FTC Warns: Scammers Are Using Voice Clones to Steal Your Money

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What HappenedThe FTC has issued a consumer alert about a new trick phone scammers are using to steal money. Scammers are now using advanced AI (artificial intelligence) to clone the voices of people you know. They then call, using the cloned voice, claiming to be a loved one who needs money.As the FTC notice describes it, “A scammer could use AI to clone the voice of your loved one. All he needs is a short audio clip of your family member’s voice — which he could get from content posted online — and a voice-cloning program. When the scammer calls you, he’ll sound just like your loved one.”So WhatPhone scammers have been using the “your loved one is in trouble” scam for years. But this new version is much more sinister, since it uses your loved one’s actual voice. This can make it extremely difficult to tell you’re being fooled.These thieves are also good at choosing methods of payment that are very hard to reverse, such as gift cards, cryptocurrency, and money wires. If you get caught in one of these scams, there’s very little chance you can get your money returned.Now WhatThe best way to keep your finances safe from scammers is to think, instead of just reacting. As the FTC says, “Don’t trust the voice.”If you get a call like this, verify everything before you act. Hang up, then call your loved one directly using a phone number you are certain belongs to them. If you can’t get through, try other methods, such as reaching out to family members or friends.For those occasions when your loved one really does need money, stick to more mainstream methods. A paper check in the mail is considered to be fairly safe, though it can take a few days so it’s best for non-emergency situations.When they need money quicker, you can use Zelle to transfer money directly to their bank account. (Zelle transfers aren’t usually reversible, so make extra sure the number belongs to your loved one before using Zelle.)If you do fall for one of these scams, report it to the FTC right away. While you may not get your money back, you could help prevent the thieves from scamming someone else.Alert: highest cash back card we’ve seen now has 0% intro APR until 2024If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee. In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes. Read our free reviewWe’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy. 

What Happened

The FTC has issued a consumer alert about a new trick phone scammers are using to steal money. Scammers are now using advanced AI (artificial intelligence) to clone the voices of people you know. They then call, using the cloned voice, claiming to be a loved one who needs money.

As the FTC notice describes it, “A scammer could use AI to clone the voice of your loved one. All he needs is a short audio clip of your family member’s voice — which he could get from content posted online — and a voice-cloning program. When the scammer calls you, he’ll sound just like your loved one.”

So What

Phone scammers have been using the “your loved one is in trouble” scam for years. But this new version is much more sinister, since it uses your loved one’s actual voice. This can make it extremely difficult to tell you’re being fooled.

These thieves are also good at choosing methods of payment that are very hard to reverse, such as gift cards, cryptocurrency, and money wires. If you get caught in one of these scams, there’s very little chance you can get your money returned.

Now What

The best way to keep your finances safe from scammers is to think, instead of just reacting. As the FTC says, “Don’t trust the voice.”

If you get a call like this, verify everything before you act. Hang up, then call your loved one directly using a phone number you are certain belongs to them. If you can’t get through, try other methods, such as reaching out to family members or friends.

For those occasions when your loved one really does need money, stick to more mainstream methods. A paper check in the mail is considered to be fairly safe, though it can take a few days so it’s best for non-emergency situations.

When they need money quicker, you can use Zelle to transfer money directly to their bank account. (Zelle transfers aren’t usually reversible, so make extra sure the number belongs to your loved one before using Zelle.)

If you do fall for one of these scams, report it to the FTC right away. While you may not get your money back, you could help prevent the thieves from scamming someone else.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2024

If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes.

Read our free review

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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