Grandparent scams are more successful than ever thanks to new technology that uses AI to copy the voices of your loved ones. A sample from any social media account may be enough to enable voice cloning that can be used to fool family members that their loved ones are in crisis. March is Fraud Awareness Month and we offer you a few simple strategies to fight fraud like a pro.
There is nothing more upsetting than a phone call from a family member saying they are in trouble. Car accidents, being stuck in an airport or having a health crisis are all things we worry about for our kids and grandkids. Unfortunately, fraudsters know that too and are happy to use these emergencies to relieve us of our carefully saved money.
These are all types of imposter scams, with criminals pretending to be a family member, a love interest, a government agent or a bank staff. They typically phone in the middle of the night or early morning to take their targets off guard. The “situation” will be dire or urgent, to evoke a knee-jerk reaction and increase chances of success.
In one of the most common, grandparent scams, fraudsters will muffle their voices, pretending to have a broken nose or be very ill. In the middle of the night, who can tell? Now criminals have a new tool at their disposal: voice cloning.
AI Voice Cloning for Imposter Scams
Fraudsters can now use AI software to clone anyone’s voice from a short clip. Videos on social media are particularly vulnerable. The software they use is similar to that for copying and editing photographs but this works with audio files. It uses a recording of someone’s voice to “train” the software to speak in that person’s voice.
There are positive uses for AI voice cloning, such as dubbing movies for foreign markets in an actor’s actual voice. The AI will translate the dialogue and viewers will hear their favourite actor speaking their local language.
Fraudsters use social media to learn people’s family members’ names and other details, then use voice cloning software to alter their voices to sound like those family members. So if you get an unexpected phone call asking for money, you are right to think twice.
Strategies to Avoid Grandparent Scams
- Be suspicious of anyone who needs money immediately. Hang up the phone and call the police or the supposed family member directly, even if you think you recognize the voice.
- Courts don’t call to ask for fines or bail for family members. You would have to be present in court.
- Never send cash, e-transfers, cryptocurrency or any other funds to people you don’t know or unknown bank accounts.
- Have a secret family password that no-one else could know. If the caller can’t answer your question correctly, you know it’s not your family member or trusted contact.
Fraud Costs Canadians a Lot of Money
Jeff Horncastle, acting client and communications outreach officer at the Canadian Anti-Fraud Centre (CAFC), says grandparent scams cost Canadians about $11.3 million last year, of a total $554 million reported. Unfortunately, many people don’t report because they are embarrassed, so the amount is likely much higher.
Seniors are also targeted by investment scammers. A recent case in Winnipeg saw a retiree lose almost $650,000 to a criminal posing as a bank investment manager. The timing was just right as the retiree was looking for a place to put his nest egg to provide for his future.
Staying safe from fraud starts with education. Knowing the tricks that fraudsters use and reporting any potential or successful fraud to the CAFC are all ways to combat fraud in Canada. And when in doubt, call a loved one or support person for help. Following your intuition is usually the right way to go.
Previous BC CRN articles on fraud awareness and prevention
Top 10 Frauds: Grandparent, Romance, Investment Scams, and More!
What Spoofing Means and How to Stay Safe
6 Tips for Stronger Passwords: Protect Yourself Online
Fraud Prevention Month: Basic Safety Tips
Explore our website to learn more about BC CRN or connect with your local CRN for more information or resources.
