Artificial intelligence is causing billions of dollars in fraud losses as criminals duplicate voices to break into credit cards and bank accounts.
The classic scam, where victims receive calls from loved ones asking for money, is made easier with AI, WBTV reports .
Cybersecurity expert Thomas Hyslip, who spent two decades in federal law enforcement with the Secret Service and the Department of Defense, said it only takes a few seconds to create a fake audio signal.
“Before they had to manually steal credit cards… Now with AI they can leverage what they already have to improve their ability to commit fraud…
There are cases where you can duplicate someone’s voice in 30 seconds and call them or use it to spoof voice recognition. Some banks now use voice recognition instead of phone numbers.”
Audit firm Deloitte predicts that fraud from generative AI will reach $30 billion by 2027, up from $12.3 billion in 2023.
In a statement to WBTV, the Federal Bureau of Investigation (FBI) advised people to be cautious when leaving personal information public, noting that hackers can now take seemingly insignificant videos or photos to carry out scams.
“AI-generated audio content is becoming harder to detect and easier to create, which could help criminals carry out successful scams against families, individuals, businesses, and financial institutions.
The FBI recommends that the public exercise caution when posting or direct messaging photos, videos, and personally identifiable information on social media, dating apps, and other online sites. While they may seem harmless when posted or Chia , these images and videos can provide bad actors with a rich source of content to find and target victims and exploit for criminal activity.”
