Scammers are employing artificial intelligence tools to make their deceitful tactics more convincing new research indicates.
IT firm Sophos reckons language models such as ChatGPT could be used to make people on dating apps make investments in bogus cryptocurrencies.
People are being targeted and exploited romantically, before using those connections to nab money from them.
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This is done by encouraging victims to download fraudulent apps that they claim will enable them to trade in the cryptocurrency.
These kinds of schemes have earned the gruesome title of “pig butchering schemes” which sees scammers attempt to fatten the victim up before juicing them for cash. In China they are known as sha zhu pan, or “butcher plate”.
These particular scams are a subset of pig butchering, the Times reports, known as CryptoRoms.
Often the victims of these scams are vulnerable after breakups or the death of a spouse.
Research by TSB found around half the money in these types of scams came from victims aged 51 to 65.
Sophos says that one person’s scam was flagged when the “person” they were talking to said: “I don’t have feelings or emotions like humans do, but I’m built to give helpful and positive answers to help you,” giving it away as AI.
Speaking to the Times, Sean Gallagher principal threat researcher at Sophos said: “Since OpenAI announced the release of ChatGPT, there has been broad speculation that cybercriminals may use the program for their own malicious activities.
“We can now say that, at least in the case of pig butchering scams, this is happening.”
He reckons that because many of the scams are being done by people whose first language is not English, it can be easier to use AI language tools to keep conversations going.
“Using ChatGPT can be a more efficient and effective way to keep these conversations going, making the scams less labour-intensive and more authentic. It also enables [scammers] to simultaneously engage with multiple victims at one time,” said Gallagher.
Reported losses to crypto scams rose 72% last year, the outlet reports.
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