A cybersecurity expert has issued a warning about what to watch out for when receiving a call by an unknown phone number. When it comes to fraudsters it can be difficult to know what scams to look out for.
In the past year there has been a huge increase in fraud, which mainly originates from social media, online marketplaces and dating apps, reports the Mirror.
UK Finance, who represent the banking industry, reported that fraud losses in 2021 (the last figures available) totalled £1.3 billion with £1.4 billion in attempted fraud prevented. A lot of fraudsters try to disguise themselves as legitimate retailers, with a risk of scams on WhatsApp, including the notorious "hi mum, hi dad" con.
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Dr Klaus Schenk, head of product security at the software company Verimatrix, has issued some advice, explaining the "warning signs" to look out for if you find yourself in a cold call situation.
According to the expert, it is key to look out for three particular phrases, telling The Sun: "Be wary if the caller asks for immediate payment or requests you to disclose personal information.
"Promises of lucrative financial opportunities or gifts, along with emotional manipulation tactics, should also raise suspicion. Thirdly, you should be very cautious when anyone on the phone asks you to "install an app".
"Similarly, if the caller insists on installing certain apps or demands a comprehensive set of personal details, it is advisable to exercise caution", Dr Klaus added.
His comments come after consumer finance expert Martin Lewis issued a warning over a "disgraceful" deepfake scam advert for an investment app. The broadcaster said people are using technology to "pervert and destroy" his reputation in order to scam people online.
The advert, which reportedly circulated on Facebook, appears to show Mr Lewis endorsing an Elon Musk-backed investment scheme through a video at his home. "Musk's new project opens up new opportunities for British citizens. No project has ever given such opportunities to residents of the country", the fake Mr Lewis says in the footage.
But the clip is AI-generated, using deepfake technology to replicate the expert's face and voice using existing video and sound, making it appear realistic. "It's pretty frightening," Mr Lewis told the BBC.
"These people are trying to pervert and destroy my reputation in order to steal money off vulnerable people, and frankly it is disgraceful, and people are going to lose money and people's mental health are going to be affected." He said it was the first time he has been used in this sort of video scam.
Mr Lewis, who founded Money Saving Expert and has around 2.3 million followers on Twitter, said more needs to be done to regulate scam adverts and protect victims of financial crimes. "Vulnerable people and many non-vulnerable people are being scammed in this country and nothing is being done about it", he said.
He said there are no "proper" fines for big tech firms who get paid to publish criminal adverts. Meta, which owns Facebook, Instagram and WhatsApp, is working with Stop Scams UK to help victims and remove scams at the source, as soon as it becomes aware of them.
The multinational tech giant said scammers are increasingly using sophisticated methods to defraud people, which it regards as an industry-wide issue. Meta said it is investigating after claims the Martin Lewis video appeared for users on Facebook.
