AI Spoofed Sites Lead to $50 Million Investment Scams

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A long-running and large-scale internet-based fraud scheme netted around $50 million from dozens of investors over an eight-year period.

The perpetrators created 150 fake sites that targeted investors. These sites would tell the investors that they had multiple investment opportunities that they should take.

According to the court documents, these websites would have higher than normal rates of return on various investments. This attracted investors to these investment opportunities. They made the websites look like legit investment websites that are well-known.

Hackers can leverage artificial intelligence (AI) to create fake websites through several methods, making them more convincing and harder to detect. Here are some ways they might do this:

1. AI-Generated Content: Hackers use AI tools like GPT-4 to generate realistic text content for fake websites. This includes creating authentic-sounding product descriptions, customer reviews, blog posts, and other textual elements.

2. Deepfake Technology: AI can produce deepfake images or videos that appear to show real people endorsing or using a product or service. These can be used to create fake testimonials or promotional material.

3. Phishing Kits with AI: AI-driven phishing kits can dynamically generate phishing pages that mimic legitimate websites. These kits can adapt in real-time to appear more authentic, increasing the likelihood of tricking users.

4. Image Generation: AI tools can create high-quality images, logos, and graphics that enhance the visual appeal of fake websites. Tools like GANs (Generative Adversarial Networks) can generate realistic images that make the site appear more legitimate.

5. Natural Language Processing (NLP): NLP can be used to analyze and replicate the language style of legitimate websites. This helps in creating communication that appears genuine, such as emails, chat responses, and support messages.

6. Behavioral Analysis: AI can analyze user behavior to create personalized fake websites. For instance, by tracking browsing habits, a fake website can be tailored to look similar to frequently visited sites, increasing the chances of deception.

7. SEO Manipulation: AI tools can optimize fake websites for search engines, making them appear higher in search results. This increases the likelihood of users visiting these sites, thinking they are legitimate.

8. Chatbots: AI-powered chatbots can be integrated into fake websites to interact with visitors. These chatbots can provide convincing responses to queries, further establishing the site’s legitimacy.

These techniques make it easier for hackers to create sophisticated and convincing fake websites, which can be used for various malicious purposes such as phishing, spreading malware, or stealing personal information.

There Were 70 Victims and 150 Sites

The fraudsters pretended to be brokers who legit financial institutions employed. Victims would reach out to these brokers, thinking they were real. However, these scammers used many fraud schemes to hide their identities like using prepaid gift cards to purchase the web domain, using virtual private networks, encrypting their apps and phones, and creating fake invoices that would explain the large sums of money being transferred.

Scammers, Be Warned

The FBI continually warns investors about potential scammers and fraudsters on the internet claiming to be brokers or investment advisers. They issue statements explaining that many of these scammers falsely claim that they have all of the proper licenses and registrations with the Securities and Exchange Commission, state security regulators, and the Financial Industry Regulatory Authority (FINRA).

Investors should take the time to complete their research on the Investor.gov website. This way, investors can confirm whether the website is legit and whether the brokers are real. Also, there are three things that every investor should look out for before they fall prey to an investment scam:

1.    High Investment Returns: If a website promises that the investor will make high investment returns, this is most likely a fraud. There is always a risk when it comes to investing, which means that if there is going to be a high return, there will be an increased risk.

2.    Unsolicited Offers: When investors get unsolicited offers about earning an investment that seems to be ‘too good to be true,’ it is probably a scam.

3.    Investment Payment Methods: If someone sees that the website accepts digital asset wallets, credit cards, checks, and wire transfers, then this is probably a scam.

However, continue reading below to learn more about scams you should avoid on the internet.

The Most Common Types of Investment Scams on the Internet

Cryptocurrency Scams

Cryptocurrency is huge because the gains are huge. Which is also why so many people are being scammed out of their money when it comes to it.

