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<ul><li>69% of Indians cannot distinguish between fake and real voices.</li><li>Fake voice messages of friends and family members are sent by scammers who pretend to be distressed.</li><li>Below, read about some tips for identifying AI voice calls and how to protect yourself from AI voice call scams.</li></ul><keyword id="127849" type="General" weightage="80" keywordseo="mcafee" source="Orion">McAfee</keyword> has released a report called ‘The <keyword id="17300707" type="General" weightage="20" keywordseo="artificial-imposter" source="Orion">Artificial Imposter</keyword>,’ highlighting how the rise of artificial intelligence (AI) technology is facilitating an increase in online voice scams. The study was conducted in seven countries, including India, and involved 7,054 participants. The survey shows that a majority of Indians, more than half (69%), cannot distinguish between an AI voice and a real voice. Nearly half (47%) of Indian adults have either experienced or know someone who has experienced some sort of <keyword id="17300703" type="General" weightage="20" keywordseo="AI-voice-scam" source="Orion">AI voice scam</keyword>, which is almost twice the global average of 25%. Additionally, 83% of Indian victims reported a monetary loss, with 48% losing over ₹50,000. <cmsannotation type="cmsannotation" annotationid="Voice cloning scams on the rise in India" comment="subhead" text="Voice cloning scams on the rise in India">Voice cloning scams on the rise in India</cmsannotation> According to McAfee, voice cloning scams are rising in India, with cybercriminals using AI technology to manipulate the voices of friends and family members. The report states that 86% of Indian adults share their voice data online at least once a week, making voice cloning an increasingly powerful tool in the hands of scammers. The study found that 69% of Indian adults cannot distinguish between a cloned voice and the real one, making it easier for scammers to trick people into falling for their schemes. The most common type of voice cloning scam involves scammers sending fake voicemails or voice notes pretending to be someone in distress or even calling victims' contacts directly. According to the report, more than half (66%) of Indian respondents said they would reply to a voicemail or voice note purporting to be from a friend or loved one in need of money, particularly if they believed it came from a parent (46%), partner or spouse (34%), or child (12%). Messages claiming that the sender had been robbed, involved in a car incident, lost their phone or wallet, or needed help while traveling abroad were most likely to elicit a response. AI voice scams can be difficult to detect, but there are some signs to look out for: <ol><li>Urgency: Scammers often create a sense of urgency, claiming they need help immediately.</li><li>Request for money: Scammers may ask for money or request that you transfer funds to a particular account.</li><li>Unusual behavior: The scammer may claim to be in distress or in an unusual situation.</li><li>Changes in the tone of voice: The voice may sound different from the person you know, or the tone may be inconsistent with the situation.</li><li>Unusual requests: The scammer may ask for personal information or login credentials.</li></ol>It is important to stay alert and cautious when receiving unexpected calls or messages, especially if they involve requests for money or personal information. If in doubt, verifying the person's identity by calling them back on a trusted phone number is always a good idea. Here are some steps you can take to protect yourself from AI voice cloning scams: <ul><li>Be wary of unexpected calls or messages from friends or family members. If you receive a request for money or personal information, take a moment to confirm your identity through another channel of communication, such as texting or video calling.</li><li>Keep your personal information private. Avoid sharing sensitive details about your life on social media or other public forums that cybercriminals could use to clone your voice.</li><li>Use strong and unique passwords for all your online accounts, including social media and email. Enable two-factor authentication whenever possible.</li><li>Regularly update your antivirus software and update your operating system with the latest security patches.</li><li>Be cautious when clicking on links or downloading attachments from unknown sources. These could contain malware that could give cybercriminals access to your device and personal information.</li><li>Educate yourself on the latest cyber threats and stay up-to-date on recognizing and avoiding them.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/tech/news/what-are-vishing-scams-that-start-with-a-namaste-and-end-with-monetary-losses/articleshow/99762900.cms">What are ‘vishing scams’ that start with a Namaste and end with monetary losses</a> <a href="https://www.businessinsider.in/tech/news/sony-wh-ch720n-headphones-review-featherweight-comfort-and-impressive-sound/articleshow/99911412.cms">Sony WH-CH720N headphones review: Featherweight comfort and impressive sound</a>

7 out of 10 Indians are unable to identify AI voice call scams, and half fall for scams with monetary losses

Eddie Cumberbatch was sitting in his Chicago apartment in April when he received a frantic call from his father. As soon as he heard his dad's voice, Eddie, a 19-year-old TikToker, knew something was up. His dad asked whether Eddie was at home and if everything was all right. "That was a really weird way for him to start off the call," Eddie told me.After Eddie said he was safe at home, his father asked whether he had been in a car accident. Eddie was baffled — not only had he not been in a wreck, but he hadn't driven in six months. His father was relieved, but Eddie was confused: Why did he think he had been in a car accident?His dad explained that someone had called his house phone from a foreign number. When Eddie's grandfather picked up, it sounded like Eddie on the phone. This "Eddie" said he had been in a car accident and needed money immediately. Fortunately for Eddie's family, his father was immediately suspicious of the call. When his father found