Spam calls and identity theft: What you need to know

Do you receive calls from unknown numbers? Sometimes calls are even identified as being a potential spam risk. When receiving calls like these, what do you do? My preference is to just let the calls go to voicemail, but it can be tempting to answer when the call appears to be local. If you do answer a call from an unknown number, be aware that phone calls were the second most commonly reported method for fraud, with email being the most common, according to the Federal Trade Commission (FTC). Based on FTC data, consumers reported losing more than $12.5 billion to fraud in 2024, which is 25% more than reported the previous year. Identity fraud is continuing to become more sophisticated, including generative artificial intelligence (AI) voice cloning. 

The Federal Bureau of Investigation (FBI) has provided some tips to protect yourself, including:

• Create a secret word or phrase with your family to verify their identity.
• Look for subtle imperfections in images and videos, such as distorted hands or feet, unrealistic teeth or eyes, indistinct or irregular faces, unrealistic accessories such as glasses or jewelry, inaccurate shadows, watermarks, lag time, voice matching, and unrealistic movements.
• Listen closely to the tone and word choice to distinguish between a legitimate phone call from a loved one and an AI-generated vocal cloning.
• If possible, limit online content of your image or voice, make social media accounts private, and limit followers to people you know to minimize fraudsters' capabilities to use generative AI software to create fraudulent identities for social engineering.
• Verify the identity of the person calling you by hanging up the phone, researching the contact of the bank or organization purporting to call you, and call the phone number directly.
• Never share sensitive information with people you have met only online or over the phone.
• Do not send money, gift cards, cryptocurrency, or other assets to people you do not know or have met only online or over the phone.

Be cautious about protecting yourself when you are being asked for money. If you are feeling pressured to make a payment to someone, maybe consider the possibility that it is fraud. Never share personal information with someone who calls you. If you have received a call that seems suspicious, you can report it to the FTC to help prevent and fight against fraud at reportfraud.ftc.gov.

References

• Federal Bureau of Investigation. (n.d.). Criminals use generative artificial intelligence to facilitate financial fraud. Public Service Announcement. https://www.ic3.gov/PSA/2024/PSA241203
• Federal Trade Commission. (n.d.). Report fraud. ReportFraud.ftc.gov. https://reportfraud.ftc.gov/
• Federal Trade Commission. (n.d.). Report identity theft and get a recovery plan. IdentityTheft.gov. https://www.identitytheft.gov/