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Is AI Responsible for the Alarming Rise in Scam Compliance Rates?

TL;DR

  • Scammers are increasingly becoming sophisticated with their attacks using AI.
  • A recent survey showed phishing messages have become more realistic and grammatically correct, which used to be a red flag.
  • As a result, more people are losing money to scammers.

In today’s digital world, scams are becoming increasingly sophisticated. This has led to a concerning rise in scam compliance rates, raising the question: Is AI solely responsible for this alarming trend?

Is AI the Sole Culprit?

The answer is not so simple. But it’s undeniable that the rise of AI technology seems to have taken things a step further. Reports show scammers are now employing AI to create more sophisticated and effective scams, resulting in higher rates of engagement and monetary loss.

For one, the use of AI technology has armed scammers with more precision targeting. Some are able to leverage AI algorithms to analyze vast amounts of data, including social media profiles, public records, and online activity, to build detailed profiles of potential victims. 

With such information, the attackers can easily craft highly personalized phishing emails and messages that appear more believable and relevant to the recipient. Also, scammers can use AI to create realistic and grammatically correct text, making it difficult to distinguish legitimate emails from phishing attempts. 

A recent survey by McAfee, the antivirus software company, showed there are now fewer spelling mistakes and typos in phishing messages, which used to be clues that help people detect and avoid falling prey to scammers. 

Many People Around The World Are Exposed to Scams

The survey, which involved 7,000 individuals in seven countries, further revealed many people around the world, especially in the United States, are exposed to scams on a daily basis. The report estimated that a typical US consumer spends about 90 minutes a week dealing with scams.

About 45% of Americans who clicked on a scam message lost money as a result, per the report. 

The most convincing scam messages that led to the losses were those about winning prizes (25%), fake missed delivery or delivery problems, notification (20%), information about a purchase the recipient didn’t make (22%), and sign in and location verification messages (20%).

Staying safe from scammers would require vigilance and proactive measures. It’s important to approach any unsolicited communication with a healthy dose of scepticism, whether it involves emails, phone calls, text messages, or even social media posts. 

Another rule of thumb is never to click on links or open attachments from unknown senders. Even if the message appears to be from a trusted source, it could be a phishing attempt.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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