Unless you live under a metaphorical rock, you’ve likely heard an increase in the use of terms like “AI,” “Chat GPT,” and “gen AI” over the last year. The artificial intelligence boom is in full swing. From businesses exploring how it can supercharge their workforce to individuals using it to ease the burden of everyday tasks, it has quickly become interwoven in so many facets of life – and has left us with questions and concerns.

When it comes to the use of generative AI, criminals are no exception, using these tools to facilitate their scams and create synthetic content that can be very convincing. While the Southern First team is always working hard behind the scenes to protect your assets, we also want to make you aware of these tactics so you can protect yourself.

Here are a few examples of content criminals are using AI to create to make their fraud schemes believable.

Images:

• Realistic images for fictitious social media profiles
• Fraudulent identification documents such as driver’s licenses or credentials
• Photos to share with a victim in private communications to convince the victim they are speaking to a real person
• Images of celebrities or social media influencers promoting counterfeit products
• Images of natural disasters to elicit donations to fraudulent charities
• Pornographic images of a victim to demand payment in sextortion schemes

Audio:

• Short audio clips containing a loved one’s voice in a crisis demanding financial assistance or a ransom

Videos:

• Videos for real-time video chats with alleged company executives, law enforcement, or other authority figures
• Videos for private communications to “prove” they are a real person
• Fictitious or misleading promotional materials for investment fraud schemes

How to protect yourself:

• Create a secret word or phrase with your family to verify their identity.
• Look for subtle imperfections in images and videos such as distortions, irregular faces, inaccurate shadows, lag time, watermarks, and unrealistic movements.
• Listen closely to the tone and word choice to distinguish a real voice from vocal cloning.
• Verify the identity of the person calling you by hanging up the phone, researching the contact, and calling their number directly.
• Never share sensitive information with people you have never met in person.
• Do not send money, gift cards, cryptocurrency, or other assets to people you have only met online or over the phone.

If you have fallen victim to a financial fraud scheme, report it to your banker immediately.