MARC JACOBS
Hutch Post
HUTCHINSON, Kan. — Financial scams are becoming increasingly convincing as criminals use artificial intelligence, caller ID spoofing and other technology to pressure victims into sending money or sharing personal information.
Hutchinson Police Detective Pearson Schrag, who investigates financial crimes for the department, said common cases include impersonation schemes, account takeovers, stolen or altered checks, romance scams, identity theft and phishing attempts.
Schrag said the number of reported crimes may have increased slightly during his first year in the position, but the growing complexity of the schemes is a greater concern.
“They’re just starting to seem more realistic than they once used to be,” Schrag said during an interview on the BW Morning Show.
Scammers frequently impersonate law enforcement officers, courts, hospitals, the Internal Revenue Service or organizations such as Publishers Clearing House. They often claim a warrant has been issued, a relative has been arrested or injured, or the victim has won money.
The goal, Schrag said, is to create fear and urgency so the person responds before considering whether the request is legitimate.
Artificial intelligence has made that tactic more effective. Criminals can use brief audio clips from social media, interviews or online videos to create convincing imitations of another person’s voice.
Although older adults can suffer significant financial losses because they may have access to retirement savings and other assets, Schrag said people of all ages are targeted. Younger residents are also frequently victimized by online shopping, marketplace and account scams.
Some victims are instructed to purchase gift cards or load hundreds of dollars onto barcodes sent to their phones. Schrag encouraged retail employees to recognize repeated or unusually large purchases as possible warning signs and consider asking customers whether someone directed them to make the transaction.
Residents should not provide unsolicited callers with birth dates, Social Security numbers, addresses, PINs, passwords or account verification codes.
Anyone who receives an unexpected verification code should delete the message and change the password associated with the account, Schrag said.
Because scammers can manipulate caller ID information, an incoming call may appear to come from a bank, government agency or even the recipient’s own telephone number. Schrag recommended allowing unfamiliar calls to go to voicemail and independently calling the verified number listed on a bank card or official website.
Anyone who believes money has been stolen should contact their financial institution immediately. A bank may be able to stop a transaction, freeze funds or begin recovering the money. Victims should then report the crime to law enforcement.
Schrag also encouraged victims to preserve text messages, emails, telephone numbers, bank statements, check numbers and other records that could assist investigators.
“The biggest thing I always recommend people is just take a second, breathe and think it through,” Schrag said. “That’s what they want to do, is pressure you as much as they can.”
Residents may also report fraud to the Federal Trade Commission or the FBI’s Internet Crime Complaint Center.