Artificial intelligence is changing how we communicate, work and access information. While it is opening up exciting new possibilities, it is also giving malicious actors new ways to make fraudulent activity appear credible.
AI can make fraudulent emails, messages and even voice or video calls appear more convincing than ever. A message can be personalised, a voice can sound familiar and a request can be designed to create a strong sense of urgency or emotion. For individuals and families, this makes traditional warning signs increasingly difficult to recognise.
While AI has made some scams more sophisticated, overall scam rates have remained broadly stable. The bigger shift has been towards fewer but more carefully targeted attempts. This is why the fundamentals – pausing, thinking critically and verifying through a trusted channel – continue to be the most effective protection.
Further to our previous article on practical ways to support your personal safety online, we hosted a client webinar where two cybersecurity experts discussed the broader AI landscape and how individuals can best protect themselves online. We have summarised the key takeaways from that discussion here:
One of the most effective techniques used by malicious actors is to create pressure. You might be told that an account is at risk, a payment needs to be made immediately or someone you know needs urgent help. AI can make these approaches more convincing by helping to personalise messages and imitate the way a familiar contact might communicate.
Rather than focusing only on how convincing a message appears, which can be increasingly difficult to detect, you should also consider what it is asking you to do. It may ask you to click a link, open an attachment, share a password or security code or change bank details for an upcoming payment. Whatever the request, pause before responding. It is always acceptable to step away from a conversation and check that a request is genuine.
A reputable bank or wealth manager will never request your full online banking password or PIN, full card number or full security code by email, text or phone. They will also never ask you to share a one-time passcode (OTP) or verification code to “cancel a payment” or “reverse a fraud”. These are common fraud tactics. Genuine providers may occasionally ask for specific characters from a password, PIN or card number (for example, the second and third digits of a four‑digit PIN) to confirm your identity.
As AI-generated voices and video become increasingly sophisticated, hearing a familiar voice or seeing a familiar face should not necessarily be treated as proof of identity. If someone appears to be a family member, colleague or adviser and asks for money or sensitive information, use a separate route to confirm who you are dealing with. Call a number you already have saved or use another trusted channel, rather than replying directly to the original message. Families may also wish to agree a simple verification method, such as a shared safe word or a question that only close family members would know. This can provide an additional check if a relative contacts you unexpectedly from a different number.
Fraudsters may spend time researching individuals and their activities before making contact. Publicly available information can help them build a convincing picture of someone's life, while legitimate transactions, such as a property purchase, can provide an opportunity to make a targeted request.
This makes it particularly important to verify unexpected changes to payment details or requests for urgent transfers.
If bank details have changed or a payment request seems unusually time-sensitive, speak to a known contact using a trusted route before proceeding. Do not rely solely on the information contained in the message itself.
The more information that is available about you online, the easier it can be to create a convincing picture of your life. Social media posts, professional profiles and other publicly available information can reveal names, relationships, travel plans, workplaces or significant life events. Individually, these details may appear harmless, but together they can provide useful context to someone attempting to impersonate you or someone you know.
Review your privacy settings and consider what personal information you share publicly. Good digital security also starts with the basics such as, using unique, strong passwords or passphrases and turn on multi-factor authentication for important accounts, including email, banking and social media. Where available, passkeys and reputable password managers can provide additional protection.
AI tools can be useful for research and everyday tasks, but it is worth considering what information you are sharing and how the provider may retain or use it. Avoid entering confidential information and, where possible, keep queries generic or anonymised.
If you use AI tools to research financial queries, it is worth noting that the information is not always factually accurate or reliable. You can always verify a company’s regulatory status on the FCA firm checker.
Simply asking an AI tool a question about investing or another financial topic does not give a malicious actor access to your financial position or a record of your conversations. Someone would generally need to gain access through another route, such as a compromised password, phishing, malware or an unsecured device
The key remains to pause, consider and verify requests through trusted channels. An unexpected request does not need an immediate response, and if something feels unusual, take the time to check it independently before taking action.
For further free guidance, you can visit the National Cyber Security Centre’s Cyber Aware guidance, Take Five to Stop Fraud, and Report Fraud.
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