How Can Artificial Intelligence Scams Affect My Credit Score?

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As artificial intelligence (AI) becomes more commonplace in today’s society, it’s essential to be aware of the risks of this technology. Unfortunately, many may be unaware of the impact that succumbing to an AI scam can have on their credit. As such, familiarizing yourself with common scams and how they can damage your credit is critical to protecting yourself and your financial future. The following blog covers what you must know and how a California consumer lawyer can help if you’ve been a victim of these scams.

What Are Common Artificial Intelligence Scams?

Scams aimed at consumers have been around for decades. However, with the recent boom in AI technology’s sophistication, the risks have drastically increased.

One of the most common ways scammers will use AI is to mimic the voice of your loved ones. They will then call you, pretending to be in distress before demanding sums of money or access to bank accounts. Scammers can obtain this information by calling loved ones to record their communications before hanging up or taking soundbites of them from the internet. Unfortunately, these scams can be harrowing, and many have fallen victim due to their realistic nature.

A popular scam that has been around for years is phishing emails and messages. Scammers will clone communications from legitimate financial institutions or companies to gain your login or payment information. However, in years past, scammers would have to manually reconstruct the format and text of these phishing messages. Unfortunately, AI technology has made it easier to clone these messages, meaning they are more convincing than ever. As such, people are less suspecting of the illegitimacy of these emails, as they look and sound legitimate.

Both scams can impact your credit score, as the funds and information you provide can be taken and used against you. For example, if you click a link in a phishing email and enter the login details for your online banking account, the scammers can take this information and apply for loans in your name.

What Should I Do if Scams Damage My Credit?

If you have fallen victim to a scam by providing someone login information or access to your accounts, it’s necessary to understand how to proceed. The first thing you should do is inform the financial institutions of the scam and ask them to freeze your accounts. This helps prevent the hacker from taking any additional funds from your account.

Next, you’ll want to report the scam to the FTC. This is essential if you believe you are at risk for identity theft because of the scam. The FTC can provide a report on how to proceed to secure your identity.

Finally, you’ll want to ensure you monitor your credit report to ensure there are no errors or unauthorized accounts listed. If there are, you’ll want to file a report with the reporting agency to have the inaccurate information removed.

In the event you’re impacted by an artificial intelligence scam or have trouble getting inaccurate information removed from your credit report, it’s imperative to contact an attorney. At LA Legal Solutions, we understand that recognizing and adapting to new technology can be difficult. As such, our team is dedicated to doing everything possible to help you recover the compensation you deserve for the damages you’ve suffered. Contact us today to learn how we can help you.

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