Eddie's grandfather on the phone and heard about the incident, he called Eddie to verify the story. He knew it was out of character for Eddie to ask for money — plus, Eddie didn't even have a car in Chicago. His dad's call to Eddie confirmed that it hadn't been Eddie on the phone. In truth, his family had been the target of a terrifying new scam: The fraudsters used an artificial rendering of Eddie's voice to try and bilk his loved ones out of cash.Impersonating someone to steal money is nothing new. Known as impostor scams, these schemes are the most common type of scam in the US, according to <a href="https://www.ftc.gov/news-events/news/press-releases/2023/02/new-ftc-data-show-consumers-reported-losing-nearly-88-billion-scams-2022" target="_blank" rel="noopener">the Federal Trade Commission</a>. People reported losing $2.6 billion to imposter scams in 2022, an increase from $2.4 billion the year before. But new technology is making imposter scams even more pernicious. In March, the FTC said tricksters were starting to use artificial intelligence to supercharge "family-emergency" schemes in which scammers convince people that their family member is in distress so they can get cash or private information. In an April <a href="https://www.mcafee.com/content/dam/consumer/en-us/resources/cybersecurity/artificial-intelligence/rp-beware-the-artificial-impostor-report.pdf" target="_blank" rel="noopener">survey</a> of adults in seven countries conducted by the global security-software company McAfee, one-quarter of respondents reported experience with some kind of AI voice scam — one in 10 said they had been targeted personally, while 15% said it happened to someone they knew.With just a small fee, a few minutes, and an internet connection, bad actors can weaponize AI for their personal gain. The <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.mcafee.com%2Fcontent%2Fdam%2Fconsumer%2Fen-us%2Fresources%2Fcybersecurity%2Fartificial-intelligence%2Frp-beware-the-artificial-impostor-report.pdf&amp;esheet=53390925&amp;newsitemid=20230501005587&amp;lan=en-US&amp;anchor=The+Artificial+Imposter&amp;index=1&amp;md5=de5e528bc81bd101acb39311ecae12ad" target="_blank" rel="noopener">report</a> from McAfee found that, in some cases, all a scammer needed was three seconds of audio to clone a person's voice. And with social media, it's easy to find a snippet of someone's voice that can then be weaponized. While Eddie and his family were able to avoid the scam, many victims of these AI-enabled con artists aren't as lucky. And as AI technology goes mainstream, these scams will only get more sophisticated.<h2>Supercharged scams</h2>Imposter scams come in many forms but typically work the same way: A scammer pretends to be someone you trust to persuade you to send them money. According to the <a href="https://consumer.ftc.gov/features/imposter-scams" target="_blank" rel="noopener">FTC website</a>, there are cases of imposter scammers posing as love interests, IRS officials, caregivers, computer technicians, and family members. Most scams occur over the phone, but they can also take place on social media, over text, or by email. In one traumatic <a href="https://www.businessinsider.com/virtual-kidnappers-scamming-terrified-parents-out-of-millions-fbi-2022-3">case</a>, Richard Mendelstein, a software engineer at Google, received a call from what sounded like his daughter Stella screaming for help. He was instructed to withdraw $4,000 in cash as a ransom payment. It was only after he had sent the money to a money-wiring center in Mexico City that he realized he had been scammed and his daughter had been safe at school the whole time. Previous iterations of virtual kidnapping scams, like the one Mendelstein's family fell victim to, used generic voice productions that vaguely lined up with the age and gender of the child. The scammers banked on parents panicking at the sound of a terrified young person — even if the voice didn't really match their kid's. But with AI, the voice on the other end of the phone can now sound eerily like the real deal. <a href="https://www.washingtonpost.com/technology/2023/03/05/ai-voice-scam/" target="_blank" rel="noopener">The Washington Post</a> reported in March that a <a href="https://www.businessinsider.com/couple-canada-reportedly-lost-21000-in-ai-generated-voice-scam-2023-3">Canadian couple were scammed out of $21,000</a> after hearing an AI-generated voice that sounded like their son. In another case from this year, scammers <a href="https://www.businessinsider.com/ai-scam-voice-clone-fake-kidnap-call-mother-money-ransom-2023-4">cloned the voice</a> of a 15-year-old girl and posed as kidnappers to try to get a $1 million ransom. As an online creator with over 100,000 TikTok followers, Eddie knew that fake accounts imitating him would inevitably pop up. The day before the scam call, a fake account of Eddie had appeared on Instagram and started messaging his family and friends. AI is taking the schemes to the next level. "Taking my pictures and uploading posts on Instagram is one thing," Eddie told me. "But trying to clone my voice is really freaky to think about, and it scared me." Eddie called the rest of his family to warn them about the scam and made a <a href="https://www.tiktok.com/@eddiecumberbatch/video/7220883549862350123?lang=en" target="_blank" rel="noopener">TikTok video</a> about his experience to raise awareness.Most of us likely think we would recognize our loved one's voices in a heartbeat. But McAfee found about 70% of adults surveyed lacked confidence in distinguishing between cloned and real voices. A <a href="https://www.ndss-symposium.org/wp-content/uploads/2019/02/ndss2019_08-3_Neupane_paper.pdf" target="_blank" rel="noopener">2019 study</a> found that the brain didn't register a significant difference between real and computer-generated voices. The subjects in the study incorrectly identified morphed (software-altered) recordings as real 58% of the time, leaving plenty of room for scammers to take advantage. Plus, more people are making their real voice available to scammers: McAfee said 53% of adults shared their voice data online weekly.Whether it's a kidnapping, a robbery, a car accident, or simply being stuck somewhere with no money to get home, 45% of McAfee survey respondents said they would reply to a voicemail or voice note that sounded like their friend or loved one, especially if it appeared to come from their partner, parent, or child. McAfee also found that over one-third of victims lost more than $1,000 in AI scams, with 7% losing more than $5,000. The <a href="https://public.tableau.com/app/profile/federal.trade.commission/viz/FraudReports/SubcategoriesOverTime" target="_blank" rel="noopener">FTC</a> reported that victims of imposter scams lost an average of $748 in the first quarter of 2023.