FROM DEEPFAKES TO CHATGPT PHISHING, WARNING OVER RISING SCAM THREAT AI POSES | Katie Paxton-Fear

Podcast Radio Business Interviews

Katie Paxton-Fear, lecturer in Cybersecurity at Manchester Metropolitan University speaks to Clayton M. Coke of Podcast Radio Business to discuss FROM DEEPFAKES TO CHATGPT PHISHING, WARNING OVER RISING SCAM THREAT AI POSES.

With fraudsters scamming more than £1 billion, 48% of us feel more at risk of scams

We are being warned about the growing threat Artificial Intelligence (AI) poses to us as it emerges that fraudsters have already scammed more than £1 billion from our bank accounts since the start of the year.

Top 3 Scamming Tactics This Year

• Phishing Emails or Messages (11%)
• Contact from unknown individuals (11%)
• Fake Online Shops (8%)

Almost half of us (48%) are feeling more at risk of scams as scammers become increasingly sophisticated in how they use advances in technology to overcome the measures financial institutions put in place to protect us. Conventional scams are difficult enough to spot, but AI-based scams are even more dangerous because they are even harder to detect.

Deepfakes allow criminals to create seemingly legitimate audio and video, often featuring someone famous, while ChatGPT phishing gives text the tone and coherence of legitimate sources, voice cloning replicates somebody’s tone and language to trick someone else into having a genuine phone conversation, and verification fraud can be used to subvert standard security checks. With these tools ready to use at the scammer's will, a surprising three in five (61%) UK adults are confident they can tell the difference between human and AI-generated communication.

Despite us losing on average £83.69 as a result of scams in the last year, with them costing men (£93.48) more than women (£70.22), fewer than a third (30%) of us report the incident to the bank, according to Raisin’s research, with only a quarter notifying the relevant online sales platform, with more than one in four (27%) not reporting the scam at all. This may be due to anemotional cost, with us most likely to feel very angry (28%) and anxious (27%), while 23% develop trust issues.

RESEARCH INFORMATION:

The research for Raisin was carried out online by Opinion Matters throughout 23.02.2024 – 26.02.2024 amongst a panel resulting in 2000 UK adults responding.

All research conducted adheres to the MRS Codes of Conduct (2010) in the UK and ICC/ESOMAR World Research Guidelines. Opinion Matters is registered with the Information Commissioner's Office and is fully compliant with the Data Protection Act (1998).