How Scammers Are Using AI to Target Small Businesses

Artificial Intelligence (AI) is making waves in the business world, helping small businesses improve operations, customer service, and marketing.

But it’s also giving scammers more sophisticated tools to target unsuspecting companies. As a small business owner, it’s important to know how scammers are using AI to trick businesses and what you can do to stay protected.

Deepfakes and Fake Phone Calls

One of the most concerning AI-driven scams involves deepfakes—realistic videos or audio that can impersonate someone you trust. Imagine getting a phone call or video message that looks and sounds like your boss, asking you to make a large payment to a “new supplier.” This is no longer a far-fetched scenario. Scammers can use AI to clone someone’s voice or likeness and trick you into transferring money or sensitive data.

For small businesses, this can be especially dangerous. Scammers may impersonate vendors, clients, or even senior staff members to push through fraudulent transactions.

AI-Powered Phishing Emails

Phishing emails have been around for a while, but AI has made them more convincing than ever. AI can pull information from your business’s social media, websites, or public directories, and use that to craft emails that look incredibly real. They can mention specific projects, clients, or people within your business, making it easy for an unsuspecting employee to fall for the scam.

Small businesses with fewer resources for IT security are often prime targets. All it takes is one convincing email to get access to your financial accounts or customer data.

Chatbots and Automated Scams

Scammers are also using AI chatbots to target businesses. These bots can initiate conversations through social media, customer service portals, or even websites. They pose as legitimate customers or partners, luring you into sharing valuable information or making fraudulent payments. Since chatbots can run 24/7, they can engage multiple targets at once, increasing the chances of someone falling for their tricks.

How to Protect Your Small Business

While AI-powered scams are becoming more sophisticated, there are simple steps you can take to protect your business:

• Verify before taking action: Whether it’s a payment request or a new business inquiry, always verify the identity of the sender. Pick up the phone and call the person using a trusted number or email them at their known address.
• Train your staff: Make sure your employees are aware of common scams, especially phishing emails and fake phone calls. A well-informed team is your first line of defense.
• Use multi-factor authentication (MFA): Adding an extra layer of security to your accounts can prevent scammers from gaining access even if they’ve stolen a password.
• Invest in cybersecurity: While small businesses may not have the budget for a full IT team, investing in basic cybersecurity measures, like email filters and secure payment systems, can go a long way in protecting your company.

AI is a powerful tool that can help small businesses grow, but it also creates new opportunities for scammers. By staying informed and taking preventive measures, you can safeguard your business from these high-tech threats.