ChatGPT boss admits AI could create scam ‘crisis’: Here’s how YOU can protect yourself
AI Voice Scams: Why Experts Fear a Global Fraud Crisis
by Sonya Cassidy for Tab2Mag .
Artificial intelligence is reshaping our world—but experts warn it’s also arming fraudsters with dangerous tools. OpenAI boss Sam Altman recently cautioned that AI could spark a “significant fraud crisis,” telling the US Federal Reserve that technology has already outpaced most current security measures. “AI has defeated most ways people authenticate, other than passwords,” he said, warning that criminals are using voice cloning and deepfake video technology to trick unsuspecting victims.
In the UK, these scams are no longer rare. Starling Bank research found almost one in three people believe they were targeted by an AI voice scam in the past year alone. Criminals need just three seconds of recorded speech to copy someone’s voice—enough to impersonate loved ones and persuade victims to hand over cash or sensitive information.
The scale of financial fraud is alarming: UK offences rose 46% in the past year, while global losses from scams topped $1.03 trillion in 2024.
Experts urge people to set up a “safe phrase” with close family and friends to confirm identity during unexpected calls. Avoid posting voice recordings online and question unusual requests for money or data. “If something feels off, pause and double-check,” says financial crime specialist Sarah Lenette. “The best defence is staying alert and thinking twice.”