It might be difficult to figure out which cryptocurrency website is legit and which one is not, unless you just use Coinbase. Many scammers have been taking advantage of the growing excitement around cryptocurrency and that it is less regulated than other forms of investment.

These scams are supported by paid advertising and posting on social media, making people think that they are honest brokers here to help you. When a person clicks on the post, they will be taken to either the broker or the fake website. These scammers will help the investor make their first investment or give them one to begin with.

Moreover, they use apps like Telegram and Discord to gain more victims. They also use online dating sites and engage in the “Pig butchering” crypto scam. They will encourage people to buy crypto through an exchange or a request. The person will need to send the money to them on their behalf so that they can complete the trade for them. Also, they will tell the victim that they will teach them how to trade and show them their ‘winnings’ on a fake platform.

People will look at this platform and think that they are winning but losing more money because they are continuously investing in it. However, when the person is ready to withdraw their money, there will be a delay or the site will be closed.

Unsolicited Contacts About Investing

Many scammers will pretend to be a broker or a portfolio manager when they email, call, or contact anyone on social media and offer them financial advice. Also, they may claim to be from a legit firm or company that is popular on the internet, but many are not. They do this, so they can appear to be more legit.

When they speak with the person, they will say they are offering them a low-risk investment, giving them high and quick returns. Also, they encourage people to invest in companies that are overseas. This offer will sound legit and look professional, making it harder for investors to pick up on.

Additionally, they are persistent, so they will keep contacting the person. Some will go as far as to say that they do not need a particular government license because they are a part of a genuine company. However, this is all false. The scammers who do this tend to complete cold calls for mortgages, shares, and real estate returns.

Endorsement Scams

With celebrity images and videos, many scammers can entice victims to invest. This has become very popular amongst the cryptocurrency schemes that see people losing thousands of dollars. There are two ways that they typically use celebrity images to scam people:

1.    An advertisement will be made with the celebrity’s image on social media or YouTube. They will claim that the celebrity invested a certain amount of money and made a good profit from it.

2.    Fake news stories are being made about celebrities and their investments. They will make it look like these stories are from a legit site like News.com or ABC News.

Ponzi Schemes

A Ponzi scheme is when the money those new investors put in is used to pay existing investors. There is no real investment, and these schemes usually disappear. Scammers will try to speak with people on social media. They will then ask them to download an app and begin investing.

Every scammer will tell the victim that they will see high returns quickly, which they end up seeing. However, this happens because other people have invested money into the scheme, and the victim is paid with someone else’s money. Then, the scammer will persuade them to make another investment because they’ve just seen a return.

Sometimes, they will encourage the victim to become a part of this scam without realizing it is a fake investment opportunity. Then, when the money dries up, or there are not enough investors, the scammer will disappear.

Share Hot Tips and Promotions

Scammers can encourage people to buy shares in a company that they think will increase in value. The victim may be contacted through social media or email, and the message may also be posted to a forum. They will make the message look like this is an inside tip and that the victim is one of the first people to be ahead of everyone on this ‘trend.’

However, the scammer is trying to boost the stock sales with more people investing in it. Then, they will sell their shares, the value will drop, and the victim will be stuck. The victim will also be left with worthless shares and no money.

Investment Seminars

Investment seminars can be promoted by scammers who claim to be motivational speakers and investment experts. Also, many ‘self-made millionaires’ will claim to know how to help victims make their investments. However, this depends on whether the person will follow a high-risk investment strategy.

This strategy means the victim will borrow large sums of money or buy property or investments. They will then lend this money out with no security, which is risky. The promoters can also charge the victim an attendance fee, sell them overpriced paperwork, and sell them property without getting any advice.

Conclusion

Before investing any money into an opportunity, make sure that they complete their research on the website, the broker, and the company. This will help keep people safe when it comes to investments.

ROBERT SICILIANO CSP, is a #1 Best Selling Amazon author, and the architect of the CSI Protection certification; a Cyber Social and Identity and Personal Protection security awareness training program.

