The recent launch of ChatGPT and advances in AI (Artificial Intelligence) technology means a whole new world of opportunities for all of us … including scammers. Algorithms can quickly put together a sleek, professional-looking email that looks convincingly like something from your bank. AI programming offers the ability to clone voice samples that sound just like someone you know – perhaps even your banker.
How do they access my personal information?
Scammers “phish” for personal information using AI or ChatGPT to gain access to your confidential bank account details. Whether via email, text, or a phone call, their goal is to craft a customized, convincing message that gets the user to share sensitive information (such as authorization to change signers on the account). They may send fraudulent business documents that look compellingly legitimate, or sample an audio clip of someone from your bank to create an urgent-sounding voicemail. Once the signers are changed, they can request wire transfers to steal funds from your account.
What precautions are in place to protect my accounts?
At First National Bank of Mount Dora, we have programs in place to alert us of unusual activity. If we notice something unusual on your account, we will call you to confirm. Additional verification steps will be required for requests not made in person.
How do I protect myself?
- Trust your intuition. If an email, text, or call seems out of the norm, it probably is. Don’t divulge any personal or financial information.
- If you do receive suspicious phone calls or emails, close the email, hang up the phone, delete the text and do not respond, call your bank directly, stop by your local office, or log into your account to verify them. Don’t click on any links.
- Keep recent copies of your bank transactions and communications for verification purposes.
- Ensure that you continuously update your browser and phone with the latest virus protection and malware alerts.
- Most often scammers will create a sense of urgency regarding their request to create a panic with the goal of convincing the victim to act without having the opportunity to think about what is happening.
If you suspect that you have been a victim of fraud, or if you would like to discuss ways to keep your checking account more secure, call us at 352-383-2111.