The online-only lender said that these scams are highly effective, with millions of people potentially at risk…reports Asian Lite News
The Starling Bank, has issued a warning about a new wave of scams that use artificial intelligence to replicate people’s voices. Fraudsters can create convincing voice clones from just a few seconds of audio, often found in online videos, the bank said in a press release.
The online-only lender said that these scams are highly effective, with millions of people potentially at risk. The bank’s survey found that over a quarter of respondents had been targeted by such scams in the past year, and many were unaware of the threat, CNN reported.
“People regularly post content online which has recordings of their voice, without ever imagining it’s making them more vulnerable to fraudsters,” Lisa Grahame, chief information security officer at Starling Bank, said in the press release.
According to the survey, 46% of respondents weren’t aware that such scams existed, and that 8% would send over as much money as requested by a friend or family member, even if they thought the call seemed strange.
To protect themselves, people are advised to establish a “safe phrase” with their loved ones. This unique phrase can be used to verify identity during phone calls. The bank advised against sharing the safe phrase over text, which could make it easier for scammers to find out, but, if shared in this day, the message should be deleted once the other person has seen it.
As AI technology continues to advance, concerns about its potential for misuse are growing. The creators of ChatGPT, and OpenAI, have even acknowledged the risks associated with voice replication tools.
Lisa Grahame, Chief Information Security Officer at Starling Bank, commented, “People regularly post content online which has recordings of their voice, without ever imagining it’s making them more vulnerable to fraudsters. Scammers only need three seconds of audio to clone your voice, but it would only take a few minutes with your family and friends to create a Safe Phrase to thwart them. So it’s more important than ever for people to be aware of these types of scams being perpetuated by fraudsters, and how to protect themselves and their loved ones from falling victim”.
“We hope that through campaigns such as this we can arm the public with the information they need to keep themselves safe. Simply having a Safe Phrase in place with trusted friends and family – which you never share digitally – is a quick and easy way to ensure you can verify who is on the other end of the phone”.
When prompted as to what AI voice cloning scams entail, 79% of UK adults reported being concerned about being targeted – more so than HMRC / High Court impersonations scams (75%), social media impersonation scams (76%), investment scams (70%) or safe account scams (73%).
Lord Sir David Hanson, Minister of State at the Home Office with Responsibility for Fraud, said: “AI presents incredible opportunities for industry, society and governments but we must stay alert to the dangers, including AI-enabled fraud. As part of our commitment to working with industry and other partners, we are delighted to support initiatives such as this through the Stop! Think Fraud campaign and provide the public with practical advice about how to stay protected from this appalling crime.”
To launch the campaign, Starling Bank has recruited leading actor, James Nesbitt, to have his own voice cloned by AI technology, demonstrating just how easy it is for anyone to be scammed.
Commenting on the campaign, Nesbitt said “I think I have a pretty distinctive voice, and it’s core to my career. So to hear it cloned so accurately was a shock. You hear a lot about AI, but this experience has really opened my eyes (and ears) to how advanced the technology has become, and how easy it is to be used for criminal activity if it falls into the wrong hands. I have children myself, and the thought of them being scammed in this way is really scary. I’ll definitely be setting up a Safe Phrase with my own family and friends.”
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