As the holiday shopping season approaches, McAfee’s 2024 Global Holiday Shopping Scams Study sheds light on a concerning trend: AI-powered scams and deepfakes are becoming increasingly prevalent, targeting younger demographics with deceptive tactics. The rise of AI-generated synthetic media, also known as deepfakes, poses significant risks as these technological advancements make fraudulent notifications and fake endorsements alarmingly realistic.
The study reveals that these sophisticated scams are reshaping how consumers, particularly younger ones, approach online shopping. A staggering 70% of American shoppers acknowledge that AI-driven scams have altered their shopping behaviors. This is particularly evident among Gen Z and Millennials, who are more susceptible to such AI scams due to their heavy use of social media platforms to purchase goods. Here are five key findings from the report and how to avoid AI-driven schemes during the holiday season.
RB Insights
- Increased Awareness: According to McAfee, 78% of Americans believe cybercriminal activity intensifies during the holidays.
- AI Impact: 88% of respondents acknowledge that AI has escalated the frequency and sophistication of scams.
- Vulnerable Demographics: Younger shoppers, particularly Gen Z and Millennials, are more susceptible to AI-generated scams due to their higher engagement with technology and social media platforms.
1. Surge In Online Scams
The study surveyed over 7,000 adults across seven countries, revealing that a third of Americans have fallen victim to online scams during the holiday season. Nearly 60% reported losing money, with 10% losing over $1,000. The rise of AI tools has enabled scammers to create realistic fake messages, making it increasingly difficult for consumers to distinguish between legitimate and fraudulent communications.
2. Consumer Anxiety
Three-fifths of respondents expressed heightened anxiety about holiday scams this year, particularly due to the rise of AI-generated deepfakes. One in five consumers reported falling victim to scams involving AI-generated celebrity endorsements, a trend that is especially prevalent among younger shoppers.
3. The Role Of Technology
The report highlights that 78% of Americans believe cybercriminals ramp up their activity during the holidays. Furthermore, 88% recognize that AI is influencing the number and sophistication of online scams. As a result, 45% of shoppers feel that scam emails and messages will be more believable than ever, while 41% think it will be harder to differentiate between real and fraudulent communications.
4. Types Of Scams Encountered
The study identified several common types of scams that consumers are facing:
- Email Scams: 64% of Americans receive scam messages primarily via email.
- Text Scams: 20% report receiving scam messages through text.
- Social Media Scams: 16% encounter scams on social media platforms.
Common scam messages include:
- Fake delivery notifications (59%)
- “You’ve won a prize” messages (66%)
- Alerts about unauthorized purchases (44%)
5. Recommendations For Safe Shopping
To protect themselves during the holiday season, McAfee recommends the following:
- Verify Messages: Always check the authenticity of emails and texts before clicking on links.
- Use AI Tools: Leverage AI-driven solutions like McAfee’s Text Scam Detector to identify suspicious links.
- Be Aware Of Deepfakes: Look for inconsistencies in videos and audio that may indicate deepfake content.
- Invest In Protection: Consider comprehensive online protection solutions to safeguard personal information and online transactions.
As the holiday shopping season kicks off, consumers must remain vigilant against the rising tide of AI-powered scams. Staying informed and utilizing available tools, shoppers can protect themselves and enjoy a safer holiday shopping experience.
