As AI technology advances, so do the methods fraudsters use to exploit it. Artificial Intelligence (AI) refers to a machine's ability to imitate human intelligence, using advanced algorithms and machine learning to mimic human thinking and decision-making. Scammers are leveraging AI to manipulate data, bypass security measures, and target financial institutions and their customers.
Below are some of the most concerning ways AI is used in bank fraud, along with tips to protect yourself.
Creating Fake Identities
AI can combine real and fake data to build convincing identities, pulling information from online sources to pass identity verification systems. These fake profiles are often used to open fraudulent accounts or take over existing ones.
Protection Tip:
Double-check suspicious accounts or transactions. Use multi-factor authentication (MFA) for your Metro accounts to increase security.
Copying Important Documents
AI can generate realistic forgeries of passports, driver’s licenses, and other identification documents, enabling fraudsters to skip identity verification processes and access accounts.
Protection Tip:
Always keep your personal documents secure and be cautious when sharing them online. If you suspect your information has been compromised, immediately contact Metro to lock accounts and report the issue.
Phishing Scams
AI can create convincing phishing emails and messages, automating and scaling attacks to make them more targeted. Fraudsters mimic a financial institution’s style to create emails or texts that appear authentic, often containing links that steal personal information.
Protection Tip:
Be cautious with unsolicited emails or texts. Verify requests for personal or financial details, check the sender’s address, and avoid clicking links. Instead, access Metro’s website or mobile app directly.
Metro Credit Union will never ask you to click a link via text!
Voice Cloning
AI can clone voices using a few seconds of audio, enabling fraudsters to impersonate family members or trusted sources. Scammers may claim to be loved ones in distress, urging you to transfer money immediately.
Protection Tip:
Never send money based on a phone call alone. Verify the caller’s identity by contacting them directly or consulting other family members.
Metro Credit Union will never call or text you to ask for your sensitive information or have you click a link in a text message.
Deepfake Videos
Deepfake videos, created with AI, can impersonate family, friends or trusted sources to manipulate you into revealing personal information or making financial transactions, making scams appear legitimate.
Protection Tip:
Be skeptical of video requests for money or sensitive information. Verify the source and seek a second opinion if something seems unusual.
Fraud Detection Bypasses
Advanced AI systems can analyze security processes to make fraudulent transactions appear legitimate, bypassing fraud detection measures.
Protection Tip:
Regularly monitor account statements for unusual transactions. Set up fraud alerts on online banking to receive instant notifications of suspicious activity.
Fake Websites and Apps
Scammers use AI to create fake websites and mobile apps that mimic financial institution interfaces, tricking customers into sharing sensitive information.
Protection Tip:
Check URLs for “https” and avoid downloading apps from untrusted sources. Visit our website for more information about our mobile app.
Final reminder: How to protect yourself from AI-driven fraud
- Turn on multi-factor authentication (MFA) for your accounts to reduce the risk of unauthorized access.
- Treat unexpected messages as suspicious, especially if they create urgency or ask for personal or financial information.
- Do not click links in unsolicited emails or texts claiming to be from your financial institution; go directly to the official website or mobile app instead.
- Keep sensitive documents secure and be cautious about sharing identification details online.
- Verify “family emergency” calls or messages through a trusted method before sending money, since AI can clone voices and mimic people convincingly.
- Be skeptical of videos requesting money or sensitive information; deepfakes can look real, so confirm through another channel.
- Monitor your accounts regularly and enable alerts so you can catch unusual activity quickly.
- Only use trusted websites and app stores, and check for secure URLs (https) to avoid fake sites and lookalike apps.
- If something feels off, act fast by reporting it right away through official channels (phone, in person, or secure message center).
HOW TO REPORT FRAUD
If you believe you’ve been a victim of fraud or have unrecognized transactions on your Metro Credit Union account, contact us immediately:
By Phone: 402.551.3052
In Person: Visit one of our branches
Online: Use the secure Message Center in the Metro Credit Union app or website
Visit our fraud protection page regularly for current scams facing consumers, and insights on how to protect your identity, personal information, your loved ones, and your money.
