It’s spooky season, and not just because of haunted houses and Halloween masks. The real ghosts lurking this October may be in your inbox. As artificial intelligence reshapes the digital landscape, cybercriminals are finding more creative ways to impersonate people, mimic institutions, and separate victims from their money.

Cybersecurity Awareness Month is the perfect reminder to shore up your defenses and recognize the red flags before a cyber scare becomes a financial nightmare.

The Current Threat Landscape

According to the FBI’s 2024 Internet Crime Report, Americans lost over $16 billion to internet crime last year: a 33% jump from 2023.[i] The top threats? Phishing, personal data breaches, and extortion. Now, AI has made each of these attacks faster, more convincing, and harder to spot.

Here’s how technology is changing the game:

• AI-Driven Phishing: Scammers use generative AI to craft near-perfect emails, texts, or even chat messages. These look polished, mimic familiar writing styles, and may include details from social media or public data to sound eerily personal.
• Deepfake Scams: Fraudsters now use AI-generated video or audio to impersonate loved ones, company executives, or even financial professionals.[ii] A convincing deepfake voice can urge victims to transfer money or “verify” account details.
• Synthetic Identities: Using fragments of real information, criminals build entirely fake financial profiles to open credit cards, apply for loans, or launder stolen funds.[iii] And over the past year, this type of fraud accounts for up to 80% of new account scams.
• Automated Ransomware: AI tools scan for digital weaknesses faster than humans can patch them, customizing attacks and ransom demands for individuals and organizations alike.

Spotting AI-Driven Phishing and Deepfakes

These scams often feel “off,” but AI makes them unnervingly authentic. Here are some warning signs to watch for:

• Unusual or Urgent Requests: Be skeptical of emails, texts, or calls that demand immediate action, especially regarding financial transfers. Verify the request using another contact method before acting.
• Perfect Polish: AI-generated messages tend to be grammatically flawless, well-structured, and unnaturally formal. If something feels “too professional,” that’s a clue.
• Hyper-Personal Details: References to recent transactions or personal information can make a message feel real, but may have been scraped from your online footprint.
• Suspicious Verification Links: Lookalike login pages or “security alerts” may lead to fake sites designed to steal credentials.
• Deepfake Video or Audio Cues: Watch for robotic tone, lagging lip-sync, or odd lighting in videos. If someone you know seems “off,” trust your instincts and confirm through another channel.

Smart Cyber Habits for Everyday Finance

The good news? You don’t need a degree in cybersecurity to stay safe. Implementing a few smart habits can drastically reduce your risk:

1. Turn on multi-factor authentication (MFA) for all banking, credit card, and brokerage accounts.
2. Use strong, unique passwords, ideally managed through a secure password manager.
3. Monitor your accounts regularly and set alerts for suspicious activity.
4. Avoid public Wi-Fi for financial transactions; use a secure home network or VPN.
5. Update software and apps frequently to patch vulnerabilities.
6. Educate family members, especially older relatives, about AI scams targeting seniors.
7. Never click links or download attachments from unverified messages, even if they appear to come from a trusted contact.

When in Doubt: Pause and Verify

The most effective defense against AI-driven scams is human awareness. Before transferring money, sharing login details, or reacting to an alarming message, take a breath and verify. Call the sender using a known number or contact your financial advisor for guidance.

At Larson Financial Group, we take cybersecurity seriously. If you ever notice unusual activity in your accounts – or a message that doesn’t feel right – contact your advisor immediately. Together, we can help safeguard your information and your financial future.

[i] https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf

[ii] https://thelyonfirm.com/blog/ai-driven-cyberthreats-in-2025/

[iii] https://www.fortinet.com/resources/cyberglossary/cybersecurity-statistics