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Hot Topics – Protecting yourself from deepfake advisor scams

Technology is evolving quickly, and unfortunately, so are fraudsters. A newer type of scam involves the use of artificial intelligence (AI) to mimic a person’s voice. This means someone could sound just like Marni & Krissy on the phone, even when it’s not them.

These scams are often called “deepfake” scams. Fraudsters can create a convincing copy of a real person’s voice using short audio clips from online videos, webinars, or other recordings. They may then call you pretending to be your advisor and ask you to move money, share personal information, or act quickly on a ‘time-sensitive’ opportunity.

This type of fraud is similar to the well-known ‘grandparent scam,’ where criminals pretend to be a grandchild in distress to trick victims into sending money urgently. The key difference is that deepfake technology can make the voice sound extremely real: sometimes identical to someone you know and trust.

Because of this, it’s important to remember that hearing a familiar voice is no longer enough to confirm someone’s identity. Fraudsters can also spoof caller ID, making it appear as though the call is coming from a trusted phone number.

Here are some simple steps you can take to protect yourself:

  • Be cautious of any unexpected or urgent requests involving money or sensitive information.
  • Take a moment to pause, even if the caller seems convincing or pressures you to act quickly.
  • If something doesn’t feel right, trust your instincts.

If you are ever unsure about a call from your advisor, politely end the conversation and let them know you will call them back. Then, contact your advisor using the phone number you already have on file or regularly use to verify whether the call was authentic.

Taking this simple extra step can help ensure you are speaking with the right person and protect you from potential fraud.

Staying alert and following a few careful practices can go a long way in keeping your accounts and personal information safe.

 

Warm regards,

The Harvey Morrison Team

 

Please ensure you have our contact information as below:

 

Marni Harvey

Email: marni.harvey@wellington-altus.ca

Office: 639.638.3482

 

Krissy Morrison

Office: 639.638.2528

Email: krissy.morrison@wellington-altus.ca

 

Wellington-Altus Private Wealth

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