• Beware the Rise of AI-Powered Scams and Cryptocurrency Frauds

  • Jan 11 2025
  • Length: 3 mins
  • Podcast

Beware the Rise of AI-Powered Scams and Cryptocurrency Frauds

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  • Summary

  • Hey there, folks, it's Scotty here, your go-to expert on all things scams, cyber, and hacking. Let's dive right into the latest scams making headlines.

    First off, AI-powered scams are on the rise. NAB's experts have identified these as a key trend to watch out for in 2025[1]. Scammers are using AI to create deep fake videos and images, making it harder to spot red flags. For instance, they can impersonate high-profile Australians or even your loved ones to request money urgently. Remember, if it sounds too good (or bad) to be true, it probably is.

    But AI scams aren't the only ones to watch out for. Cryptocurrency investment scams are also making waves. Scammers are sending unsolicited emails or ads promising high returns on cryptocurrency investments. Scott Credit Union warns us to be extremely cautious of these offers, especially those claiming guaranteed profits[4].

    Now, let's talk about some scammers who've recently been caught. In Sarasota, Florida, two suspected scammers, Anthony Sanders and Marlita Andrews, were arrested for a jury duty scam that cost a woman $12,000[5]. They used a cellphone smuggled into a state prison to pull off the scam. Here's the thing: no law enforcement agency or court will ever call you and demand money for missing jury duty. If you get such a call, hang up and call law enforcement.

    And then there's the "good Samaritan" scam in New York City. A duo has been targeting victims in the Diamond District and Queens, using a choreographed scheme to steal money and valuables[2]. They puncture tires or drop money near a vehicle, then pretend to help while another thief grabs the goods. Be wary of strangers offering help, especially in areas with high foot traffic.

    Lastly, let's not forget about phishing scams and fake business opportunities. According to the Federal Trade Commission, victims reported losing $10 billion to scams in 2023, the highest ever reported[3]. Scammers are getting creative, using fake job listings and investment opportunities to steal personal details and money.

    So, what can you do to stay safe? First, verify any unexpected requests for money with a phone call or in-person check. Use secure online banking to track payments and avoid fraudulent activity. And always research charities and job opportunities on trusted platforms.

    Stay vigilant, folks, and remember: if it sounds too good to be true, it probably is. Keep your hard-earned money safe from these scammers. That's all for now. Stay safe out there.
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