AI Sextortion: The Crime Affecting Every Business and Everyone in SO MANY Ways

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Sextortion is EVERYONES PROBLEM. This isn’t just a children and teens thing, it’s adults too. The FBI says year over year this crime is increasing. And it’s affecting families, their livelihoods, and their businesses. Make no mistake, Sextortion affects you, our government, your organization, its security, your employees, their productivity, whether or not they may embezzle money from your organization to pay for the scammers demands and SO much more.

Sextortionist: “I Own You. I’m GoIng to RUIN you. I’m Publishing Your NOODS!”

The level of desperation in which the victims elevate to has resulted in multiple suicides. If a victim of sextortion is that distraught, that desperate, what other measures might they take? Where else might desperation direct them? How else might it mess with their lives? We’ve seen dozens, if not hundreds of examples of desperate people doing desperate things.

This author is in the new Netflix Series ASHLEY MADISON; Sex Lies & Scandal Episode 2 “We Got Hacked” @ 25:30 as an expert discussing the data breach on FOX NEWS. The show is trending on Netflix! I’m also briefly in episode three and in the credits. Whether or not you’re into these “juicy” salacious shows, my brief contribution is professional, and it demonstrates my expertise very well.

I bring up Ashley Madison because that site along with Grindr, Instagram, Facebook, and just about any other site, where human contact begins, and could result in nude photos being exchanged, are being targeted by criminals. Heck, it’s even beginning with the stupid lame text messages were getting now.

What is Sextortion?

Sextortion is a form of online sexual exploitation where a perpetrator threatens to share intimate or sexually explicit images or videos of a victim unless they comply with certain demands. These demands can range from extorting money to coercing the victim into producing more explicit content or engaging in other sexual acts.

Sextortion typically begins when a perpetrator gains access to sensitive images or videos of a victim, often through hacking, social engineering, or by convincing the victim to share the content themselves. The perpetrator then uses these materials as leverage to blackmail and exploit the victim.

The threats made by sextortionists can be severe, including publicly releasing the compromising content, sharing it with the victim’s family, friends, or employer, or even threatening physical harm. This creates an environment of fear and coercion, where victims feel compelled to comply with the demands to avoid the devastating consequences of having their private content exposed.

Artificial intelligence (AI) has exacerbated the severity of sextortion in several ways. The “victim” doesn’t even need to be “nude” to be a victim.

Artificial Intelligence Role in Sextortion

1. Creation of Realistic Fake Explicit Images: AI technology, particularly generative AI models can be used to create highly realistic and convincing fake explicit images of victims. These AI-generated images can be indistinguishable from real photographs, making the threats of releasing them more credible and increasing the leverage over victims.

2. Increased Reach and Scalability: AI can automate and scale up sextortion operations, allowing perpetrators to target a larger number of victims simultaneously. AI-powered tools can scrape social media for potential targets, generate fake profiles for grooming, and even automate the extortion process itself.

3. Targeting Minors: AI has made it easier for perpetrators to create fake explicit images of minors, putting underage victims at heightened risk of exploitation and severe psychological trauma. The FBI has reported an alarming increase in sextortion cases involving minors, with AI playing a significant role.

4. Deepfake Technology: AI-powered deepfake technology can be used to create realistic fake videos by superimposing a victim’s face onto explicit content, further increasing the credibility of the threats and the potential for harm.

5. Difficulty in Detection and Removal: AI-generated explicit content can be challenging to detect and remove from the internet, as it may not be flagged by traditional content moderation systems designed to detect real explicit material. This increases the potential for widespread dissemination and long-lasting reputational damage.

By leveraging AI, sextortionists can create more convincing and credible threats, target a broader range of victims, including minors, and operate at a larger scale, amplifying the psychological and emotional impact on victims and making it more difficult to combat this form of online exploitation.

