Seconds is all it takes for AI scams to steal your voice

Concerns have been raised about an escalating threat from fraudsters using advanced AI technology to orchestrate scam calls. The ease with which these criminals can now impersonate loved ones using just a three-second audio clip sourced from social media or voicemails is particularly alarming.

The increasing prevalence of such cases worldwide suggests that AI voice impersonation is poised to become a significant player in the 70% of scams in Australia that rely on impersonation tactics. The risk of criminals exploiting sophisticated technology to manipulate victims, especially those who may be unsuspecting while enjoying leisure breaks.

The AI voice scams typically involve creating a sense of urgency, often by simulating distress calls from supposed family members in need of urgent financial assistance. This marks a notable advancement from the text-based scams observed in the past, such as the “Hi Mum” scam in 2022.

Scammers can gain remote access to a target’s computer through deceptive phone calls or web chats, allowing them to extract sensitive personal and banking information. This, in turn, can result in substantial financial losses in a matter of minutes.

The prevalence of scams involving impersonation of banks or financial institutions, enticing victims with promises of lucrative returns through fraudulent term deposit schemes. Notably, individuals have almost fallen victim to these scams, lured by impressive rates and professional follow-ups.

There is also the evolving nature of phishing scams, which now incorporate QR codes into emails or texts. Criminals exploit QR phishing by enticing recipients with messages related to undelivered packages or account issues, embedding malicious links within QR codes. These deceitful QR codes can be disseminated in various settings, including parking payment stations, restaurant menus, and signs for free public Wi-Fi.

The warning underscored the persistent threat of romance and ticket scams, wherein fraudsters manipulate emotions by capitalizing on individuals’ desires for relationships or the fear of missing out on events.

The above highlights the need for individuals to remain vigilant at all times.

Source: Accountants Daily

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