Artificial intelligence can write an email, create an image, generate a video and even imitate someone's voice. While AI can be incredibly useful, scammers are also using the technology to make fraud more convincing.
That urgent call from a family member may sound real. A text from a familiar company may look legitimate. Even a video may not be what it seems. As AI makes it harder to tell what's real and what's fake, knowing how to slow down, verify a request and recognize the warning signs can help protect your money and personal information.
1. How Are Scammers Using AI?
AI isn't necessarily creating brand-new scams. Instead, criminals are using it to make familiar scams much more believable.
Scammers can use AI to create:
- Realistic emails and text messages
- Fake photos and social media profiles
- Convincing videos, sometimes called deepfakes
- Imitations of someone's voice
- Personalized messages using information found online
These tools can make it more difficult to recognize the spelling mistakes, awkward language or obviously fake images that once made scams easier to spot.
That's why one of the most important rules of fraud prevention today is simple: something that looks or sounds real isn't necessarily real.
2. That Familiar Voice May Not Be Who You Think
Imagine receiving a frantic phone call from someone who sounds exactly like your child, grandchild or another family member.
There's been an accident. They're in trouble. They need money immediately.
Your first instinct may be to help.
That's exactly what the scammer is counting on.
AI voice-cloning technology can be used to imitate someone's voice, sometimes using audio available publicly online. Scammers can then combine the fake voice with a familiar scam designed to create fear and urgency.
If you receive an unexpected call asking for money, hang up and call the person directly using a number you already know.
You can also establish a family safe word or phrase that can be used to verify someone's identity during an emergency.
3. AI Can Make Impersonation Scams More Convincing
Family members aren't the only people criminals may impersonate.
Scammers can pretend to represent:
- Your financial institution
- A government agency
- Your employer
- A business executive
- A utility company
- Law enforcement
- A company you regularly do business with
You may receive a realistic-looking email, text message or phone call telling you there's suspicious activity on your account or another urgent problem.
The message may ask you to click a link, provide personal information, share a verification code or transfer money.
Don't let urgency make the decision for you.
If someone contacts you unexpectedly, independently contact the organization using a phone number, website or app you know is legitimate.
4. How Can You Tell if Something is Real
Unfortunately, spotting AI-generated content may become increasingly difficult. Instead of trying to become an expert at identifying every fake voice or image, focus on verifying the request itself.
Watch for these warning signs:
- You're being pressured to act immediately.
- Someone asks you to keep the situation secret.
- You're asked to provide a password or verification code.
- Someone wants you to transfer money to “protect” it.
- You're asked to pay using gift cards, cryptocurrency or another unusual payment method.
- A message contains a link and urges you to log into an account.
- Someone discourages you from hanging up or contacting the organization yourself.
When something doesn't feel right, stop the conversation and verify it independently.
5. Slow Down Before You Send Money or Information
Scammers rely heavily on emotion. Fear, excitement, urgency and even romance can make people act before they have time to think.
One of your best defenses is simply slowing down.
Before sending money or providing sensitive information, ask yourself:
- Was I expecting this request?
- Can I verify this person another way?
- Why does this need to happen immediately?
- Why am I being asked for a verification code?
- Can I contact the company or person directly?
And remember: never move money because someone tells you doing so will “protect” it from fraud. That's a common scam tactic.
If you receive a suspicious message claiming to be from Nymeo, don't use the phone number or link contained in the message. Contact Nymeo directly through a trusted channel.
Protecting Yourself from the Age of AI
AI technology will continue to evolve, and unfortunately, so will the ways criminals try to use it.
But the fundamentals of protecting yourself haven't changed.
Be cautious with unexpected requests. Protect your passwords and verification codes. Don't send money because someone is pressuring you. And when you're unsure, verify the situation independently before taking action. A few extra minutes can make all the difference.
If you believe your Nymeo account or personal information may have been compromised, contact Nymeo as soon as possible so we can help you take the appropriate next steps.
Category: Financial Literacy & Safety
