Fraud alert: From fake election ads to other scams, here’s what you need to know right now
The scale of cyber fraud is staggering, with older adults disproportionately impacted, according to the FBI. In the U.S. alone, scams targeting people older than 60 led to over $3.4 billion in losses in 2023—an increase of approximately 11% from the previous year. The average victim lost $33,915 due to these crimes, the FBI reports.
Scams these days are becoming more sophisticated, with bad actors taking advantage of evolving Technology. With the U.S. presidential election around the corner, it’s not surprising that campaign-related scams are on the rise, many of which feature AI-generated images of celebrities and politicians. For this scheme, scammers create fake videos and photos of famous figures endorsing specific candidates or making inflammatory statements. These digitally altered images are then used to mislead voters, in the attempt to influence the outcome of the election.
In some cases, they even attempt to discourage voting in certain districts by spreading false information about polling locations or requirements. This deepfake content can appear to be legitimate, particularly when you’re quickly scrolling through social media feeds or aren’t familiar with the growing prevalence of AI manipulation. (Read our story: How to protect yourself from AI-driven “deepfake” scams.)
Another campaign-related fraud has to do with fundraising. In this case, cybercrooks pose as political organizations or candidates, soliciting donations through phone calls, emails, texts, or social media. These fraudulent campaigns frequently mimic the branding of real political figures, making it difficult to distinguish between authentic and fake requests.
With a Canadian election due next year (if not sooner), our Canadian readers should also pay close attention to this information.
Getting personal
Scams are becoming more individualized, as hackers and scammers leverage Artificial Intelligence to better target their victims. With the help of AI’s data processing power, messages can appear to come from someone you know or be about an issue that is particularly meaningful to you—even more reason to remain vigilant.
Older scams are continuing to make rounds as well. Tech support scams involve fraudsters pretending to be IT specialists, often claiming that the victim’s computer is infected with malware. They offer to fix the problem for a hefty fee, which may result in compromised personal data or access to sensitive financial information.
Imposter fraud, where scammers pose as government officials, such as from the Internal Revenue Service (IRS), remains another serious risk. These scammers typically demand immediate payment, say, for unpaid taxes, or threaten the victim with legal consequences.
Grandparent scams have also been making a comeback. In these schemes, scammers impersonate a grandchild or close relative, claiming to be in urgent need of financial help. Using personal details from social media, fraudsters make their appeals sound believable, leaving people feeling pressured to act quickly and send Money before verifying the story. (For more on recent scams, see our story: Staying cyber safe: 11 top scams and how not to fall for them.)
The bottom line
As digital fraud becomes more prevalent and sophisticated, it’s more important than ever to verify any financial request, whether it’s related to donations, tech support, or personal emergencies. By remaining vigilant, documenting suspicious activities, and involving trusted family members or law enforcement when in doubt, you can protect yourself from falling victim to these evolving scams.
More on scams and frauds:
“Pig Butchering”: What you need to know about this multibillion-dollar crypto scam
That’s all we need: Now AI is creating scams targeting older people
