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Consumers are being bombarded with a new wave of surrealism AI Scamand fraud Using technology and psychology to deceive even the savviest Brits.
“Generative” AI (artificial intelligence that creates new content) is now the tool of choice for scammers, powering deepfake videos of public figures, cloned voices of loved ones, and phishing emails tailored with stunning accuracy. Unlike previous scams, these scams look and sound very real.
Chris Ansley, Principal Fraud Santander’s Risk Management said: “Generative AI has opened the floodgates to a new wave of highly convincing scams that are nearly impossible to detect at first glance. As fraudsters become increasingly sophisticated, it is vital that people remain vigilant and think twice before engaging with ads or offers that seem too good to be true.”
Read on to learn about the latest artificial intelligence scams and how to avoid them.
AI voice cloning
Scammers can use artificial intelligence to replicate a person’s voice using only a brief audio clip. Using this technology, scammers can pretend to be a relative of the victim and call to inquire. moneyor impersonate bank employees to extract sensitive details or conduct authorized push payment (“APP”) fraud.
Spotting these fakes requires vigilance. If someone claims to be a family member, ask questions that only they will know the answer to, without revealing any sensitive information.
Be cautious if you receive a call out of the blue claiming to be from your bank asking you to transfer funds to a “safety account” or approve a transaction you don’t recognize. Slow down, independently verify the caller, and never transfer funds based solely on a phone call, text message, or email.
Stuart Morris, chief technology and product officer at SmartSearch, said: “Deepfake voices can now answer ‘customer service’ calls with a poise and phrasing that makes them sound like mid-range drama school graduates. Ironically, their professionalism gives it away: Real customer service departments rarely sound so calm, coherent or well-prepared.”
Deepfake videos
Which? An investigation last year found scam videos on YouTube using fake AI-generated videos of Prime Minister Sir Keir Starmer and financial journalist Martin Lewis to promote fraudulent investment schemes.
Deepfake Starmer falsely suggested that the investments were government-backed and risk-free, while the Lewis clone appeared to support the platform, claiming it was a tool available to citizens, helping thousands of people earn a daily income with just a £200 deposit.
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To spot deepfake videos, look for obvious flaws such as lip movements that don’t match the text, stiff or unnatural facial expressions, robotic voices, and visual flaws like inconsistent lighting or blurred edges.
Always check if the video is from a verified official account before trusting what you see.
romance scam
Scammers are increasingly using AI-generated images and voice notes to create authentic-looking dating profiles.
They are then used to build trust and emotional connection before ultimately asking for money.
Spotting fake dating profiles can be tricky, but there are usually warning signs. Scammers will often avoid video or phone calls and may be eager to express affection to gain trust quickly.
Maybe it goes without saying, but never send money to someone you’ve never met.
Artificial Intelligence Identity Theft
According to Cifas, artificial intelligence is driving a surge in identity theft across the UK. Fraud prevention services have warned that criminals are using artificial intelligence to forge documents, create synthetic identities and bypass verification systems.
Cifas advises consumers to take proactive steps to guard against AI-driven identity fraud. This includes regularly checking your credit file with agencies such as Experian, Equifax or TransUnion to detect any suspicious activity early.
You should also be cautious about sharing personal details online, as fraudsters can use even small snippets of information to construct synthetic identities.
Fake online retailers
Scammers can use artificial intelligence to set up fake online stores that look like real retailers.
With realistic logos, product images, and beautiful copy, these sites attract shoppers with great prices and then disappear once payment is made.
The rise of AI-generated retailers makes it even more important for shoppers to check for secure payment options, verified contact details and real presence before paying.
Kirsty Adams, fraud and fraud expert at Barclays, said: “Fraudsters are adapting quickly, using increasingly sophisticated tactics to exploit shoppers during peak sales periods. Acting quickly without checking can lead to serious financial losses. My advice is simple: pause, verify and never share sensitive information unless you are sure the retailer is genuine.”
When investing, your capital is at risk and your return may be less than you invest. Past performance is no guarantee of future results.