AI is increasingly prevalent in the modern world.
While there are plenty of legitimate uses for the rapidly advancing technology, fraudsters are also finding ways to use it to make scams harder to recognise.
Fraud is already a serious problem in the UK. According to the BBC, almost £1.3 billion was stolen by scammers in 2025, and many victims reported experiencing new, highly sophisticated tricks.
AI can make traditional scams more convincing, making it harder to discern what’s real and what’s not. There are even reports of people receiving calls, supposedly from their financial adviser, telling them to move money, only to find out that they were speaking to an AI voice, imitating the adviser.
Read on to discover the warning signs of an AI scam, as well as some of the most common ones you may encounter.
The warning signs of an AI scam are similar to those of traditional scams
The technology driving AI scams may be new, but the tactics used by the fraudsters behind them are often familiar.
Be particularly cautious if someone:
- Creates a sense of urgency: This might include being told that you need to act immediately to avoid losing money, missing an opportunity, or putting someone you care about in danger.
- Offers something that sounds too good to miss: This could be an unusually high investment return, a prize, or another financial opportunity.
- Claims to be someone you trust: They may say they are calling from your bank, HMRC, an internet provider, or a financial firm.
- Asks you to do something unusual: For example, transferring money to a new bank account, installing software, or setting up a new payment.
- Requests sensitive information: Be suspicious of anyone asking for passwords, PINs, security codes, or card details.
These signs matter even if the person contacting you sounds genuine or the message looks professional.
AI scams can vary, but there are several common ones you should be aware of
The best way to protect yourself against AI scams is to be aware of what they look like.
Here are some of the most common ones you may encounter.
Voice cloning scams
One of the most unsettling uses of AI is the ability to imitate someone’s voice. A fraudster may be able to create a convincing imitation using audio taken from social media or online videos.
You might receive a call from someone who sounds exactly like your child or partner, claiming they are in an emergency and urgently need you to send money.
If you encounter this situation, don’t let them rush you into making a decision.
If something doesn’t feel right, end the call and contact the person using a number you already have for them. You could also try asking a question that only the real person should be able to answer.
AI-generated emails
Poor spelling and grammatical errors used to be some of the tell-tale signs of a scam email. However, AI means that fraudsters can now produce polished, professional-looking messages much more easily.
An email could appear to come from your bank, financial adviser, or another trusted organisation. It may use convincing language and branding and give you a good reason to take action.
If you are sent an email such as this, make sure you don’t use the links or contact details in it to check whether it is genuine.
Instead, contact the organisation separately using details you already know are legitimate. You should also never provide passwords or PIN codes in response to an unexpected email or phone call.
Deepfake investment scams
AI can also be used to create remarkably realistic videos and audio recordings of people saying things they never actually said. This can be particularly dangerous when combined with investment fraud.
Scammers have been known to create videos of celebrities or financial professionals appearing to recommend an investment that turns out to be fraudulent.
Never make an investment decision based solely on a video, social media post, or online advert. Do your own checks before handing over any money. If a firm is offering financial services in the UK, check whether it is authorised using the FCA Firm Checker.
Fake websites
Fake sites have long been used in scams, but they can now be filled with professional-looking copy, images, and branding that make them appear much more credible.
You could find yourself on a fraudulent website by clicking through a social media advert, search result, or email.
However, don’t assume a website is genuine simply because it looks professional.
Before entering any personal information or making a payment, check that you’re dealing with the real organisation. Pay attention to the website address, as fraudulent sites may use addresses that are very similar to legitimate ones.
If you’re unsure, leave the site and find the organisation’s official website independently rather than following a link you’ve found elsewhere or been sent.
What should you do if you’ve been scammed?
If you think you’ve fallen victim to an AI scam, contact your bank as soon as possible. They may be able to help protect your account or recover some of the money. You should also secure your accounts and change any passwords.
If you’re in England, Wales, or Northern Ireland, you can report fraud through Report Fraud. In Scotland, you can contact Police Scotland on 101.
Get in touch
Our team of independent financial advisers in Lewes is here to help you stay protected against the latest scams.
To find out more, please get in touch by emailing us at financial@barwells-wealth.co.uk or by phone on 01273 086 311.
Please note
This article is for general information only and does not constitute advice. The information is aimed at individuals only.
All information is correct at the time of writing and is subject to change in the future.
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