Seniors are frequent targets of AI fraud scams — and voice cloning raises the risks
Expert Steve Weisman warns AI voice cloning is boosting scams as FTC-reported losses hit $15.9B last year.
The rise of AI voice cloning is a concerning development for the construction industry, particularly when it comes to targeting seniors. As we know, seniors often have significant equity in their homes, making them prime targets for scammers. With AI voice cloning, scammers can now convincingly impersonate family members, contractors, or other trusted individuals to trick seniors into divulging sensitive information or making unauthorized payments.
This trend is especially relevant to the construction industry, as seniors may be looking to renovate or repair their homes, making them more vulnerable to scams. For instance, a scammer could use AI voice cloning to pose as a contractor, claiming to need payment for a project that was never completed or not done to standard. The FTC's reported losses of $15.9 billion last year are a stark reminder of the financial devastation that these scams can cause.
As the construction industry continues to navigate the challenges of an aging population and increased demand for senior-focused services, it's essential to be aware of this growing threat. To watch next: expect increased scrutiny on construction companies and contractors to ensure they're not inadvertently facilitating these scams, and look for new technologies and strategies to help prevent AI voice cloning and other types of scams targeting seniors.
Originally reported by housingwire.com. ConstructionNews adds analysis for real estate & property readers.