As the holiday shopping season approaches, one expert says there are some scam trends emerging that consumers need to watch out for.
Larry Zelvin, the head of the financial crimes unit at BMO Financial Group, said new technologies like artificial intelligence are making fraud harder to detect.
“The risks are ever-present every day all year long, but when it comes to this time of the year, ’tis the season to steal even more. Retailers are making more money this time of year than any other, so the fraudsters are all over it as well,” Zelvin said.
The list of newer scam methods includes AI-powered fraud, where scammers create a fake retailer website, along with phishing emails or deepfake videos to impersonate brands or influencers….