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What Should I Know About Artificial Intelligence Scams and My Credit Report?

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As artificial intelligence (AI) technology has taken off over the past few years, it’s getting more and more challenging to understand what’s legitimate and what’s AI. Unfortunately, this means you may find your credit score significantly impacted by those with negative intentions. The following blog explores some of the most common scams you must be aware of, how they can affect your credit score, and why you need an Arroyo Grande consumer lawyer to help you regain control of your credit report. Keep reading to learn more.

How Can Artificial Intelligence Scams Impact My Credit Score?

Unfortunately, there are a number of scams circulating that can severely impact someone’s credit score.

One tactic that’s on the rise is using AI voice technology to fake emergencies. For example, you may receive a call from someone using technology pretending to be your child, sibling, or parent asking for money. Unfortunately, because these calls sound so real, as scammers can find voice clips online, many fall victim to these attempts for money or access to financial accounts. By sending money or account numbers, scammers can steal from you and open accounts in your name, tanking your credit in the process.

Another scam that has been around for decades is phishing messages. Scammers will replicate the communications of financial institutes and services to attempt to gain your credit card or login information. For example, you may get an email from your bank telling you there’s an issue with your account and asking you to log in, providing you with a link. However, this link is not legitimate but rather an attempt to steal your information. In decades past, formatting and grammatical errors could help illustrate the illegitimacy of these emails, but artificial intelligence technology can help make these look more realistic, making it more challenging for unsuspecting consumers to differentiate whether or not they are real. By providing your login information, hackers can access your financial information and use it to steal your identity.

What Should I Do if I’m the Victim of an AI Scam?

If you are the victim of a scam, it’s necessary to understand that you should proceed carefully. You should begin by contacting your bank and credit card companies, informing them of the scam, and placing freezes on your account. This prevents the hacker from taking more money from your accounts. Additionally, you should contact the three major credit reporting bureaus to report the incident and place a fraud alert on your account. This ensures creditors must verify your identity before opening accounts in your name. Finally, you’ll want to dispute any fraudulent charges on your credit report to have them removed.

This process can be incredibly frustrating, especially if you are the victim of scams from AI technology. As such, the team at Loker Law can help you navigate these complex times. We understand how important your credit score is, so we’re ready to assist you during these challenging legal issues. Contact our firm today to learn more.

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