<h2>Faking voices</h2>While the AI technology that makes these scams possible has been around for a while, it has increasingly gotten better, cheaper, and more accessible. "One of the things that's most important to recognize with the advances in AI this year is it's largely about bringing these technologies into reach of many more people, including really enabling the scale within the cyberactor community," McAfee's chief technology officer, Steve Grobman, said. "Cybercriminals are able to use generative AI for fake voices and deepfakes in ways that used to require a lot more sophistication."He added that cybercriminals were similar to businesspeople — they look for the most efficient ways to make money. "In the past, these imposter scams were highly lucrative because when they paid off, they would often pay off with pretty substantial sums of money," Grobman said. "But if instead of having to take somebody along for three months on a romance scam to get $10,000, they can do a fake audio scam that executes in 10 minutes and get the same result. That's going to be far more lucrative."Previous phone-call imposter scams relied on a scammer's acting skills or a level of gullibility on the victim's end, but now AI does most of the legwork. Popular AI audio platforms such as Murf, Resemble, and ElevenLabs allow users to create realistic voices using text-to-speech tech. The low barrier to entry for these programs — most providers offer free trials, and these tools don't require a computing degree to figure out — make them attractive to scammers. The scammer uploads an audio file of someone's voice to one of these sites, and the site builds an AI model of the voice. With a small clip of audio, scammers can produce a 95% voice match. Then, the scammer can just type out whatever they want, and the AI voice will speak what is typed in real time.Once they've perpetrated their crime, voice scammers are difficult to catch. Victims often have limited information for police to go off, and since voice scammers operate from all over the world, there's a host of logistical and jurisdictional challenges for law-enforcement agencies. With minimal information and limited police resources, most cases are left unresolved. <a href="https://www.telegraph.co.uk/news/2023/02/01/fraud-surges-prosecutions-slump-record-low/#:~:text=Just%20one%20in%201%2C000%20frauds,ONS)%20annual%20survey%20of%20crime" target="_blank" rel="noopener">In the UK</a>, just one in 1,000 fraud cases result in a charge.However, Grobman believes that if you are aware that the scams exist, you don't need to be particularly worried. All it takes if you get one of these calls is the ability to take a step back and ask a few questions that only the loved one on the other end of the phone would know the answer to. The <a href="https://consumer.ftc.gov/consumer-alerts/2023/03/scammers-use-ai-enhance-their-family-emergency-schemes" target="_blank" rel="noopener">FTC</a> has also recommended that if a loved one tells you they need money, put that call on hold and try calling your family member separately to verify the story — just as Eddie's father did. Even if a suspicious call comes from a family member's number, that, too, may be faked. Another telltale sign is if the caller asks for money through questionable channels that are hard to trace, such as wiring, cryptocurrency, or gift cards. Security experts even recommend establishing a safe word with loved ones that can be used to distinguish between a genuine emergency and a scam.<h2>Risks of AI</h2>As AI becomes ubiquitous, these kinds of scams put our ability to trust even our closest family members at stake. Thankfully, the US government is attempting to get a hold on the deceptive ways AI can be used. Supreme Court <a href="https://www.axios.com/2023/02/21/supreme-court-online-content-section-230-gonzalez-arguments" target="_blank" rel="noopener">Justice Neil Gorsuch</a> in February highlighted the limitations of legal protections that safeguard social networks from lawsuits when it comes to content generated by AI, meaning websites are largely shielded from liability for what third parties post. And <a href="https://www.macaubusiness.com/ai-companies-have-moral-responsibility-to-protect-users-w-house/" target="_blank" rel="noopener">Vice President Kamala Harris</a> in May told CEOs of leading tech companies that they had a "moral" responsibility to protect society from the dangers of AI. Similarly, the FTC <a href="https://www.ftc.gov/business-guidance/blog/2023/02/keep-your-ai-claims-check" target="_blank" rel="noopener">told companies</a> in February: "You need to know about the reasonably foreseeable risks and impact of your AI product before putting it on the market."Ally Armeson, the executive program director of Cybercrime Support Network, a nonprofit organization dedicated to helping businesses and people combat cybercrime, agreed that some regulation was needed. "Generative AI is evolving very quickly," she told me. "Like any technology, generative AI can be misused or exploited for harmful purposes, so certainly regulation will be necessary as these generative-AI tools continue to develop."But while there are a number of AI cybersecurity solutions being rolled out, Armeson believes that at this point, the best anyone can do is keep their wits about them and keep the conversations going: "Until all consumers have access to these security solutions, the responsibility is on us as individuals to understand the new cyberthreat landscape and protect ourselves."<a href="https://www.businessinsider.com/author/eve-upton-clark" rel="">Eve Upton-Clark</a> is a features writer covering culture and society.