Common Sextortion Tactics

Sextortionists employ various tactics to lure and manipulate their victims, including:

1. Hacking and Malware: Perpetrators may hack into the victim’s devices or accounts to steal private images or videos, or use malware to gain remote access and control over their webcams or files.

2. Catfishing and Online Relationships: Sextortionists may create fake online personas and engage in romantic or friendly conversations with the victim, gradually building trust and convincing them to share explicit content.

3. Impersonation and Deepfakes: In some cases, perpetrators may use deepfake technology to create realistic but fabricated explicit images or videos of the victim, which they then use for blackmail.

4. Sextortion Scams: Victims may receive unsolicited emails or messages claiming that the perpetrator has compromising videos or images of them, demanding payment to prevent the content from being released, even if no such content exists.

Victims of Sextortion

While anyone with a digital presence can potentially become a victim of sextortion, certain groups are more vulnerable:

Minors and Young Adults: Sextortionists often target minors and young adults, who may be more susceptible to online manipulation and less aware of the risks involved in sharing explicit content.

LGBTQ+ Individuals: Members of the LGBTQ+ community may be specifically targeted due to the potential for increased stigma and discrimination if their private content is exposed.

Public Figures and Celebrities: High-profile individuals, such as celebrities or politicians, can be lucrative targets for sextortionists seeking financial gain or leverage.

Consequences of Sextortion

Sextortion can have severe and long-lasting consequences for victims, including:

Emotional Trauma: Victims often experience significant emotional distress, anxiety, depression, and feelings of shame and humiliation.

Reputational Damage: The release of private content can lead to damage to the victim’s personal and professional reputation, as well as strained relationships with family and friends.

Financial Loss: Victims may face financial losses due to extortion demands or the need to seek legal assistance and counseling.

Legal Implications: In some cases, the production or distribution of explicit content involving minors can lead to criminal charges, even if the victim was coerced or unaware.

Preventing and Responding to Sextortion

Preventing sextortion requires a multi-faceted approach, including:

1. Education and Awareness: Raising awareness about sextortion tactics and the risks of sharing explicit content online can help individuals make informed decisions and recognize potential threats.

2. Cybersecurity Measures: Implementing strong cybersecurity practices, such as using secure passwords, enabling two-factor authentication, and keeping software and devices up-to-date, can help protect against hacking and unauthorized access.

3. Reporting and Support: Victims of sextortion should report the incident to the appropriate authorities, such as law enforcement agencies or cybercrime units, and seek support from counseling services or victim advocacy organizations.

4. Legal Action: In some cases, legal action may be necessary to hold perpetrators accountable and seek justice for the harm caused.

Sextortion is a serious form of online exploitation that can have devastating consequences for victims. It is important that we have “uncomfortable” conversations with each other about this crime and how it affects us and raise awareness to stop it from happening. By raising awareness, implementing preventive measures, and providing support and resources for victims, we can work towards combating this insidious crime and protecting individuals from falling prey to sextortionists.

ROBERT SICILIANO CSP, is a #1 Best Selling Amazon author, and the architect of the CSI Protection certification; a Cyber Social and Identity and Personal Protection security awareness training program.

How and Why “Fun” AI Generated Spam On Social Media Will Manipulate the 2024 Election

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The primary intention behind artificial intelligence (AI) generated spam on social media appears to be financial gain through deceptive means. Facebook algorithms are suggesting users to visit, view and like pages that are 100% artificially intelligent generated photos of people, places, and things that are simply not real.

Artificial Intelligence

The content includes too good to be true pictures of everyday people, their projects that are to most of us “extraordinary” in their nature. This might include a crudites made to look like the face of Jesus. Or someone crocheting a child’s amazing sweater, or something as simple as 103 year old woman’s birthday celebration. All fake, all designed to engage us. And that engagement is 100% trickery.

AI Enables High Volume of Engaging Content

AI tools like text and image generators allow spammers to produce large volumes of visually appealing and engaging content cheaply and quickly. This AI-generated content draws attention and interactions (likes, comments, shares) from users, signaling to social media algorithms to promote it further.

