AI scams target seniors’ savings
The Phantom Hacker scheme uses multiple fake identities and AI to exploit elderly victims’ online activity and social media posts.
Cybersecurity experts have warned that AI is being used to target senior citizens in sophisticated financial scams. The Phantom Hacker scam impersonates tech support, bank, and government workers to steal seniors’ life savings.
The first stage involves a fake tech support worker accessing the victim’s computer to check accounts under the pretence of spotting fraud. A fraud department impersonator then tells victims to transfer funds to a ‘safe’ account allegedly at risk from foreign hackers.
A fake government worker then directs the victim to transfer money to an alias account controlled by the scammers. Check Point CIO Pete Nicoletti says AI helps scammers identify targets by analysing social media and online activity.
Experts stress that reporting the theft immediately is crucial. Delays significantly reduce the chance of recovering stolen funds, leaving many victims permanently defrauded.
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