said that it had seen a 33 per cent increase in the number of scams reported this year and believed AI was “fueling this rise”. Paul Hampson, managing director of CEL Solicitors, predicted that the problem was “only going to get worse”.have thrust AI into the spotlight over recent months – and the criminals who run these schemes are unlikely to miss out on using new technology. While AI has been around for years, it’s only recently entered the public conversation in a major way,” he said.
“You should always think, ‘Would my bank speak like this?’ But accessing AI technology means scammers can create a bot to write a message and instruct the software to mimic the style of a specific organisation,” he said. “This can be very convincing, with accurate spelling and grammar always in place. AI paired with machine-learning could also be used to generate new scams, scanning collective intelligence from different data sets and determining a new approach that carries no warnings.
Mr Hampson also recommended relatives talk to older loved ones, or young family members, about the risks of scams. UK Finance recommended people follow a “Take Five” system, beginning with taking a moment to stop and think before handing over money. They add that it is “ok to reject, refuse or ignore any requests” and that ““, encouraging you to challenge the sender or asking questions if you’re unclear.