The terrifying new AI scam

<ul class="summary-list"><li>I discovered via a Google alert an article I had never written, attributed to me.</li><li>The article was a listicle on restaurants in New Mexico posted on a site full of similar listicles.</li></ul>For 72 hours, I experienced one of the worst nightmares of a modern journalist: A byline bearing my name appeared on a digital travel publication I had never heard of or written for.Someone had stolen my name for a <a target="_blank" href="https://www.travellens.co/best-restaurants-in-ruidoso-nm/?fbclid=IwAR2BwyL0yaPeJ9GFl09iP0qkstCxIV1NwT6rLPLyw_v7eMbGUpn07nC3OPc">story</a> on popular restaurants in a small New Mexico town, and it read like the work of artificial intelligence. While my name was used, the site had paired it with a stock image and a standard fake bio. I had never visited the town in my life. I'm a journalist and fiction writer and discovered the article courtesy of a Google Alert, which I had signed up for a while back to track articles and reviews of a newly published book. My name is unique. I'm reasonably confident I'm the only Iris Dorbian out there — there are only a handful of Dorbians still alive in the US and Canada. Most died in the Holocaust. I'm also one of the few women, other than a retired book editor in Manhattan, who was born a Dorbian.With the rise of ChatGPT and machine learning-curated work, I was deeply disturbed that someone could produce a piece of journalism that would have taken me or another credible professional several weeks to complete.<div type="image" title="Screenshot of the fake Iris Dorbian author page" height="991" width="1322" msid="105474967" hostid="261" sizebytes="125862"></div>I promptly sent an angry email to the contact on the travel site, demanding they remove the fake name, photo, and bio. I then reached out to my online network, posting the details of this identity theft on my social media platforms, and learned I wasn't the only one this had happened to.I sought the counsel of Jane Friedman, a well-known author and publishing expert who had previously battled a similar issue on Amazon. Two weeks earlier, Friedman <a target="_blank" href="https://janefriedman.com/i-would-rather-see-my-books-pirated/">recounted on her blog </a>how several books with her byline — books she never wrote — were published on the e-commerce giant within the span of a month. She posted that initially, Amazon was reluctant to remove the books, but thanks to her reputation and renown, they were finally removed.How would I, a decidedly non-famous journalist with the global influence and clout of a cumquat, get my name back? Friedman advised me to contact the site's web host. "No guarantee it would work, but that's where I'd start," she urged. A digital-savvy colleague traced the "photo" of the fake Iris Dorbian to a freelance talent site, reinforcing my belief that an AI entity was likely behind this mischief.The next day, I contacted the site's web host and again, requested the immediate removal of the imposter byline. I crossed my fingers. On the third day, I discovered the fake byline, photo, and bio had vanished. The listicle was still on the site, but my name and thephonye photo had been removed.<div type="image" title="Screenshot of the travel article" height="2601" width="3468" msid="105474968" hostid="261" sizebytes="600524"></div>A web host representative wrote back: "I just wanted to confirm that we're looking into what has happened here with urgency." A Business Insider editor reached out to Blake Walsh, the site's editor and founder, for comment and asked how the article was produced. (The <a target="_blank" href="https://www.travellens.co/about-us/#editorial-criteria-and-processes">site's "About" page</a> contained claims that each article undergoes a "rigorous" editing screening process before being published.)He never responded. But curiously, the article was removed days after the email was sent.My editor also discovered that parts of the article were a direct copy-and-paste of Google Reviews. For example, the write-up of a restaurant called The Village Buttery said: "I've tried many, but nothing beats their Crab Salad Sandwich, my partner's favorite." That language was almost word for word lifted from a customer's <a target="_blank" href="https://www.google.com/maps/reviews/@33.3302086,-105.66942,17z/data=!3m1!4b1!4m6!14m5!1m4!2m3!1sChdDSUhNMG9nS0VJQ0FnSUNSMjctRDNRRRAB!2m1!1s0x0:0x62f02a4f4c0b6b87?hl=en-US&amp;entry=ttu">Google Review.</a> The article's sentiments and sentence structures also suspiciously resemble the customer review.I followed up with author/publishing expert Friedman and asked her what made her think AI was involved in the deception that happened to her."I'll probably never know for sure if it's AI — there are no tools that offer a definitive answer," she wrote. "But it would be pretty hard for an individual to single-handedly write six books in the space of a month without some kind of help."For now, I'm happy this nightmare is behind me. But given how many people are championing AI, I can't fool myself into believing that it won't happen to me again. In April, someone created <a target="_blank" href="https://www.insider.com/email-scam-new-ai-generated-primary-source-breast-cancer-survivor-2023-3">an AI breast cancer survivor</a> to be featured in a story by Insider reporter Julia Pugachevsky. Had her senses not perked up, prompting her to check the email and photo through an AI text checker tool, she would have been duped into writing a fake cancer story.Outside journalism, the rise of ChatGPT and other AI platforms has made the FTC and other governing bodies worried about <a target="_blank" href="https://www.businessinsider.com/chatbot-ftc-chatgpt-hype-scam-fraud-ai-artificial-intelligence-2023-3">rampant consumer fraud</a>.This is only the beginning. Until then, I'll be on my guard, scanning the internet for writing that exploits my reputation.

