Online safety tips | blog.firstffcu.com

At First Financial, your safety has always been our utmost priority. We believe in not just safeguarding your financial assets, but also in ensuring you are informed and protected against the evolving threats in our digital age. One such alarming development that we wish to bring to your attention is the rise in AI (artificial intelligence) voice cloning scams.

Understanding AI Voice Cloning Scams

In a typical scenario, scammers will utilize artificial intelligence and voice cloning technology to create a near perfect imitation of a person’s voice. Armed with this technology, fraudsters can impersonate loved ones – demanding emergency funds or posing as genuine businesses and government agencies to deceive people into sharing their personal and financial information.

How It Works

To clone a voice, scammers only really need a short audio clip of the intended person. Surprisingly, these clips can easily be sourced from public platforms like social media. This evolution of scams has been observed by significant entities such as the Federal Trade Commission, which has raised alerts about this alarming trend.

To put things in perspective, 2022 witnessed a significant surge in phishing attacks attributed to the availability of AI. This new age scam is an offshoot of the well-known “grandparent scam,” which institutions like AARP have warned their members about.

Spotting the Scam

Although the technology behind these scams is advanced, there are some common indicators:

Requests for urgent payment – especially via wire transfers, cryptocurrency, social media, or gift cards.
AI generated texts that have repetitive words, short sentences, lack idioms or contractions, or make implausible statements.
Suspicious communication from “genuine” organizations or from someone you know. Always independently verify the source by calling them on your own using the publicly listed business phone number or the phone number saved in your contacts, before taking action.

A Real Life Experience

Jennifer DeStefano shared her harrowing encounter with News 12 New Jersey to raise public awareness. She received a call demanding a $1 million ransom, with the caller threatening that they had kidnapped her daughter. The chilling part? The voice of her sobbing daughter in the background sounded undeniably real. The relief came when she discovered her daughter was safe with her husband. The traumatic voice she’d heard was an AI generated clone.

How to Protect Yourself

Skepticism is Key: Be wary of any unusual payment requests via gift cards, wires, or cryptocurrency. If it sounds too strange, it likely is.
Analyze the Language: Pay attention to any odd phrasing, repetitive words, or short, robotic sentences in text communication.
Keep Plans Private: Be mindful of the personal details and plans you share on social media, as well as if your profile is public or if you have any public videos online with your or a loved one’s voice recorded.
Don’t Trust Caller ID Blindly: Scammers have the means to mask their numbers, as well as make them look like a legitimate organization’s phone number.
Report Suspicious Activity: Always report any potential scam to local authorities and the FTC.

At First Financial, we pledge to continue our relentless pursuit of safeguarding your well-being in all facets of your financial journey. Let’s work together to protect our community, financial assets, and personal information from falling into the wrong hands.

If you ever have any concerns or questions about any of your First Financial accounts, please call member services at 732.312.1500 or visit one of our branches. Check out our First Scoop blog to stay up to date on the latest scams.

As your trusted financial institution, safeguarding our members’ sensitive information is at the core of our mission. Ensuring the safety of your online accounts starts with strong and unique passwords. By educating our members about the significance of strong and unique passwords, we aim to fortify their defense against potential breaches of their personal information. Let’s explore the best practices for online passwords and how to protect yourself from cyber threats.

The Importance of Strong and Unique Passwords:

The first line of defense against cybercriminals is a robust password. Using the same password for multiple accounts increases the risk of compromise if that password is breached. Cybercriminals often use automated tools to use breached passwords on various accounts, a tactic known as “credential stuffing.” If you’re not following best practices, especially if you’re reusing your passwords for financial accounts – you’re putting yourself in harm’s way. To prevent this, always create strong and unique passwords for each online account.

Tips for Creating Strong Passwords:

Length and Complexity: Aim for passwords with at least 12-16 characters, combining uppercase letters, lowercase letters, numbers, and symbols. Longer passwords are more secure and harder to crack.
Phrases and Random Word Combinations: Consider using a memorable phrase or a combination of unrelated words to increase password strength. Avoid using common phrases or easily guessable information.
Avoid Personal Details: Stay away from using names, birthdays, or other easily obtainable personal information in your passwords. Hackers can easily guess such details from your online presence.
Regular Password Changes: Change your critical passwords, especially for financial and important accounts – regularly. This practice ensures that even if a breach occurs, the compromised password will become outdated.

The Role of Password Managers:

Remembering numerous complex passwords can be challenging. That’s where password managers come to the rescue. A password manager is an online tool that generates and stores strong passwords securely for each of your accounts. By using a password manager, you can focus on creating long and unique passwords without the need to memorize them all.

Embracing Multifactor Authentication:

Multifactor Authentication (MFA), or two-factor authentication, is a game-changer in enhancing account security. MFA adds an extra layer of protection by requiring a secondary form of verification, such as a one-time code sent to your phone, in addition to your password. Even if someone manages to obtain your password, they would still need the second factor to access your account.

Social Media and Your Information:

While social media platforms are an integral part of our lives, sharing too much personal information can be risky. Cybercriminals can gather information from your posts to craft targeted attacks. Limit the information shared with strangers, adjust privacy settings, and avoid oversharing to maintain your privacy and security.

Protecting your online accounts begins with responsible password practices. By following these guidelines, you can significantly reduce the risk of falling victim to cyber threats and ensure the safety of your online presence. Stay vigilant and keep your passwords strong and secure! For more safety and finance tips, subscribe to our blog.