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Writer's pictureJ. Gustaf Rounick

Safeguarding from Generative AI

We all know about phishing attempts, viruses, and fake calls. However, the rapid growth of generative AI presents new and unique risks, especially when it comes to fraud. The following can be some steps for families to protect themselves from potential fraud in this rapidly evolving digital landscape.


Understanding Generative AI


First, it's essential to understand what generative AI is. From creating realistic images and writing text to producing music and simulating voices, generative AI's capabilities are broad and growing. This technology has the potential to be misused by fraudsters to impersonate others, create convincing fake messages or documents, and even manufacture false video footage.


Recognize the Risks


The first step in protecting your family from AI-enhanced fraud is understanding the risks. These may include identity theft, financial fraud, and even deepfake-enabled blackmail or scamming. Deepfakes are realistic multimedia content (audio, video, or images) generated using AI, which could be used to impersonate a trusted individual or entity.


Safeguarding Your Information


With the advent of generative AI, safeguarding personal and financial information becomes more important than ever. Here are some measures to consider:


Be wary of unsolicited communications: If you receive an unexpected message, call, or email requesting personal information, be cautious. If it's purportedly from a trusted entity, independently find their contact information and confirm the communication's legitimacy.


Protect your data: Regularly update your devices and use strong, unique passwords. Consider using a reputable password manager to help manage this. Enable multi-factor authentication wherever possible to add an extra layer of security.


Regularly monitor financial accounts: Check your bank and credit card statements regularly for any unusual activity. Promptly report anything suspicious to your financial institution.


Educate Your Family


Education plays a significant role in safeguarding against AI-enabled fraud. Ensure all family members, particularly those less familiar with technology, understand the potential risks. Discuss the basics of internet safety, the importance of not sharing personal information online, and how to recognize potential scams.


At Rounick Capital Management LLC, we take these threats seriously and will do whatever we can to keep your information safe. We have strict procedures in place an only work with companies that do the same.

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