A significant increase in fraudulent activity targeting bank customers has been observed, particularly through social media platforms. Scammers are now employing highly sophisticated tactics, including the use of Artificial Intelligence (AI) and deepfake technology, to create convincing fake advertisements.
These deceptive ads are appearing on popular sites like Instagram, often impersonating major financial institutions. One notable instance involves fake ads pretending to be from BMO, utilizing AI deepfakes to mimic the appearance and voice of individuals associated with the bank, such as executives. This level of technological manipulation makes the fake ads appear alarmingly legitimate.
The primary goal of these campaigns is to trick users into clicking on links embedded in the advertisements. These links lead to fraudulent websites meticulously designed to resemble the official bank site. Once on the fake site, users are prompted to enter sensitive data, such as personal information, login credentials, and financial details. This stolen data is then used for identity theft or direct financial fraud.
Staying safe in this evolving threat landscape requires vigilance. Bank customers should be extremely cautious of unsolicited ads, even if they appear to feature familiar faces or branding. Never click on links directly within social media advertisements claiming to be from your bank. Instead, if you see an offer or alert, navigate directly to your bank’s official website by typing the known URL into your browser or using their official app. Banks will rarely, if ever, ask for sensitive information through links in advertisements or unexpected messages. Always verify any suspicious communication through official channels. Be aware of the potential for deepfakes to create realistic-looking but ultimately fake content designed to defraud you. Protecting your personal information and financial security is paramount in the face of these advanced AI-powered scams.
Source: https://www.bleepingcomputer.com/news/security/instagram-bmo-ads-use-ai-deepfakes-to-scam-banking-customers/
