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How AI Is Supercharging Financial Fraud–And Making It Harder To Spot - Forbes   

wanted to inform you that Chase owes you a refund of $2,000. To expedite the process and ensure you receive your refund as soon as possible, please follow the instructions below: 1. Call Chase Customer Service at 1-800-953-XXXX to inquire about the status of your refund. Be sure to have your account details and any relevant information ready …"

If you banked at Chase and received this note in an email or text, you might think it's legit. It sounds professional, with no peculiar phrasing, grammatical errors or odd salutations characteristic of the phishing attempts that bombard us all these days. That's not surprising, since the language was generated by ChatGPT, the AI chatbot released by tech powerhouse OpenAI late last year. As a prompt, we simply typed into ChatGPT, "Email John Doe, Chase owes him $2,000 refund. Call 1-800-953-XXXX to get refund." (We had to put in a full number to get ChatGPT to cooperate, but we obviously wouldn't publish it here.)

"Scammers now have flawless grammar, just like any other native speaker," says Soups Ranjan, the cofounder and CEO of Sardine, a San Francisco fraud-prevention startup. Banking customers are getting swindled more often because "the text messages they're receiving are nearly perfect," confirms a fraud executive at a U.S. digital bank-after requesting anonymity. (To avoid becoming a victim yourself, see the five tips at the bottom of this article.)

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