Driving Traffic for Monetary Gain

The engaging AI posts often contain links or lead to external websites filled with ads, allowing spammers to generate ad revenue from the traffic. Some spammers use AI images to grab attention, then comment with spam links on those posts. The ultimate goal is to drive traffic to these ad-laden websites or promote dubious products/services for profit. This same content can be directed towards the election process and fake websites containing photos, videos, and content to manipulate hearts and minds on why and who they should vote for.

Circumventing Detection

AI allows spammers to generate unique content at scale, making it harder for platforms to detect patterns and filter out spam. As AI language models improve, the generated content becomes more human-like, further evading detection.

Spreading Misinformation

While profit is the primary motive with social media related spam, AI-generated spam can also be leveraged to spread misinformation and false narratives on social media. Automated AI bots can amplify misinformation campaigns by flooding platforms with synthetic content.

In essence, AI provides spammers with powerful tools to create deceptive, viral content that circumvents detection while enabling them to monetize through dubious means like ad farms, product promotion, or even misinformation in election campaigns.

And spreading misinformation is exactly how generated artificially intelligent spam “socializes” the process of election manipulation. Over decades and decades, we have come to believe most if not everything we see, everything we read, and therefore we go deeper into the rabbit hole of fakery.

Joe Biden Deepfake in New Hampshire

In May 2024, a New Hampshire man named was fined $6 million by the Federal Election Commission for creating and distributing a deep fake audio clip that falsely portrayed President Joe Biden making controversial statements.

The man used advanced AI technology to generate a synthetic version of Biden’s voice, making it appear the President said things he never actually said. The deep fake audio was released online just weeks before the election and quickly went viral on social media.

The FEC determined the mans actions constituted an “expensive virtual disinformation campaign” aimed at undermining the election process. His $6 million fine is the largest ever levied by the FEC for such a violation of election laws prohibiting the distribution of disinformation and deep fakes intended to sway voters.

This case highlights the growing threat of deep fake technology being weaponized to mislead the public and interfere in U.S. elections. It has prompted calls for stricter regulations around the creation and dissemination of synthetic media.

Is There Any Way to Stop It?

There are several measures that can be taken to prevent AI from being used to spread misinformation during elections:

AI System Design

·         Implement robust fact-checking and verification processes into AI systems to ensure they do not generate or amplify false or misleading information.

·         Train AI models on high-quality, fact-based data from reliable sources to reduce the risk of learning and propagating misinformation.

·         Build in safeguards and filters to flag potential misinformation and disinformation attempts.

Regulation and Oversight

·         Enact laws and regulations governing the use of AI in elections and political campaigns to prohibit manipulative tactics.

·         Establish independent oversight bodies to audit AI systems for fairness, accuracy and resistance to misinformation.

Public Awareness

·         Increase public education about AI capabilities and limitations to raise awareness of artificial intelligence and deepfakes potential misuse.

·         Promote media literacy to help people identify misinformation and verify information sources.

Collaboration

·         Foster collaboration between AI developers, election officials, fact-checkers and civil society to share best practices.

·         Support research into AI-powered misinformation detection and prevention methods.

Ultimately, a multi-stakeholder approach involving responsible AI development, strong governance, public engagement and cross-sector partnerships will be crucial to mitigating the risks of AI-enabled misinformation during elections.

Robert Siciliano CSP, CSI, CITRMS is a security expert and private investigator with 30+ years experience, #1 Best Selling Amazon author of 5 books, and the architect of the CSI Protection certification; a Cyber Social Identity and Personal Protection security awareness training program. He is a frequent speaker and media commentator, and CEO of Safr.Me and Head Trainer at ProtectNowLLC.com.

