Scammers are evolving—are you prepared for what’s coming in 2025?
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Scams are becoming more sophisticated with each passing year, and 2025 is shaping up to be a particularly risky one.
As technology advances, so do the methods fraudsters use to target unsuspecting victims.
What seems like an innocuous message could easily turn into a devastating scam, leaving many wondering how they missed the warning signs. The question is, how can you stay one step ahead?
Hari Ravichadran, the CEO and founder of online safety company Aura, recently found himself on the receiving end of a highly sophisticated scam that nearly made him a victim of fraud.
While Ravichadran and his team are no strangers to scams, this particular attempt was so well-executed that it caused him to second-guess his usual skepticism.
The scam began with a thief allegedly stealing someone's identity to share a heart-wrenching story. The fake victim claimed that a bank had mistakenly sent Ravichadran her family’s home down payment and urgently needed him to wire it back.
This was no ordinary scam. The fraudster reached out not only to Ravichadran but also to several other executives at Aura.
The scammer communicated through what appeared to be a legitimate email address and social media profiles, even supplying accurate details about Ravichadran’s life.
The scammer further escalated things by arranging a Zoom meeting with a supposed bank employee, where Ravichadran and his lawyer were invited to resolve the situation.
Despite the convincing nature of the scam, Ravichadran remained cautious. He still feared the worst for the woman if her story turned out to be true.
However, things quickly took a turn when his lawyer joined the Zoom call. The so-called bank employee appeared for just a second before the conversation turned incoherent.
The lawyer suspected the individual was using an AI-powered deepfake.
Ravichadran’s experience highlights just how advanced scams have become. Unlike the generic fraud tactics of the past, today’s scams are increasingly personal.
Hackers can now exploit details gleaned from social media or data breaches, such as where you work and who your friends are.
With the rise of technology, scammers are also leveraging tools to reach their targets faster and more effectively. AI-powered chatbots and auto-dialling software, complete with local or regional accents, have made phone scams more convincing.
Ravichadran isn’t the only one worried about scammers. Cryptocurrency scams have surged, especially as crypto hits milestones like Bitcoin passing $100,000.
According to Nick Biasini, head of outreach for Cisco Talos Intelligence Group, scammers are increasingly targeting new investors.
A common tactic is “pig butchering,” or romance baiting, where scammers build a relationship with their target over time before asking them to invest in crypto. These scams often result in losses of hundreds of thousands of dollars.
Biasini warns that newcomers to crypto should exercise extreme caution, particularly when receiving unsolicited offers on social media. Some scammers even pose as experts promising to help victims recover lost funds, but their goal is always the same: to steal more money.
While multifactor authentication (MFA) is intended to protect users, scammers have developed ways to bypass this security measure. They may steal cookies that contain login credentials, allowing them to access victims' email accounts.
Once they have access, they can use MFA codes to log into other services, including bank accounts.
To protect yourself, the FBI recommends regularly clearing cookies, avoiding the “remember me” feature on websites, and ensuring you're browsing secure sites. You should also be wary of unsolicited messages or phone calls requesting sensitive information.
Workplace scams are on the rise, particularly those targeting high-level employees like CEOs and CFOs. These scammers often impersonate a colleague or executive to request urgent money transfers.
With the help of large language models like those powering OpenAI’s ChatGPT, scammers can create convincing scripts that sound entirely legitimate.
Ravichadran notes that these attacks often involve multiple channels of communication, such as email and social media, and they exploit stolen account details to increase credibility. Employees are urged to remain vigilant and report suspicious communications to their information security teams immediately.
AI has given scammers new and dangerous tools to work with. With large language models and deepfake technology, fraudsters can rapidly scale their operations, tricking more people than ever before.
By using AI chatbots that speak in regional accents or creating deepfakes of trusted individuals, scammers can easily manipulate victims into handing over their personal data.
As AI technology becomes more accessible and sophisticated, scams will likely become even more difficult to detect.
Ravichadran urges consumers to approach interactions involving money and personal information with skepticism. He also recommends basic security measures, such as changing passwords regularly and using a password manager to store complex credentials.
For a more robust defence, consider services that monitor your financial accounts and credit for signs of fraud. Ravichadran emphasizes that anyone can fall victim to a scam, regardless of their education or experience.
No one is immune to scams, and Ravichadran’s experience serves as a cautionary tale for everyone. Stay vigilant, protect your personal data, and don't hesitate to report fraud when you encounter it.
In a similar story, we explored how scammers are increasingly using financial distress as a tool to exploit individuals.
Services Australia has issued a warning about scammers targeting vulnerable Australians with a fake $600 Centrelink cash bonus, preying on growing concerns over the cost of living. Read the full story here.
Have you ever been targeted by a scammer? Share your thoughts and experiences in the comments below.
