DIGIVESTASI - The Threat of Online Fraud Increases with the Use of AI Technology. Online fraud is becoming more alarming, especially with advancements in artificial intelligence (AI) technology that facilitate the actions of cybercriminals. One modus operandi being used is leveraging AI-based deepfakes to deceive victims, according to Braintrust CEO Adam Jackson.

In an interview with TheStreet, Jackson explained that fraudsters now use AI to create highly realistic deepfakes for phishing content. Phishing is a scam tactic that fabricates certain scenarios to lure victims into traps.

One example is a deepfake video showing billionaire Elon Musk promoting a certain crypto scheme. AI then spreads phishing emails targeting victims to invest in a crypto exchange, which does not perform as the deepfake video suggests.

"AI bots will spread fake content on social media to promote fraudulent schemes. These tools will create fake articles to manipulate market sentiment," Jackson said, as quoted by TheStreet on Thursday (June 20, 2024).

Jackson also revealed that AI can analyze large amounts of data, identify loopholes on crypto trading platforms, hack crypto account passwords, and even predict user behavior to execute its strategies.

"This campaign can increase investor optimism, trigger market volatility, and even drive panic selling. As a result, significant financial losses could be experienced by both individuals and institutions," he explained.

To avoid internet scams, Jackson offered several tips. First, never respond to emails from unknown individuals, especially if they involve money or crypto. Second, ensure your crypto accounts are protected with two-factor authentication, using tools like Google Authenticator, not phone-based authentication.

"Also, make sure to use unique passwords for your crypto accounts," he added.

Jackson also warned against being easily tempted by investment opportunities that seem too good to be true and encouraged people to report suspicious online activities to local authorities.

Stay vigilant against online scam tactics to avoid falling into traps that could drain your accounts!

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