My name was stolen for a fake article that was most likely written by AI  

<ul class="summary-list"><li>Tech companies and investors think generative AI will be an economic revolution.</li><li>The Federal Trade Commission warned companies that overhyping their products could violate the law.</li></ul>Where tech companies and investors see gold, regulators see potential for overhyped marketing and fraud.Since its November 2022 launch, ChatGPT has mesmerized millions and sparked an arms race among big tech companies and venture capital-fueled startups to revolutionize the way humans interact with computers. However, the Federal Trade Commission is concerned companies are exaggerating the AI revolution while giving scam artists more powerful tools to defraud the public.Mapping human language from troves of data, ChatGPT can generate novel responses to short prompts instead of just spitting out existing information. Such chatbots fall under the umbrella of generative artificial intelligence, which includes technologies that create images, sounds, and other media. Investors say generative AI could save workers loads of unnecessary labor. Even before ChatGPT came out, <a href="https://www.sequoiacap.com/article/generative-ai-a-creative-new-world/" target="_blank" rel="noopener">Sequoia Capital</a> claimed generative AI can make knowledge workers "at least 10% more efficient and/or creative" with "the potential to generate trillions of dollars of economic value." In recent months, <a href="https://www.businessinsider.com/chatgpt-microsoft-accessible-on-its-platforms-soon-2023-1?_gl=1*38fo1o*_ga*MzQxNjk5NDM5LjE2Nzc1MTI2Mzg.*_ga_E21CV80ZCZ*MTY3Nzg2NjIwNS4zLjEuMTY3Nzg2NjIyMi4wLjAuMA..">Microsoft</a> made a $10 billion deal with ChatGPT parent OpenAI to revive Bing search with generative AI, <a href="https://www.businessinsider.com/zuckerberg-new-meta-top-level-team-ai-products-chatgpt-metaverse-2023-2">Meta</a> revamped efforts to integrate the technology into all its products like Facebook and Instagram, and <a href="https://www.businessinsider.com/chat-gpt-effect-will-likely-mean-more-ai-chatbots-apps-2023-2">Google</a> announced its rival chatbot, Bard, and plans to integrate generative AI into its flagship search engine, Chrome. "AI will fundamentally change every software category, starting with the largest category of all – search," said Microsoft chairman and CEO, Satya Nadella, when the company rolled out its new, AI-powered Bing search engine and Edge browser in February.But the Federal Trade Commission (FTC) is skeptical of these types of marketing claims — on top of agency concerns about AI's potential to introduce <a href="https://www.ftc.gov/business-guidance/blog/2021/04/aiming-truth-fairness-equity-your-companys-use-ai" target="_blank" rel="noopener">online bias, discrimination, and other consumer harms</a>."Marketers should know that — for FTC enforcement purposes — false or unsubstantiated claims about a product's efficacy are our bread and butter," Michael Atleson, an attorney in FTC Division of Advertising Practices, wrote in a <a href="https://www.ftc.gov/business-guidance/blog/2023/02/keep-your-ai-claims-check" target="_blank" rel="noopener">blog post</a> Monday. Having beefed up its investigative abilities in February with the newly created Office of Technology, the agency said it plans to track exaggerated promises about what an AI product may do, its superiority to non-AI competition, and the extent to which company or product actually uses AI technology. The agency is also watching companies who fail to foresee and mitigate risks.The technology has already showed serious limitations, so the hype has real consequences. <a href="https://www.businessinsider.com/bing-chatgpt-ai-chatbot-argues-angry-responses-falls-in-love-2023-2">Bing's AI chatbot</a> didn't know what year it is, insulted users, and even claimed to love one Insider reporter. When <a href="https://markets.businessinsider.com/news/stocks/google-alphabet-stock-ai-bard-chatgpt-report-ad-inaccurate-answer-2023-2">Google's AI chatbot</a> made a factual error in an ad, its parent company Alphabet's stock sank 9%.While AI products may hold less promise than companies say, the FTC is worried they will make it easier to deceive voters and consumers."We're also concerned with the risk that deepfakes and other AI-based synthetic media, which are becoming easier to create and disseminate, will be used for fraud," FTC spokesperson Juliana Gruenwald told Insider.In June 2022, the FTC recommended Congress pass <a href="https://www.ftc.gov/news-events/news/press-releases/2022/06/ftc-report-warns-about-using-artificial-intelligence-combat-online-problems" target="_blank" rel="noopener">laws</a> so AI tools do not cause additional harm."The FTC has already seen a staggering rise in fraud on social media," she said. "AI tools that generate authentic-seeming videos, photos, audio, and text could supercharge this trend, allowing fraudsters greater reach and speed," from imposter scams and identity theft to payment fraud and fake website creation. Chatbots could exacerbate these trends, Gruenwald said.While the FTC did not provide specific examples of AI-powered fraud, it's not hard to imagine how people could be fooled. Already, AI-generated audio of Joe Biden and Donald Trump trash-talking while gaming has gone <a href="https://www.businessinsider.com/voice-ai-audio-joe-biden-donald-trump-tiktok-2023-3">viral</a> on TikTok. Combined with deepfake video and speech-mimicking chatbots, bad actors could mislead the public with faked footage of politicians in the lead up to an election. Similarly, phishing calls and emails could start sounding more like humans instead of robots, giving hackers new tricks to rob consumer and company finances.Aware of these threats, Gruenwald didn't mince words: "We're prepared to hold – and have held – accountable the firms and individuals who engage in these practices."If the FTC's instincts are right, today's generative AI may pose less economic disruption than deception.

