Artificial intelligence (AI) is revolutionizing the way we live and work. Unfortunately, though, it’s also revolutionizing the way scammers con unsuspecting victims into sharing their personally identifiable information and their money. Here’s what you need to know about AI fraud and how to protect yourself.

What is AI fraud?

AI fraud is the use of artificial intelligence to deceive or defraud individuals or organizations. When using artificial intelligence to pull off a scam, fraudsters use AI algorithms to create convincing fake identities, manipulate social media, generate realistic fake images and videos (AKA “deepfakes”) and more. The scammers then create fake social media profiles and email addresses using these bogus identities and footage. Often, they’ll pretend to represent celebrities or other famed personalities for soliciting money and information. 

In another form of AI fraud, scammers use social engineering tactics to trick people into giving them their personal information or money. They may create fake websites or emails that appear to be from legitimate sources, such as financial institutions or government agencies, and ask people to provide their personal information or login credentials.

AI fraud is especially dangerous because its sophistication makes it difficult to detect. Thanks to AI technology, scammers appear to be legitimate, increasing the likelihood that people will fall for their scams.

Types of AI Fraud

AI fraud is executed in several forms, including:

• Phishing
• Identity theft
• Deepfakes
• Fake news
• Social media manipulation
• Chatbot scams
• Fraudulent financial advice

Each type of AI fraud has its own unique characteristics and risks. 

Red flags

Are you being targeted by AI fraud? These red flags may be your first clue of an AI scam:

• Multiple unsolicited emails and/or text messages
• Being asked to provide personal information or login credentials by an unverified contact
• Unusual and/or unexplained activity on your social media accounts
• Receiving financial advice that seems too good to be true

If you notice any of these signs, it’s important to be cautious and investigate further. If the contact claims to represent a government agency, do not engage. Reach out directly to the agency that supposedly contacted you to see if the communication is legit. Follow the same steps if you’ve been contacted by an alleged representative of and something about the interaction has set alarm bells ringing in your head. It’s always better to be on the safe side when it comes to your personally identifiable information and your money. 

Protect  yourself

You don’t have to wait to be targeted by AI fraud to protect yourself from falling victim to these scams. Keep your money and information secure by following these precautions at all times:

• Never share sensitive information online with an unverified contact.
• Always check the URL of each landing page when banking online or using another platform to share sensitive information. Look for the “s” after the “http” and the padlock icon, as well as the correct spelling of the company’s website to ensure you haven’t been lured into a look-alike scammy site. 
• Use strong, unique passwords across all of your accounts. 
• Keep your device’s security on its strongest setting.
• Be wary of messages from celebrities asking for money or information.
• Use updated antivirus software on your personal devices.

If you’ve been targeted

If you suspect you’ve been the victim of AI fraud, it is important to act quickly to mitigate the damage. First, contact at to let us know your information has been compromised. Similarly, reach out to your credit card companies to let them know about the fraud. Next, report the fraud to the FTC so they can take appropriate measures in catching the humans behind the bot-generated scam. 

Finally, you’ll also want to change your passwords and login credentials and consider a credit freeze. Finally, if your identity has been stolen, reach out to identitytheft.gov to learn your next steps.

AI fraud is a growing concern, but there are steps you can take to protect yourself. Follow the tips outlined here and stay safe.

TikTok Inspo: Can you scam us? Use the info in this blog to impersonate an AI fraudster in a 15-second video.

Each individual’s financial situation is unique and readers are encouraged to contact the Credit Union when seeking financial advice on the products and services discussed. This article is for educational purposes only; the authors assume no legal responsibility for the completeness or accuracy of the contents.