- AI is Supercharging Bank Fraud
What You Need to Know
Banks across the country have been reporting a dangerous new wave of fraud that combines AI voice cloning with sophisticated caller ID spoofing. In this scam, you receive a call that appears to be from your bank’s actual fraud department—the number on your screen may even match the one on the back of your debit card! Using a tiny sample of audio pulled from your social media or a previous “wrong number” call, the scammer uses AI to mimic a professional, helpful bank representative.
The AI “agent” will alert you to a suspicious transaction on your account. To “protect” your funds, they guide you through a series of steps to move your money into a secure government-backed account or a temporary safety vault. Because everything seems legitimate, victims are often pressured into authorizing wire transfers or Zelle payments to themselves—only to find the money has been routed directly into a criminal’s offshore account.
What You Should Do
- Hang up and call the bank directly. Immediately hang up unexpected calls from your “bank’s” fraud dept. Call your bank directly using their actual number and verify with them instead.
- Never verify any codes over the phone. If you get a multi-factor authentication or authorization code from your bank, never read that out over the phone. This prevents a scammer from resetting and stealing your password.
- Set up financial monitoring. Utilize a service to monitor your financial accounts and report back to you with any suspicious activity. It’s very likely your bank has a service like this in place, so it would be worth familiarizing yourself with what that looks like. If they don’t, a reputable service such as iDefend is a great backup.
Think you are being scammed? Call our scam hotline or email us for help:
(801)-724-6211
scamwatch@invisus.com
