Artificial intelligence-enabled voice cloning tools have made it easier for criminals to mimic the voices of strangers and dupe victims into paying large sums of money.
For example, a scammer may target a victim posing as their grandchild and claim they need cash – fast. Older people who are not familiar with new technologies like AI may be especially vulnerable to these types of scams, especially when the person calling on the other line sounds similar to a loved one. Phone numbers can also be spoofed to mimic callers, known to be the target of voice cloning scams.
According to the FBI, in 2023, senior citizens were defrauded of approximately $3.4 billion in various financial crimes. dataThe agency recently caution AI has increased the “credibility” or deterrence of criminal scams, as they “assist in content creation and can correct human errors that might otherwise serve as warning signs of fraud.”
Also commonly known as the “grandparent scam”, a fraudster will impersonate a person's loved one and claim they are in trouble, or need quick cash for some type of emergency. .
“A lot of it is based on psychology and hacking the limbic system,” Chuck Herrin, field chief information security officer at security and fraud prevention firm F5, told CBS MoneyWatch. “They say things that trigger a fear-based emotional response because they know that when humans are afraid, we become stupid and don't make the best decisions.”
How to create a family safe word
Good news? Cybersecurity experts and law enforcement officials have a simple, but effective recommendation to avoid falling victim to such scams: a protocol for verifying the identity of a family member or loved one, as well as a family “safe word.” ” Make.
This means choosing a word or phrase that is not easily guessed. Experts say obvious identifiers like street name, alma mater or other information that might be easily available online are ill-advised.
“It has to be unique and something that's hard to guess,” James Scobey, chief information security officer at Keeper Security, told CBS MoneyWatch. “This should not be something that can be researched about you or your family online. Avoid street names, towns, phone numbers and personal names as part of the pass phrase.”
A safe phrase, consisting of at least four words, provides more protection, he said.
Verify caller identity
Following a basic routine that includes using safe words is a good first line of defense against scammers.
F5's Herrin told CBS MoneyWatch, “This is a gang operation, they don't care about you, they just care about poor security. They're churning out thousands of people they found on the dark web.” Comparing cybersecurity threats to physical vulnerabilities, he said, “If you have the proper security posture, you'll probably be OK. But if you leave the window open, you'll lose your TV.”
Whenever you are asked for financial assistance, the caller will be required to verify your identity. Key: Always ask for a safeword before transferring any money.
“Family safe words can be a really useful tool if used correctly,” said Eva Velasquez, CEO of the Identity Theft Resource Center, a nonprofit focused on ID security.
Velasquez gave the example of a fake grandchild calling his grandparents and saying something like, “I'm in jail and need help, and I'm so upset I can't remember my password.” In a stressful or emotional moment, the victim may be inclined to give it to the person in distress, putting themselves in danger.
“I think they can be very useful tools, but you have to explain to the family how it works so they don't do it willingly,” he said. “We have had some incidents where the victim will say the safe word first rather than letting the other person say it.”