The top US consumer watchdog is worried you're going to fall for AI scams or overblown marketing hype

<ul class="summary-list"><li>Princess Akshita of Mayurbhanj said she gets why Prince Harry needed to step back from royal life.</li><li>Akshita said <keyword id="11893529" type="UNKNOWN" weightage="100" keywordseo="royals" source="Orion">royals</keyword> often deal with imposter syndrome and pretending to be something they're not.</li></ul><a href="https://www.insider.com/what-its-like-to-attend-le-bal-des-debutantes-photos-2021-10">Princess Akshita of Mayurbhanj</a> told Insider she gets why <a href="https://www.insider.com/prince-harry-meghan-markle-announce-stepping-back-from-royal-life-2020-1">Prince Harry and Meghan Markle left</a> the British monarchy but says she'd never step back from her royal life.The daughter of the 47th ruler of the 1,000-year-old Bhanja dynasty and great-granddaughter of the late King Tribhuvan of Nepal, Akshita helps her sister <a href="https://www.thebelgadiapalace.com/">Princess Mrinalika run Belgadia Palace</a> in their home state of Odisha, <keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword>, works for an Artificial Intelligence non-profit, and raises awareness about conservation.But for her, being born into a royal family generations after they lost official titles, when India gained independence in 1947, is a blessing.<div type="image" title="Princess Akshita." height="3366" width="4480" msid="89256218" hostid="261"></div>"I hit jackpot choosing this family to be born in," Akshita said. "I never felt I had to be someone different or someone else to portray a certain image."Her ancestry gives her the platform to do humanitarian work, she said. Her March 2021 tweets about <a href="https://twitter.com/thegreatashb/status/1366443884008534018">fires in Similipal National Park,</a> a reserve in Odisha home to tigers, <a href="https://www.hindustantimes.com/india-news/odisha-govt-deploys-1000-men-to-contain-huge-blaze-in-similipal-national-park-101614793853215.html">helped direct public attention to the issue</a>, the Hindustan Times reported at the time.She was also able to study at New York City's Bard College and returned in 2016 with ideas of how to improve her community while carrying on the family legacy, she said."When my parents sent me abroad for education, they wanted me to understand the traditions and come back to be a leader in these communities, but also understand times have changed," Akshita said. Her upbringing and family history instilled in her a sense of gratitude for the life she lives so she could "never forget the position" she has.<h2>Leaving royal life can be 'much easier' than staying, Akshita says</h2>In India, "there are very few families who still live in their palaces or in their home countries because it's much easier to leave," Akshita said. "It's harder to stay back and be like 'Who am I,' when you don't have the crown and the money and the palaces and the retinue of staff."Though she stayed, she said she gets why royals from across the world like <a href="https://www.insider.com/meghan-markle-prince-harry-wont-return-to-royal-family-2021-2">Prince Harry</a> and <a href="https://www.insider.com/nigerias-prince-kunle-princess-keisha-on-leaving-royal-life-interview-2021-10">Prince Kunle of Nigeria left royal life</a> behind. "I think about what it's like to pretend to be something you're not," she said while speaking about how imposter syndrome can affect royals. <div type="image" title="Meghan Markle and Prince Harry." height="2649" width="3532" msid="89256222" hostid="261"></div>Akshita said she respected Markle and Harry <a href="https://www.insider.com/prince-harry-meghan-markle-made-him-realize-should-get-therapy-2021-5">prioritizing family and mental health</a> over titles. During their March 2020 interview with Oprah Winfrey, the <a href="https://www.insider.com/harry-and-meghan-oprah-interview-racism-large-part-leaving-uk-2021-3">Sussexes said racism from the British media</a> and <a href="https://www.insider.com/royals-concerns-over-archie-skin-tone-meghan-harry-oprah-interview-2021-3">within the royal household</a> also played a part in their decision to step back and <a href="https://www.insider.com/celebrity-homes-montecito-california-meghan-harry-2021-5">leave the UK</a>.Even though they're no longer working royals, both <a href="https://www.businessinsider.com/harry-meghan-spotify-covid-19-misinformation-changes-2022-1?r=US&amp;IR=T">Markle and Harry continue to use their platform</a> and their non-profit foundation, Archewell, to <a href="https://www.insider.com/meghan-markle-calling-us-senators-to-pass-paid-leave-2021-11">champion causes</a> important to them."For them, it got harder and harder," Akshita said, especially for Harry, who she said essentially lived in a "golden cage" by growing up royal. "I can imagine how suffocating it could be to live that life continuously, and have people hold you to a standard, which is impossible," Akshita added. "When you're royalty, your moral compass has to be very strong."There is something very human, she said, of people like Markle and Harry who opt to leave the pageantry of royal life behind."When you take away all of this, you realize these are individuals who are trying to do the best they can for their family," Akshita said.

Princess Akshita says she gets why Prince Harry and Meghan Markle stepped back from royal life, but she'd never do the same

<ul class="summary-list"><li>Cryptocurrency is less regulated than other assets, which can lead to scams, fraud, and financial ruin.</li><li>There are various forms of crypto market manipulation, including pump-and-dump schemes and rug pulls.</li><li>Investors can avoid several common crypto scams by performing thorough due diligence before trading.</li></ul>A <a href="https://www.businessinsider.com/what-is-cryptocurrency" target="_blank" rel="noopener">cryptocurrency</a> is a digital token that can be exchanged for goods and services. But many retail investors and institutions treat cryptos as investments instead of means of exchange, buying certain coins and hoping to sell them for a profit at a later date. But investors must be careful before dabbling in these widely misunderstood assets. Cryptocurrencies are <a href="https://www.businessinsider.com/what-is-speculation" target="_blank" rel="noopener">speculative</a> by nature. They lack traditional fundamentals that investors can analyze and assign value to. As a result, cryptos tend to be <a href="https://www.businessinsider.com/what-is-volatility" target="_blank" rel="noopener">volatile</a> assets — their prices can drastically fluctuate on any given day. Crypto markets are also less regulated in general, so it's easier for bad actors to maliciously influence prices and take advantage of unsuspecting investors. For these reasons, investors should be wary of the following crypto scams before they <a href="https://www.businessinsider.com/how-to-buy-cryptocurrency" target="_blank" rel="noopener">start investing in crypto</a>. <h2>1. Market manipulation</h2>Market manipulation is the deliberate attempt to artificially influence or interfere with asset prices. Typically, scammers manipulate markets to tip the scales in their favor and make quick returns. Several illicit trading activities fall under this umbrella term, including:<ul><li>Spoofing: This creates an illusion of momentum by placing fake buy or sell orders, which are canceled before they're filled. Scammers frequently use dummy accounts and bots to place large trades, giving other investors the impression that demand is either increasing or decreasing. </li><li>Front-running: This is the practice of making trades based on knowledge of future transactions. For instance, miners or node operators can have insight into pending trades. They could then <a href="https://www.businessinsider.com/leverage" target="_blank" rel="noopener">leverage</a> their inside access to make profitable