AI-Powered Fraud Is Booming: Expert Warns Families About New Scams

Beyond her firm's operational work, Hetherington is a prolific author of books on cyber investigations and annually trains thousands of professionals, including investigators, security experts, attorneys, accountants, auditors, military intelligence personnel, and various federal, state, and local agencies. She also publishes an industry newsletter, maintains an online blog, and founded the annual OSMOSIS Conference in 2015 through the OSMOSIS Institute. Her dedication to the field has earned her numerous accolades, including the Women in IT New York's 2022 Security Leader of the Year award, the Protective Intelligence Pioneer Award in 2021, and the Enterprising Woman of the Year Award in 2019. She was also named the James Baker Speaker of the Year by the Association of Certified Fraud Examiners in 2012.

Hetherington challenges the common misconception that elder fraud is solely a result of age-related vulnerability. She firmly states, "Fraud is a technology problem, not an age problem." She argues that the core issue is the rapid advancement of technology, which outpaces public understanding and protective measures. To help families identify potential threats, Hetherington highlights three critical warning signs: unfamiliar phone numbers, any sense of urgency from a caller, and offers that seem "too good to be true." She emphasizes that with AI's growing sophistication, the voice, face, or message received may not belong to a real person.

One particularly dangerous scheme Hetherington discusses is "pig butchering." This method involves an attractive individual building trust with a victim online over an extended period, eventually manipulating them into making fraudulent financial investments. She has observed cases where victims have lost hundreds of thousands of dollars from their bank accounts and retirement savings through this tactic, primarily because they struggle to accept that the person they developed a connection with was not genuine.

To safeguard against these evolving threats, Hetherington offers practical advice. Families should never share personal identifying information, family member names, or Social Security numbers over the phone or online. If a bank, lender, or credit card company calls, the safest course of action is to end the call and then dial back using a verified number from a statement, rather than relying on a number provided by the caller. All unsolicited offers, regardless of how legitimate they appear, should be treated with immediate suspicion. She also advises families to become "an extra set of eyes" in their older relatives' financial matters, framing this involvement as a partnership in maintaining independence, rather than an intrusion, because as she notes, "the fraud is that good."

The broader implications of AI in fraud are stark. AI-generated phishing emails achieve significantly higher click-through rates than human-written ones, making scams more effective. A mere three seconds of recorded audio can now produce a voice clone that is 85% accurate. The most common attack pattern involves cloning a grandchild's or adult child's voice to fabricate an emergency, preying on urgency and emotional connection. Hetherington's work, which includes training on open-source intelligence (OSINT) and the use of social media in investigations since as early as 2011, demonstrates her long-standing recognition of evolving digital threats and her commitment to educating others on investigative techniques. These scams target all age groups, making proactive family involvement and widespread awareness more critical than ever.