Artificial intelligence (AI) is making everyday tasks easier, but cybercriminals are also using the technology to develop new ways to cheat people. Fraudsters can now imitate the voice or appearance of a person’s family members and friends to trick them into transferring money.
These scammers often create a sense of urgency by pretending that a loved one is in trouble and needs immediate financial help. They may also send fake bank messages or emails to convince people to share sensitive information.
Amid these growing threats, Punjab National Bank (PNB) has urged customers to remain alert against AI-based cyber fraud and verify suspicious calls and messages before taking action.
How Does AI Voice Cloning Fraud Work?
AI voice cloning technology can imitate a person’s voice using audio recordings. Cybercriminals may use this technology to make calls pretending to be a family member, friend or acquaintance and demand money by claiming to be facing an emergency.
Since the voice may sound familiar, victims can easily be misled into transferring money without verifying the caller’s identity.
However, not every suspicious call involves AI. Customers should avoid trusting a caller’s identity based on voice recognition alone.
PNB Advises Customers to Stay Alert
PNB Managing Director and CEO Ashok Chandra said cybercriminals often exploit people’s trust, fear and urgency to commit fraud. Scammers may impersonate known individuals through their voices or appearances and send fake emails and SMS messages that look genuine.
The bank stressed that preventing cyber fraud is a shared responsibility. Customers should remain cautious and verify suspicious calls, messages and financial requests before responding.
4 Important Steps to Avoid AI-Based Fraud
- Verify before transferring money
If someone claiming to be a family member or friend calls and urgently asks for money, do not transfer it immediately. Disconnect the call and contact the person on their saved phone number. You can also confirm the situation with another family member.
- Create a secret family code
Family members can agree on a secret word or code to verify their identities during emergencies. Keep the code confidential and never share it with outsiders.
- Never share OTPs, PINs or passwords
Never disclose your banking OTP, UPI PIN, debit or credit card PIN, or password to anyone over the phone. Even if someone claims to be a bank official, do not share these details. Avoid installing screen-sharing applications or granting remote access to your phone at the request of unknown callers.
- Use strong and different passwords
Avoid using the same password for internet banking, email and social media accounts. Use strong, unique passwords for each account to reduce the risk of multiple accounts being compromised if one password is exposed.
Customers should remember: A familiar voice is not proof of identity. Always verify urgent requests for money independently before making a payment.