trades ahead of major price <a href="https://www.businessinsider.com/what-is-swing-trading" target="_blank" rel="noopener">swings</a>. </li><li>Churning: This is excessive trading by a broker in a client's crypto account to generate additional commissions. Asset management firms can receive fees for managing crypto holdings. Therefore, nefarious <a href="https://www.businessinsider.com/what-is-broker" target="_blank" rel="noopener">brokers</a> could abuse a commission-based payment structure to profit off of unaware clients. On top of unwarranted fees, the impacted individuals could also incur unnecessary tax liabilities as a result of churning. </li></ul>Since cryptocurrency markets are still relatively new and less regulated, they're more vulnerable to market manipulation. However, there are ways crypto traders can avoid falling victim to these scams. For starters, it's best to trade on larger, reputable exchanges that have established security policies and internal controls. Additionally, investors can safeguard against unlawful tactics in the crypto markets by thoroughly researching coins, brokers, and exchanges before making any financial decisions. For instance, legitimate cryptos and companies typically offer potential investors an abundance of learning materials on their websites.Quick tip: Although plenty of investors day trade crypto, market manipulation usually impacts short-term trading activity. So, you can help protect against spontaneous price jumps by adopting a long-term outlook, otherwise known as "HODL-ing." This stands for "hold on for dear life" and encourages a <a href="https://www.businessinsider.com/buy-and-hold" target="_blank" rel="noopener">buy-and-hold investing strategy</a>.<h2>2. Pump-and-dump schemes</h2>A pump-and-dump scheme represents an individual or group's effort to <a href="https://www.businessinsider.com/what-is-inflation" target="_blank" rel="noopener">inflate</a> the price of an asset so that they can sell their own holdings for a profit. It starts with the "pump." To convince people to buy in, crypto schemers spread false or misleading information about minimally traded coins through social media, forums, and online communities. These posts often contain embellished due diligence (or "DD") and promise an impending surge. They'll use emojis like rocket ships paired with moons and diamonds alongside outstretched hands, implying an investment is about to pop and that investors should buy and hold. Then comes the dump. As momentum swells, other investors cash in and drive the price up, while the schemers cash out and make a quick fortune. Once the market realizes the hype was fake, investors scurry to limit losses and the coin's price plummets.Spotting a pump-and-dump scheme boils down to credibility. If you use social media platforms like Reddit and Twitter to track crypto movements, look out for anonymous accounts with minimal posting history — or a track record of baseless pumping. These are likely fraudsters. <h2>3. Rug pulls </h2>A rug pull occurs when crypto developers abandon a project but keep the funds raised from investors. Bad actors can list a new token on a decentralized exchange, pair it with a legitimate cryptocurrency, and drum up interest on social media to lure in investors. Once enough money funnels into their token, the developers scratch the project and run with investor funds. This scam plagues early investors who think they're getting early access to up-and-coming cryptos, when in reality they're scammed out of their money. "If it sounds too good to be true, it probably is," explains Shaun Heng, the VP of Growth &amp; Operations at <a href="https://coinmarketcap.com/" target="_blank" rel="noopener">CoinMarketCap</a>, one of the most frequented websites for tracking crypto prices."Pay close attention to the websites and third parties involved. Don't rely on comments from anyone on social media, no matter what people are saying or how many positive reviews there are. If you can't find verifiable reviews, the chances of the opportunity being a scam are higher," Heng adds.Quick tip: By sticking to centralized cryptocurrency exchanges, which typically have stricter oversight and regulations, you have a better chance of avoiding illegitimate projects. <h2>4. Traditional hacking and theft </h2>Crypto markets have unique characteristics relative to other asset markets. But investors are still susceptible to traditional scams like account hacks and identity theft. To trade crypto, investors need a <a href="https://www.businessinsider.com/crypto-wallet" target="_blank" rel="noopener">crypto wallet</a>, which can be a digital or physical device. These wallets have keys — both public and private. The former is a public address that allows crypto to be deposited into the wallet, similar to how routing and bank account numbers enable direct deposits. The latter is like the password to an online banking platform. Whoever has access to that password can control the funds within the account. Just as you wouldn't share your credit card number with a stranger, keep your private keys somewhere safe. Fraudsters can use this information to hack accounts and withdraw funds — and they'll employ various tricks to get investors to reveal their private information. Be cautious of crypto phishing emails that may pose as a crypto exchange or wallet provider. The same goes for out-of-the-blue and unsolicited promotions from suspicious websites and imposter accounts. Scammers often pretend to be celebrities or affiliates of major companies, promising guaranteed and immediate returns if you act quickly. Quick tip: To avoid accidentally falling for phishing emails, verify that the sender's email address is valid and/or recognizable. Often, scammers use addresses with generic domains and random characters.<h2>5. Initial coin offering (ICO) scams</h2>An initial coin offering (ICO) is the crypto equivalent of an <a href="https://www.businessinsider.com/what-is-ipo" target="_blank" rel="noopener">initial public offering</a> (IPO) for a stock. Through an ICO, companies can raise money to fund a crypto development, such as a token, app, or relevant service. In exchange for pledging funds, the investor receives an issuance of newly minted coins. While IPOs are typically for well-established private businesses, companies that pursue ICOs aren't necessarily in the same position. They could be fledgling startups without any operating history whatsoever, which can make it difficult to differentiate between a real offering and a scam. Similar to rug pulls, ICO scams collect the funds of early investors only to abandon the project shortly after. An easy way to recognize an ICO scam — or simply an unprepared management team — is to review the company's whitepaper. This document details the specifications behind the project, including strategy, goals, and market analysis. If the company doesn't provide a whitepaper, that's a red flag. Quick tip: You can perform a background check on the ICO's developers and management team. If the company's ownership is anonymous or has a minimal track record in the crypto space, that should also be a cause of concern.<h2>The financial takeaway</h2>Decentralized finance can be a Catch-22. On one side, the lack of a singular governing body allows community-wide decisions and can open the doors to additional opportunities. On the other side, without standardized oversight, bad actors can commit fraud and deceive unsuspecting investors in a variety of ways. However, much like in traditional asset markets, crypto investors can lower their risk of succumbing to market manipulation by being wary of these schemes and taking proactive measures. That includes using reputable exchanges and performing thorough research before making any investment decisions. If you come across a scam, you can report it to the Federal Trade Commission at <a href="https://reportfraud.ftc.gov/#/?pid=B" target="_blank" rel="noopener">ReportFraud.ftc.gov</a>.

