As festivities grip the nation, a concerning trend emerges amidst the holiday cheer – an uptick in sophisticated scams leveraging artificial intelligence (AI) tactics. Reports from the Better Business Bureau and Aura.com shed light on a staggering 50% surge in gift card fraud this year, affecting a significant portion of the US population. Shockingly, the study estimates that since 2022, Americans have collectively lost a staggering $55.8 billion to these scams, impacting 73 million individuals.
These scams aren’t just a byproduct of heightened online shopping but are being orchestrated with advanced AI-driven methodologies. Scammers are employing AI-generated deepfakes to deceive and infiltrate legitimate platforms, fabricating deceptive giveaways and manipulating voices to elicit personal information. Their tactics have evolved, targeting unsuspecting consumers through social media platforms like Facebook and Instagram, where fraudulent deals and contests lure victims into divulging sensitive details or visiting malicious websites.
At the forefront of these scams lies the insidious tactic of gift card draining. Scammers employ techniques ranging from skimming devices at physical retail outlets to infiltrating online databases to siphon off funds from gift cards before activation. Consequently, online shoppers have found themselves most heavily impacted by these evolving tactics.
In light of these alarming trends, experts emphasize the importance of vigilance and offer crucial tips to safeguard against these scams. Consumers are urged to purchase gift cards exclusively from authorized sources such as official store websites or trusted physical shops. Before purchase, a thorough examination of the card for any signs of tampering, scratches, or unusual barcodes is recommended. Moreover, safeguarding the card’s PIN as rigorously as one would their credit card information is paramount. Additionally, considering card registration with the store to prevent unauthorized use in case of loss is advised.
As the holiday season continues to spark joy and celebration, individuals must remain cautious and informed, protecting themselves from the perils of evolving AI-powered scams targeting the spirit of giving.
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