Scam Attempts Ramping Up In Minnesota, Aided By AI
According to the Global Anti-Scam Alliance (GASA) reports over $1.03 trillion was lost to scammers in 2024 (via Experian). Scammers are increasingly using technology and exploiting recent disasters and events to extort money from unwitting victims.
Experian says there has recently been 'an explosion' in scams involving artificial intelligence. Scammers use this tool to intensify already existing scams.
Using AI, phishing scams can now be written using 'more convincing and natural sounding' emails and text messages. Nefarious actors also will use artificially-generated images to make ads on social media, eye-catching websites, fake identifications and even explicit images.
Those attempting to scam via video or telephone are also getting better at using fake or cloned voices.
The category of imposter scams casts a pretty wide net. Scams that fall under this umbrella are things like the 'grandparent scam,' where an elderly person is called by someone pretending to be their grandchild in jail or other trouble, and 'romance scams.'
The FTC says (via Experian) the median loss for this type of scam was $800. Government imposter scams have skyrocketed recently, with median losses of over $14,000.
Also on the rise are crypto currency scams, which have evolved over the years. The two main types of crypto scams are when someone pretending to be a celebrities or representative of a well-known website asking for 'investments' in a project.
The other involves accessing the victim's login information before emptying their account with a bot attack.
Other scams to watch for include employment scams that usually involve the victim using their money to 'get started' with the company before getting on the payroll (which never happens).
The FTC says reports about task scams, when you're hired to repeat simple tasks online, increased from about 5,000 during all of 2023 to 20,000 during the first half of 2024. You might be able to withdraw small amounts at first. But the scam occurs when you're told you can pay to increase your earning rate and that you have to deposit money to unlock larger withdrawals. You make the payments, but you can't get any of the money—or your supposed earnings—out.