5 crypto scams to know before you start trading coins

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Kacper Pempel/Reuters</div></div></div><ul class="summary-list"><li>Most companies that are early users of <a href="https://www.businessinsider.com/category/ai">artificial intelligence</a> have one big concern about the technology- cybersecurity.</li><li>That's not an idle concern; many say their AI systems have already been breached, according to a new study from Deloitte.</li><li>Researchers have shown that machine-learning systems can be manipulated and can potentially leak valuable data, analysts from Deloitte said in a new report.</li></ul>Artificial intelligence holds lots of promise among corporations, but early adopters of the technology also see some big dangers.Bad AI could cause their companies to make strategic mistakes or engage in unethical practices, lead to legal liabilities, and even cause deaths. But the biggest risk early adopters see from the technology has to do with security, according to <a href="https://www.businessinsider.com/deloitte-survey-early-ai-adopters-aws-google-cloud-enterprise-software-2018-10">a new study from consulting firm Deloitte</a>.That concern is "probably well placed," analysts Jeff Loucks, Tom Davenport, and David Schatsky said in <a href="https://www2.deloitte.com/insights/us/en/focus/cognitive-technologies/state-of-ai-and-intelligent-automation-in-business-survey.html?id=us:2el:3pr:4di4780:5awa:6di:MMDDYY:&amp;pkid=1005631#endnote-sup-1">the report</a>. Many of the companies that are already testing or implementing AI technologies have already experienced a security breach related to them."While any new technology has certain vulnerabilities, the cyber-related liabilities surfacing for certain AI technologies seem particularly vexing," the Deloitte analysts said in the report.For its study, the firm surveyed some 1,100 executives at US companies from 10 different industries that are already testing or using AI in at least one of their business functions.<h2>Many see security as a huge risk</h2>As part of the study, Deloitte asked the executives to rank what they saw as the biggest risks related to the technology. By far, more ranked cybersecurity as their top choice than any other risk, and more than half of respondents ranked it in their top three.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Deloitte</div></div></div>The executives weren't just being nervous Nellie's. Many had already experienced the security of dangers of AI. Some 30% of those surveyed said their companies had experienced a security breach related to their AI efforts in the last two years.The Deloitte study didn't discuss the types of breaches that the companies experienced or what the consequences of them were. But it did note that researchers have discovered various ways that hackers could compromise or manipulate AI systems to nefarious ends.<h2>Machine learning systems can be manipulated</h2>For example, researchers have shown that machine learning systems can be manipulated to reach incorrect conclusions when they're intentionally fed bad data, the Deloitte analysts said. For example, hackers could potentially fool a face-detection system by feeding it enough photos of an imposter to get it to recognize that person as the authorized user.Such systems could also potentially expose companies intellectual property, the analysts said. If malicious actors were able to generate numerous interactions with a company's machine learning system, they could potentially use the results to reverse engineer the data on which the system was built, they said.Because of such dangers, many of those surveyed said they had delayed, halted, or decided not to even begin some planned AI efforts, according to the study.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Deloitte</div></div></div><h2>Now read:</h2><ul><li><a href="https://www.businessinsider.com/deloitte-survey-early-ai-adopters-aws-google-cloud-enterprise-software-2018-10?r=tgw">A new survey suggests Salesforce and SAP have an early lead over Amazon and Google in the next frontier in tech</a></li><li><a href="https://www.businessinsider.com/accenture-cto-paul-daugherty-talks-about-artificial-intelligence-2018-10?r=tgw">The head of tech of one of the world's largest consulting firms says the business world's most overhyped new technology is also the most important</a></li><li><a href="https://www.businessinsider.com/bain-survey-finds-hr-departments-at-large-companies-are-embracing-ai-2018-10?r=tgw">These charts show how pumped up HR departments are about AI - even if many of them are still relying on paper documents</a></li><li><a href="https://www.businessinsider.com/phil-libin-says-ai-developers-shouldnt-focus-on-negative-outcomes-2018-9?r=tgw">The best way to avoid killer robots and other dystopian uses for AI is to focus on all the good it can do for us, says tech guru Phil Libin</a></li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/christopher-wylie-assaulted-after-exposing-facebook-data-breach-2018-9">Christopher Wylie says he was pushed into traffic and assaulted after exposing Facebook's bombshell data scandal</a></h3> <div> </div> </div>

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