A cybersecurity expert has revealed three phrases you should stay vigilant of when in conversation with a cold caller, to avoid being scammed out of personal information and money. In the last year alone, there has been a substantial increase in fraud - mainly originating from social media, online marketplaces, and dating apps.
UK Finance - who represent the banking industry - report that fraud losses across 2021 totalled £1.3billion, with £1.4billion in attempted fraud prevented. One particular concern with regards to fraud complaints came in the rise of WhatsApp ploys like the notorious 'hi mum' con.
Dr Klaus Schenk, who is the head of product security at Verimatrix, has since given advice on the 'warning signs' you should look out for to indicate whether something is a little fishy during an unsolicited call. He detailed the first thing to look out for is a blocked or unknown number, as well as three phrases in particular as an indicator you should hang up.
Read more: Internet users warned of four 'appalling' scams used to drain bank accounts
Speaking to The Sun, he said: "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'."
He went on: "Similarly, if the caller insists on installing certain apps or demands a comprehensive set of personal details, it is advisable to exercise caution."
The Mirror reports that the comments come after consumer champion Martin Lewis recently heeded warning over a 'disgraceful' deepfake scam advert for an investment app. The financial guru advised that people are using artificial intelligence and evolving technology to 'pervert and destroy' his reputation, in order to scam people online.
The advert, which has reportedly been doing the rounds on social media, appears to show Martin endorsing an Elon Musk-backed investment scheme, through a home video. The fake Mr Lewis says: "Musk's new project opens up new opportunities for British citizens. No project has ever given such opportunities to residents of the country," in the footage.
However, the clip is in fact AI-generated, using elusive deepfake technology to replicate the money expert's face and voice, using existing video and sound bites to make it appear legitimate. Talking to the BBC, Martin said: "It's pretty frightening.
"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 also acknowledged how it was the first time that he has been used in this sort of video scam. Martin, who is the founder of Money Saving Expert, said that more needs to be done to regulate scam adverts, to ensure that potential victims of financial crimes are protected.
He added: "Vulnerable people and many non-vulnerable people are being scammed in this country and nothing is being done about it," before detailing how there are no 'proper' fines for big tech firms who are paid to publish criminal advertisements. Owner of Facebook, Instagram, WhatsApp and new social media site Threads, is working with Stop Scams UK to help victims and to remove scams at the source, upon identifying them.
The worldwide tech Goliath said that scammers are using sophisticated methods to defraud people, which is regards an industry-wide issue. It also said that it is investigating the claims that the Martin Lewis video appeared on Facebook.
