(FOX9) – As the holiday season begins, shoppers are being warned about a new wave of scams, many of which are driven by artificial intelligence.
Holiday scams are on the rise
What we know:
U.S. consumers lost more than $12.5 billion to fraud in 2024, and online shopping was the second most common type of fraud. One in three Americans has fallen victim to a holiday scam, and more than half have lost money.
AI-powered scams are becoming increasingly common, with fraudsters using technology to create fake retail websites, phishing emails, and deepfake videos that impersonate trusted brands and influencers.
New fraud trends
What they are saying:
“AI has made fraud more convincing and harder to detect,” said Larry Zerbin, head of security advisory at BMO. “Scammers can now imitate trusted brands and voices with amazing accuracy. Consumers need to be more skeptical than ever.”
Zerbin advises that even if a deal seems too good to be true, it probably is. He suggests slowing down, checking your sources, and warily deprioritizing urgency.
Consumer protection tips::
Consumers are advised not to click on links in emails or texts and instead go directly to the retailer’s website. Validating URLs and looking for HTTPS security indicators can help keep you safe. We recommend using a credit card for added fraud protection compared to debit or payment apps.
What you can do:
“Limited time offers” are a common scam, so be skeptical of the urgency. Research unfamiliar sellers before buying, especially on social platforms.
source: This article uses information from press releases reported by BMO and FOX 9.