Stay ahead of the latest scams and protect yourself with the SDC’s Cybersecurity for Aussies Over 60 modules. Learn more here.
As technology advances, so do the methods fraudsters use to target unsuspecting victims.
What seems like an innocuous message could easily turn into a devastating scam, leaving many wondering how they missed the warning signs. The question is, how can you stay one step ahead?
Hari Ravichadran, the CEO and founder of online safety company Aura, recently found himself on the receiving end of a highly sophisticated scam that nearly made him a victim of fraud.
While Ravichadran and his team are no strangers to scams, this particular attempt was so well-executed that it caused him to second-guess his usual skepticism.
The scam began with a thief allegedly stealing someone's identity to share a heart-wrenching story. The fake victim claimed that a bank had mistakenly sent Ravichadran her family’s home down payment and urgently needed him to wire it back.
This was no ordinary scam. The fraudster reached out not only to Ravichadran but also to several other executives at Aura.
The scammer communicated through what appeared to be a legitimate email address and social media profiles, even supplying accurate details about Ravichadran’s life.
The scammer further escalated things by arranging a Zoom meeting with a supposed bank employee, where Ravichadran and his lawyer were invited to resolve the situation.
Despite the convincing nature of the scam, Ravichadran remained cautious. He still feared the worst for the woman if her story turned out to be true.
However, things quickly took a turn when his lawyer joined the Zoom call. The so-called bank employee appeared for just a second before the conversation turned incoherent.
The lawyer suspected the individual was using an AI-powered deepfake.
Ravichadran’s experience highlights just how advanced scams have become. Unlike the generic fraud tactics of the past, today’s scams are increasingly personal.
Hackers can now exploit details gleaned from social media or data breaches, such as where you work and who your friends are.
With the rise of technology, scammers are also leveraging tools to reach their targets faster and more effectively. AI-powered chatbots and auto-dialling software, complete with local or regional accents, have made phone scams more convincing.
Ravichadran isn’t the only one worried about scammers. Cryptocurrency scams have surged, especially as crypto hits milestones like Bitcoin passing $100,000.
According to Nick Biasini, head of outreach for Cisco Talos Intelligence Group, scammers are increasingly targeting new investors.
A common tactic is “pig butchering,” or romance baiting, where scammers build a relationship with their target over time before asking them to invest in crypto. These scams often result in losses of hundreds of thousands of dollars.
Biasini warns that newcomers to crypto should exercise extreme caution, particularly when receiving unsolicited offers on social media. Some scammers even pose as experts promising to help victims recover lost funds, but their goal is always the same: to steal more money.
While multifactor authentication (MFA) is intended to protect users, scammers have developed ways to bypass this security measure. They may steal cookies that contain login credentials, allowing them to access victims' email accounts.
Once they have access, they can use MFA codes to log into other services, including bank accounts.
To protect yourself, the FBI recommends regularly clearing cookies, avoiding the “remember me” feature on websites, and ensuring you're browsing secure sites. You should also be wary of unsolicited messages or phone calls requesting sensitive information.
Workplace scams are on the rise, particularly those targeting high-level employees like CEOs and CFOs. These scammers often impersonate a colleague or executive to request urgent money transfers.
With the help of large language models like those powering OpenAI’s ChatGPT, scammers can create convincing scripts that sound entirely legitimate.
Ravichadran notes that these attacks often involve multiple channels of communication, such as email and social media, and they exploit stolen account details to increase credibility. Employees are urged to remain vigilant and report suspicious communications to their information security teams immediately.
AI has given scammers new and dangerous tools to work with. With large language models and deepfake technology, fraudsters can rapidly scale their operations, tricking more people than ever before.
By using AI chatbots that speak in regional accents or creating deepfakes of trusted individuals, scammers can easily manipulate victims into handing over their personal data.
As AI technology becomes more accessible and sophisticated, scams will likely become even more difficult to detect.
Ravichadran urges consumers to approach interactions involving money and personal information with skepticism. He also recommends basic security measures, such as changing passwords regularly and using a password manager to store complex credentials.
For a more robust defence, consider services that monitor your financial accounts and credit for signs of fraud. Ravichadran emphasizes that anyone can fall victim to a scam, regardless of their education or experience.
No one is immune to scams, and Ravichadran’s experience serves as a cautionary tale for everyone. Stay vigilant, protect your personal data, and don't hesitate to report fraud when you encounter it.
In a similar story, we explored how scammers are increasingly using financial distress as a tool to exploit individuals.
Services Australia has issued a warning about scammers targeting vulnerable Australians with a fake $600 Centrelink cash bonus, preying on growing concerns over the cost of living. Read the full story here.
Have you ever been targeted by a scammer? Share your thoughts and experiences in the comments below.
Stay ahead of the latest scams and protect yourself with the SDC’s Cybersecurity for Aussies Over 60 modules. Learn more here.
