How to Avoid AI Scams that Every Social Media User Should Know
Anyone with an Internet Connection Can Impersonate Any Public Figure with AI Tools
In just 15 minutes, you can create a video of Elvis Presley endorsing the latest smartphone using online AI tools available for free to anyone. AI technology has advanced so far that all you need is the idea, and AI will provide the means to create websites, ads, images and full videos. While many have found positive purposes for these tools, there are those who use it to support their fraudulent endeavours.
Increase in Fraudulent Ads for Investment Scams
WFCU has seen a rise in Al- and deep-fake-related cryptocurrency fraud on social media platforms such as Facebook, TikTok and Instagram. Bad actors use Al-generated videos of political figures and celebrities to mislead people into investing in fraudulent schemes. It’s imperative to stay vigilant, as members continue to suffer financial losses.
Always Stop, Ask and Think Before You Act
Dylan Guthrie, WFCU Fraud Analyst, shares the tips to avoid AI scams that every social media user should know.
1. Assume that videos featuring public figures promoting merchandise or investments are fake.
Look for signs of deepfakes, such as unnatural movements, mismatched audio, or inconsistent lighting and shadows.
2. Deepfakes rely on exaggerated content to manipulate viewers.
Be cautious of subjects who act or speak out of character.
3. Search for evidence from trusted sources to corroborate the information in the ad.
Even a simple google search asking if the ad is legitimate will help you spot red flags.
4. Use trusted sources to verify the claims and contact information in the ad.
If the content mentions a company or trusted source, verify email addresses, social media accounts, phone numbers, and web addresses in a new web browser page.
5. Verify whether the investment company or individual is registered with the Canadian Securities Administrators (CSA) or the Canadian Investment Regulatory Organization (CIRO) before giving them any money.
6. Always be on the lookout for the traditional red flags of scams.
They include urgency, threat of missing out, unrealistic promises, excessive information requested, unexpected, and inconsistency to status quo.
We’re here to help
We encourage members to call our Member Contact Centre before making any online investments to help confirm their legitimacy. Remember: if it sounds too good to be true, it probably is.
Dylan Guthrie
Fraud Analyst
WFCU