Artificial Intelligence and Organized Crime Sitting In a Tree…

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K.I.S.S.I.N.G. First came love, then came marriage, then came the baby in the baby carriage! Sucking his thumb, wetting his pants, doing the hula – hula dance! And the BABY is a Boy!

The Yahoo Boys.

The Yahoo Boys are a notorious group of cyber criminals operating out of West Africa, primarily Nigeria. While most scammers try to stay under the radar, the Yahoo Boys are brazen – they openly advertise their fraudulent activities across major social media platforms like Facebook, WhatsApp, Telegram, TikTok, and YouTube.

An analysis by WIRED uncovered a vast network of Yahoo Boy groups and accounts actively sharing scamming techniques, scripts, and resources. There are nearly 200,000 members across 16 Facebook groups alone, not to mention dozens of channels on WhatsApp, Telegram, TikTok, YouTube, and over 80 scam scripts hosted on Scribd. And this is likely just scratching the surface.

The Yahoo Boys aren’t a single organized crime syndicate, but rather a decentralized collective of individual scammers and clusters operating across West Africa. Their name harks back to the notorious Nigerian prince email scams, originally targeting users of Yahoo services. But their modern scamming operations are vast – from romance fraud to business email compromise and sextortion.

The scams themselves are getting more psychologically manipulative and technologically advanced. Classic romance scams now incorporate live deepfake video calls, AI-generated explicit images, even physical gifts like food deliveries to build trust with victims. One particularly disturbing trend is the rise in sextortion schemes, with cases linked to dozens of suicides by traumatized victims.

Artificial intelligence (AI) is being exploited by cybercriminals such as the Yahoo Boys to automate and enhance various aspects of social engineering scams.

Here are some ways AI is being used in social engineering attacks:

1. Natural Language Generation: AI models can generate highly convincing and personalized phishing emails, text messages, or social media posts that appear to come from legitimate sources. These AI-generated messages can be tailored to specific individuals or organizations, making them more believable and increasing the likelihood of success.

2. Voice Cloning: AI can be used to clone or synthesize human voices, allowing scammers to impersonate trusted individuals or authorities over the phone. This technique, known as voice phishing or “vishing,” can trick victims into revealing sensitive information or transferring funds.

3. Deepfakes: AI-powered deepfake technology can create highly realistic video or audio content by manipulating existing media. Cybercriminals can use deepfakes to impersonate individuals in video calls or create fake videos that appear to be from legitimate sources, adding credibility to their social engineering attempts.

4. Sentiment Analysis: AI can analyze the language, tone, and sentiment of a victim’s responses during a social engineering attack, allowing the attacker to adapt their approach and increase the chances of success.

5. Target Profiling: AI can analyze vast amounts of data from various sources, such as social media profiles, public records, and online activities, to create detailed profiles of potential victims. These profiles can be used to craft highly personalized and convincing social engineering attacks.

6. Automated Attacks: AI can automate various aspects of social engineering campaigns, such as identifying potential victims, generating and sending phishing emails or messages, and even engaging in real-time conversations with targets.

While AI can be a powerful tool for cybercriminals, it is important to note that these technologies can also be used by security researchers and organizations to detect and mitigate social engineering attacks. However, the ongoing advancement of AI capabilities poses a significant challenge in the fight against social engineering and requires vigilance and continuous adaptation of security measures.

Insidious Meets Prolific

What makes the Yahoo Boys particularly insidious is their bold presence on mainstream social platforms. They use these as virtual “office spaces,” sharing step-by-step scripts, explicit images and videos of potential victims, fake profiles, even tutorials on deploying new AI technologies like deepfakes and voice cloning for their scams. It’s a massive con operation happening in plain sight.

Despite social media’s stated policies against fraud and illegal activities, the companies have struggled to keep up with the Yahoo Boys’ prolific output. Although the major platforms removed many of the specific groups and accounts identified by WIRED, new ones continue popping up daily, exploiting gaps in moderation and content policies.

