Caution to Android and iPhone Users: AI-Powered Scammers Target Banks, Raising Trust Concerns

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Android and iPhone users have been warned by cybersecurity experts that their own ears may no longer be trustworthy. The rise of artificial intelligence (AI) has paved the way for scammers to use deep-fake technology in phone calls, targeting unsuspecting individuals to raid their bank accounts. Kaspersky Lab, a Russian cybersecurity and anti-virus software provider, has shed light on the issue of voice deep fakes in a recent blog post.

Voice deep fakes, also known as voice cloning or voice conversion, rely on autoencoders, a technology that compresses input data and learns to decompress it, ultimately restoring the original data. In the case of voice deep fakes, the AI program is fed two audio recordings—one with the original voice and words, and the other with the desired voice to be used. The program then analyzes the content of the first recording and the speaking style of the second recording, combining them to generate the desired voice speaking the words from the original recording.

While this technology may initially seem harmless or entertaining, it can be highly dangerous when misused. Kaspersky Lab has revealed that scammers have been exploiting voice deep fakes for years to target companies and individuals worldwide. In 2019, criminals successfully used AI software to create fraudulent money transfer requests, posing as the CEOs of an energy firm in the United Kingdom. The scammers not only made the initial request over the phone but also falsified two follow-up phone calls to confirm the transfer and request a second one. As the AI program mimicked the accent of the CEO, the staff was initially convinced of the legitimacy of the calls.

To protect themselves from such scams, smartphone users can take several precautions. Kaspersky Lab advises being vigilant and looking out for certain signs when receiving phone calls suspected of being AI-generated or deep fakes. These signs include unnatural pauses, unusual speech patterns, or a lack of emotion in the speaker’s voice. Additionally, it is crucial to verify any information provided through other channels, such as confirming money transfer requests in person with trusted sources.

If the caller claims to represent a specific company, it is advisable to conduct independent research to confirm their identity. Taking the time to investigate the legitimacy of a call can save individuals from falling victim to scammers. Furthermore, it is crucial to remain calm, as scammers often rely on surprise and panic to exploit their targets.

In conclusion, the increasing popularity of AI technology has introduced new risks to smartphone users. The exploitation of voice deep fakes by scammers highlights the importance of remaining cautious and vigilant. By understanding the potential dangers and implementing simple yet effective countermeasures, individuals can protect themselves and their financial assets from falling into the wrong hands.

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Neha Sharma
Neha Sharma
Neha Sharma is a tech-savvy author at The Reportify who delves into the ever-evolving world of technology. With her expertise in the latest gadgets, innovations, and tech trends, Neha keeps you informed about all things tech in the Technology category. She can be reached at neha@thereportify.com for any inquiries or further information.

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