The Better Business Bureau (BBB) says scammers are using two new powerful tools to try and steal the identities of victims.
The organization said Wednesday it conducted a study that points to a disturbing rise in the prevalence of artificial intelligence (AI) and the dark web in committing identity theft.
The BBB said the data helped it establish resources to help protect consumers from falling victim to identity theft.
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Mary O’Sullivan-Andersen, president and CEO of the BBB serving Southern Alberta and East Kootenay, said the group’s research found scammers are getting more sophisticated in their attacks.
“Criminals offer stolen information such as account numbers, social insurance numbers and other personal details to the highest bidder on the dark web just like any other commodity,” she said in a release.
“This underscores how vital it is for all of us to protect our personal information.”
The BBB says AI tools are also being used in conjunction with the dark web to scour over hundreds of thousands of pieces of information to pick out email addresses, leaked credentials and biometric data.
AI can help find “high value” information, which can then be used to target certain individuals for identity theft.
The BBB says other studies have shown these AI-powered scams resulted in more than $12 billion in losses in 2023.
O’Sullivan-Andersen says organized crime groups use these techniques to commit identity theft.
“This stolen information is then used in the commission of a wide array of scams including credit card fraud, mortgage fraud, personal loan fraud and more,” she said.
Advice on how to protect yourself from identity fraud is available on the BBB’s website.