Cybersecurity experts are sounding the alarm that social platforms are providing safe harbor for these transnational cyber criminal gangs to recruit, share resources, and execute increasingly sophisticated frauds with global reach and real-world consequences. While the “Yahoo Boy” monikers imply a relatively harmless group of young tricksters, the reality is a vast and dangerous network of techno-savvy con artists causing significant financial and psychological harm on an industrial scale.

Law enforcement and the tech giants are struggling to get a handle on this viral scamming epidemic. As new AI capabilities get folded into the Yahoo Boys’ arsenal of malicious tools and tactics, the need for a coordinated global crackdown is becoming more urgent. No longer just a nuisance of sketchy email schemes, this criminal community represents an escalating threat operating in the open on our most popular social media platforms.

I personally am getting ready to crawl under a rock, and maybe move into a cave deep in the woods of Montana to escape the onslaught of artificial intelligence scams. But maybe you are tougher than I am. If you are, I suggest adhering to these tips:

Here are 11 tips to protect yourself from AI-powered social engineering scams:

1.      Be wary of unsolicited communication, even if it appears to come from a trusted source. Verify the authenticity of the message or request through official channels. You know, pick up the phone. Send them a text message. Meet them in person.

2.      Enable multi-factor authentication for your accounts and devices to add an extra layer of security beyond just passwords. This has nothing to do with artificial intelligence scams. You should just do it because it makes you a tougher target.

3.      Keep your software and operating systems up-to-date with the latest security patches to mitigate vulnerabilities that could be exploited. Same, just do it.

4.      Be cautious of urgent or high-pressure requests, as these are common tactics used in social engineering attacks. This goes for all social engineering scams.

5.      Scrutinize the language and tone of messages for inconsistencies or anomalies that may indicate AI-generated content. If you feel your blood pressure going up, it’s fraud. It’s always fraud.

6.      Verify the authenticity of voice calls or video conferences, especially if they involve requests for sensitive information or financial transactions. Again, pick up the phone, be persistent, meet them in person and verify the authenticity not just by yourself, get others involved.

7.      Be skeptical of overly personalized or tailored messages, as AI can analyze your online presence to craft convincing lures. Every communication from a scammer is designed to get you to trust them. Do everything in your power to be skeptical.

8.      Educate yourself and stay informed about the latest AI-powered social engineering techniques and scams. Yeah, just read my newsletter. I’ll keep you up to speed.

9.      Implement robust security measures, such as email filtering, web content filtering, and endpoint protection, to detect and block potential threats. Your IT people should have systems in place. But even those systems can be compromised by human hacking.

10.  Report any suspected social engineering attempts to the relevant authorities and organizations to help identify and mitigate emerging threats. Those relevant authorities start with your internal people.

11. Cyber security awareness training educates employees about threats, best practices, and their role in protecting company data and systems. It reduces human error, promotes a security-conscious culture, mitigates risks, and enhances an organization’s overall cyber resilience.

By staying vigilant, verifying information, and implementing appropriate security measures, you can significantly reduce your risk of falling victim to AI-powered social engineering scams.

Robert Siciliano CSP, CSI, CITRMS is a security expert and private investigator with 30+ years experience, #1 Best Selling Amazon author of 5 books, and the architect of the CSI Protection certification; a Cyber Social Identity and Personal Protection security awareness training program. He is a frequent speaker and media commentator, and CEO of Safr.Me and Head Trainer at ProtectNowLLC.com.

Be aware of Artificial Intelligence Voice Cloning

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The proliferation of AI technologies like voice cloning and caller ID spoofing has opened up new avenues for fraudsters to exploit. By mimicking voices and masking their true caller identities, scammers can launch highly convincing social engineering attacks over the phone. This potent combination poses serious risks to individuals and organizations alike.

However, we aren’t defenseless against these emerging threats. Biometric voice authentication solutions that analyze unique voice characteristics like pitch, tone, and speech patterns can detect synthetic voices and unmask deepfakes. Additionally, advanced caller ID intelligence services cross-reference numbers against databases of known fraudulent callers to flag suspicious calls.

