Introduction
Artificial Intelligence (AI) is rapidly transforming every aspect of our lives, and while it offers numerous benefits, it also presents new opportunities for scammers and fraudsters. These malicious actors abuse AI tools and technologies to devise new ways or enhance the effectiveness and scale of fraudulent activities. This includes generating convincing fake content, automating phishing attacks, and creating deepfakes to impersonate individuals, among others. According to a recent McAfee study, 83% of Indian victims targeted by AI voice scams suffered financial losses, with nearly 48% of them losing over ₹50,000. As digital scams and fraud become increasingly frequent and sophisticated, it is essential to understand these threats and take proactive measures to protect oneself.
Common Types of AI Scams in India
Some of the common tactics utilised by scammers/ fraudsters include:
- Advanced Phishing Techniques: AI is used to create sophisticated and personalised phishing emails that mimic legitimate communications from banks, e-commerce platforms, and even government services.
Courtesy: https://www.crowdstrike.com/en-us/cybersecurity-101/social-engineering/how-to-spot-a-phishing-email/
- Deepfake Technology in Fraud: Scammers and fraudsters use AI to create convincing images, audio video to spread false information that appears to come from trusted sources. A 2024 report by Pi-Labs states that Deepfake cases in India surged by 550 per cent since 2019. Another Report titled ‘The Artificial Imposter’ by McAfee notes that nearly half of Indian adults have either been a victim of or know someone who has fallen prey to some form of AI voice scam.
Courtesy: https://x.com/Cyberdost/status/1768614679977337031/photo/1
- AI-Driven Investment Schemes: Scammers and fraudsters exploit the growing popularity of AI to trick people into making risky or fake investments. These malicious actors claim that their platforms use AI to guarantee high returns, or they might promote unregistered investment services posing as legitimate firms. These scams can also include fake websites, AI-generated videos or voice recordings impersonating company executives, celebrities, or even government officials. Some fraudsters also use AI to spread false information or manipulate online content to appear credible.
- Fake Customer Service Bots: Fraudsters create fake customer service websites and chatbots to collect account details or direct users to fraudulent payment portals.
Quick Tips to Staying Safe from AI Scams
- Be wary of unexpected messages: If you receive a message or an email out of the blue, especially one with a link, pause and verify before clicking.
- Always use official channels: Whether you’re contacting customer support, booking travel, or making a payment, stick to trusted websites and apps. Avoid engaging with unsolicited messages offering help or investment tips.
- Don’t fall for ‘too good to be true’ offers: Be wary of promises of quick money or guaranteed returns. While considering an investment, consult a trusted financial advisor or conduct some independent research first.
- Strengthen your digital defences: Use strong, unique passwords and enable two-factor authentication wherever possible. Antivirus software is useful in blocking dodgy websites and phishing attempts.
- Keep your personal information private: Scammers often use details from your social media to tailor their approach. Sharing less online makes you a harder target.
- Watch out for fakes: AI can create videos and audio clips that look and sound real. If something feels off such as unnatural facial movements or a strange tone of voice it might be AI-generated.
- Stay informed and report suspicious activity: Regularly review your bank statements for any unusual transactions, and stay alert to emerging scams. If you come across something suspicious, don’t hesitate to report it. Government resources like www.cybercrime.gov.in, Sancharsaathi, the National Cybercrime Helpline at 1930, or social media handle @Cyberdost can help you report online fraud and stay informed about the latest threats.
