Did you know that while 75% of Americans say they are aware of holiday scams, 40% still fall for them each year? The Federal Trade Commission estimates that one-third of all Americans have faced fraud of some kind.
Fraudsters often increase scam attempts during the holidays when businesses and financial institutions are closed, and people are on vacation, making it difficult to get fraud assistance. It is important to always be vigilant in protecting yourself from fraud scams, but it is especially important during the holidays.
Phishing scams are one of the most common types of holiday fraud. Scammers may send fake emails or text messages pretending to be from retailers, delivery companies, or even your bank. These messages may ask you to click on a link to verify account information or confirm a purchase. Often, the link leads to a counterfeit website and/or malware designed to steal your personal and financial information, infect your device with a virus, or even hold your device hostage unless you pay a fee. Never click on links you are unsure about, and promptly delete the message.
Using artificial intelligence (AI) to analyze suspicious emails or texts can help identify common patterns associated with phishing scams. Here are ways you can use AI to help.
- Identify red flags. Many AI tools are programmed to detect scam-like language, formatting irregularities, and other indicators of phishing, but their accuracy depends on the sophistication of both the AI technology and the scam itself.
- Combine AI with best practices. While AI can be a helpful tool, it should be used with traditional phishing detection methods. Red flags that can indicate a scam include generic greetings, urgent requests, threats, misspellings, and poor grammar. Verify links by hovering over them to confirm that the destination URL matches the sender’s identity. Avoid opening attachments from unknown sources.
- Address privacy concerns. When using AI tools with potentially sensitive information, ensure that the tool adheres to privacy and data security regulations to safeguard your information.
While AI can be effective in detecting scams, it is not foolproof and may not identify newer or highly personalized scams. To maximize security, be sure to supplement AI with other security measures or tools, use anti-phishing software, and report suspicious activity to IT or security teams.
PHOTO: Latina woman holds credit card, smart phone. Victim of fraud. (Adobe Stock │ #482912516 – fizkes)