We are hardly not out of the woods though.

A gym teacher is accused of using AI voice clone to try to get a high school principal fired.

Worried About AI Voice Clone Scams? Create a Family Password.

Voice cloning technology has made it alarmingly easy for scammers to carry out voice fraud or “vishing” attacks. With just a few seconds of audio, criminals can generate highly convincing deepfake voices. When combined with caller ID spoofing to mask their real numbers, fraudsters can impersonate trusted entities like banks or family members on a massive scale and at little cost.

Voice cloning technology, powered by artificial intelligence, has opened up new avenues for fraud. One example involves impersonating someone’s voice to authorize fraudulent transactions. For instance, a scammer could clone the voice of a company executive to trick employees into transferring funds or disclosing sensitive information.

Another example is using voice cloning to create convincing fake audio recordings for political or social manipulation. By imitating the voices of public figures, AI-generated content can spread misinformation, manipulate public opinion, or even incite unrest. Such fraudulent activities undermine trust in media and institutions, leading to widespread confusion and division. These examples highlight the potential dangers of AI voice cloning in the wrong hands.

No one is immune – even highly rational individuals have fallen prey to elaborate ruses involving fictitious identity theft scenarios and threats to their safety.

As generative AI capabilities advance, audio deepfakes will only become more realistic and accessible to criminals with limited skills. Worryingly, over half of people regularly share voice samples on social media, providing ample training data for voice cloning models.

I recently presented to a large financial services firm, and one of the questions I was asked, was in regards to whether or not they should have their photos and their emails on their contact us page. My response was, not only should they scrub their photos and emails from their contact page, they should also change any voicemail messages and use a computer generated message, and then go to their social media pages and scrub any video they have in their personal or professional lives.

And while, that certainly appears to be “alarmist” this author is completely freaked out by the advancement of AI voice clone technology, and how effective it has become and how vulnerable we are as a result.

Just listen to this OpenAI that mimics human voices on CNN. It’s alarmingly perfect.

Businesses, especially those relying on voice interactions like banks and healthcare providers, are also high-value targets. A single successfully manipulated employee could inadvertently disclose seemingly innocuous information that gets exploited for broader access.

Fortunately, regulators globally are waking up to the threat and implementing countermeasures. This includes intelligence sharing, industry security standards, obligations on telcos to filter spoofed calls, and outright bans on using AI-generated voices for robocalls. We are still a long ways away, if ever , from preventing AI fraud.

Technological solutions like voice biometrics, deepfake detectors, anomaly analysis and blockchain are also emerging. All combined with real-time caller risk assessment provides a multi-layered defense. Deploying these countermeasures is crucial for safeguarding against the devious fusion of AI and traditional phone scams. With the right tools and vigilance, we can stay one step ahead of the fraudsters exploiting cutting-edge technologies for nefarious gains. However, scammers continually evolve their tactics, so a multipronged strategy with security awareness training is crucial for effective defense.

Businesses must enhance their cybersecurity capabilities around telecom services, instituting clear policies like multi-factor voice authentication. Regular employee training and customer education to identify vishing tactics are vital too. Collective action between industry, government and individuals will be key to stemming the rising tide of AI-enabled voice fraud.

By leveraging technology to combat technology-enabled fraud, organizations can mitigate risks and individuals can answer calls with greater confidence. In the AI age, fighting voice fraud requires an arsenal of innovative security solutions.

Robert Siciliano CSP, CSI, CITRMS is a security expert and private investigator with 30+ years experience, #1 Best Selling Amazon author of 5 books, and the architect of the CSI Protection certification; a Cyber Social Identity and Personal Protection security awareness training program. He is a frequent speaker and media commentator, and CEO of Safr.Me and Head Trainer at ProtectNowLLC.com.