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With the rise of artificial intelligence, scammers now have the ability to create realistic deep fakes, making it easier to impersonate loved ones or trusted figures in order to manipulate you into sending money or sharing sensitive information.
In this rapidly evolving landscape, ‘the people you know’ at Texas Regional Bank are stressing the importance of relying on human relationships and instinct to recognize and avoid potential fraud. By maintaining personal relationships with your bank and clients, and staying informed, you can better protect yourself from the growing threat of AI-driven scams and other fraudulent schemes.
Imagine you are travelling out of town, and your grandparents are sitting at home, when their phone rings and they happily begin speaking with you—their favorite grandchild—over a video call. They see your familiar face and hear your familiar voice tell them that you’re in trouble and you need some money wired quickly so you can get home. You tell them exactly where to wire the money, and they follow your instructions diligently so they can help you. Except it’s not you. It wasn’t ever you, and now your grandparents have become the unwitting victim of fraud.
Cesar Suarez
You should always be able to pick up the phone and call your bank, or walk in the door, and easily access the support and education you need to keep your hard-earned money safe.
Nothing will take the place of reasonable common sense, but continued learning and education are necessary to remain prepared for the constantly evolving and increasingly sophisticated fraud threats we face.
That gut instinct will continue to be important, Freudenberg emphasized. Deep fakes frequently fall into just a few general categories:
The scams will continue to become more advanced, and so will the complexity of their social engineering methods. Double-checking, calling back, or calling your community banker will need to be standard practice. “We empower our clients with information and then back them with our experience, so they have support and answers when they have questions or suspicion about a circumstance,” Freudenberg said.
TRB’s Chief Banking Officer Cesar Suarez added “Having a relationship with a banking partner you can trust can not only help you if you fall prey to a scam, but also can help you prevent it by providing education, tools, and resources that help you identify a potential scam as it comes your way.”
One advantage to the community bank model is clear: “Community banks are set up to respond to fraud quickly – and, when something happens, speed is really important,” Suarez said. “Those personal relationships at your bank in your community can prove crucial when special attention is needed.” Minutes can matter when your money is on the line, and ‘the people you know’ at TRB recommend establishing a relationship with your community bank to take advantage of that personal connection.
The potential for sophisticated scams, including deep fakes, is becoming an ever-present threat. However, the solution to combating these schemes lies not only in technology but in human instincts and relationships. ‘The people you know’ at TRB emphasize the importance of trusting your gut, verifying suspicious requests, and maintaining strong personal connections with your community bank. By combining common sense with human communications, individuals can protect themselves against AI-driven fraud while also benefiting from the personalized support that only community banks like TRB can provide. In an increasingly complex digital world, vigilance, trust, and personal banking relationships remain key to safeguarding hard-earned assets.
