In the age of AI, protecting your money starts with a healthy dose of skepticism

Scammers are getting smarter, and so should we.

Spotting a scam used to be simple. A suspicious email with misspelled words, awkward grammar or an unfamiliar-looking link. Those were often the first clues someone was trying to steal your personal information or hard-earned money. Today, those warning signs aren’t as reliable.

Artificial intelligence, or AI, has made it easier than ever for scammers to craft convincing emails, impersonate trusted organizations and even replicate the voices of people we know. A phone call that appears to come from your financial institution or a desperate plea from a family member might not be what it seems.

October is Cybersecurity Awareness Month, an important reminder protecting your financial health requires more than making smart decisions about saving, spending and borrowing. It also means knowing how to recognize and respond to increasingly sophisticated scams. And perhaps the most important thing to remember is a little skepticism can go a long way.

Cybercriminals have long relied on fear, confusion and urgency to manipulate their victims, but their ability to make those tactics more convincing has changed. 

Consider a phone call from someone claiming to represent the IRS, warning that an unpaid bill could damage your credit. Or a text message from someone posing as a loved one who urgently needs money to get out of trouble.

With today’s technology, scammers can disguise phone numbers, create realistic messages and even imitate familiar voices. These tactics can make it difficult to distinguish legitimate communications from fraudulent ones.

And while older adults are often considered particularly vulnerable, the reality is anyone can become a target. Scammers prey on circumstances, not just age. They may exploit financial hardship, family emergencies or someone’s willingness to help.

Fortunately, even as technology evolves, some of the warning signs remain consistent. The biggest is urgency. Scammers frequently insist you act immediately, before you have time to question their story. They may discourage you from speaking with family members or create a sense of embarrassment all while walking you through detailed instructions for transferring money (another potential scam indication).

If someone pressures you to make a financial decision immediately, particularly during an unsolicited conversation, that’s your cue to stop and think. While cybersecurity can seem overwhelming, protecting yourself doesn’t have to be complicated.

Verify before you act. If you receive an unexpected call, email or text requesting personal information or money, end the conversation and contact the organization directly using a trusted phone number or website. Don’t rely on the contact information provided in the suspicious contact.  Scammers will attempt to keep you on the phone while a legitimate institution will completely understand.

Keep a close eye on your accounts. With automatic payments and digital banking, it’s easy to go weeks without reviewing individual transactions. Make it a habit to regularly check your statements and account activity. Contact your financial institution if something doesn’t look familiar.

Protect your personal information. Consider freezing your credit if you aren’t planning to apply for a loan soon. Be thoughtful about what you share on social media, and exercise due diligence and caution should you choose to connect financial accounts to third-party apps or AI tools. Every additional place you share sensitive information creates another potential point of exposure.

And don’t let embarrassment stop you from coming forward if something like this happens. Even the most cautious consumers can fall victim to fraud. What matters most is how quickly they respond.

Contact your financial institution or card issuer immediately if you suspect you’ve shared sensitive information or transferred money to a scammer. Many institutions help through the customer service numbers listed on debit and credit cards even on weekends or holidays.  

Also consider filing a police report while the details are fresh in your memory and share that information with your financial institution.  You are the first line of defense, and your institution can help you navigate the dispute process.  

Technology will continue to evolve, and scammers will undoubtedly find new ways to exploit it. But one of our strongest defenses is simple: take a moment to question what we’re being told. Because when it comes to protecting your financial future, a few extra moments of caution could save you months or even years of financial hardship.

Kyle Pierce is vice president of information security at Everwise Credit Union. The information provided is for educational purposes only. The views and opinions expressed are solely those of the author. This information should not be considered to constitute financial, tax, legal or accounting advice or recommendations. Please consult with an attorney, financial or tax professional for guidance.