During the 2000s, email scams became all too commonplace — the promise of receiving huge sums of money only if you pay the “transfer” fee ran rampant and fooled many innocent victims.
Now, we’ve entered a new age of scamming where scams have become more sophisticated, driven by the rise of AI and voice-cloning. A recent study conducted by McAfee pointed out how dangerous voice cloning scams have become. According to the cybersecurity firm, 1 in 4 adults have now experienced an AI voice cloning scam or know someone who has. The financial losses connected to those scams are quite alarming, as well. For instance, the Deloitte Center for Financial Services predicts fraud losses caused by generative AI are projected to increase from $12.3 billion in 2023 to $40 billion by 2027.
