With the 2024 Presidential Election just about a month away, it’s not just political ads and debates that will capture your attention — scammers are also gearing up to deceive voters and steal sensitive financial information. Advances in artificial intelligence (AI) and deepfake technology are making it easier than ever for fraudsters to manipulate voters through fake videos, robocalls, and phishing schemes. With AI improving daily and scammers taking full advantage, it’s crucial to stay vigilant to protect yourself this election season and beyond. At First Financial, we’re here to help you navigate these risks and safeguard your finances.

What Are Deepfakes, and Why Are They Dangerous?

Deepfakes are AI-generated videos or audio recordings that convincingly mimic real people, often for malicious purposes. While these deepfakes are used in political campaigns to spread misinformation or manipulate public opinion, scammers are also using this technology to create fake donation requests or impersonate political figures. These realistic videos and calls can trick even the most discerning individuals into giving away their hard-earned money or sensitive information.

Common Election Scams You Might Encounter

• Donation Requests: Scammers can pose as campaign representatives asking for donations via phone, email, or on social media. While these requests may seem legitimate, they are designed to steal money from unsuspecting voters who don’t verify the source.
• Voter Registration Services: Scammers can pretend to be voter registration services, offering to update your voter information via phone, text, or email. They may convince you there is a fee associated with the updates and/or steal your personal information for identity theft or financial fraud.
• Election Surveys: You might be asked to participate in a political survey, with scammers offering a reward in exchange for personal information such as your Social Security Number or bank details.

How to Spot and Protect Yourself from Scams

Election-related scams can be hard to identify, but knowing the common warning signs can help protect your finances. Here’s how to spot a scam and avoid falling victim to it:

1. Pressure to Act Quickly: Scammers often create a sense of urgency, insisting that you need to donate or update your information immediately. Be wary of any unsolicited request for immediate action, whether it’s to donate to a political campaign or fix a voter registration issue.

2. Unverified or Unfamiliar Sources: If you receive a donation request or voter registration update from an unfamiliar number, email, or website – take a step back. Always verify the source before engaging, and go directly to the campaign or government official’s website to check the legitimacy of the request.

3. Too Good to Be True Offers: If a survey or donation request promises you something that sounds too good to be true, like a large reward or an incredible opportunity – it probably is. Scammers often entice their targets with rewards in order to collect personal or financial information.

4. Suspicious Payment Methods: Be cautious of requests for unusual payment methods such as wire transfers, cryptocurrency, or gift cards. Legitimate campaigns will not ask for donations through these methods, as they are often a hallmark of scam activity.

5. Mismatched or Inconsistent Details: Look for small inconsistencies in emails or messages. Scammers may attempt to use AI-generated content, but these often include tell-tale signs such as unnatural movements, mismatched audio, or incorrect details about the candidate or campaign.

6. Double-Check Campaign Requests: If you feel connected to a political candidate or cause and wish to contribute, always verify donation requests by going directly to official campaign websites. Avoid donating through informal platforms or requests that you didn’t initiate.

Stay Vigilant & Protect Your Finances This Election Season

By staying informed and cautious, you can protect yourself from financial fraud and ensure that your personal information stays secure. At First Financial, we’re dedicated to helping you navigate this election season safely. For more financial tips and personalized advice, reach out to us at 732.312.1500 or visit a branch. Be sure to subscribe to the First Scoop blog for ongoing insights into staying financially secure year-round.