Is Your Family Prepared for the AI-Fueled “Grandparent Scam”? (It’s one of the fastest growing areas of fraud in the US!)

Artificial intelligence is creating incredible new opportunities — but it’s also creating massive new risks.

One of the fastest-growing threats is AI-powered impersonation scams, where criminals use voice-cloning technology to mimic the voice of someone you love. With just a few seconds of audio pulled from social media, a voicemail, or a video, scammers can create a convincing copy of a family member’s voice and call claiming to be in trouble. Often the scenario sounds urgent—a car accident, an arrest, or a medical emergency—and the caller begs for immediate financial help. These schemes, sometimes called the “grandparent scam,” are designed to trigger panic and push people into acting before verifying the story.

What’s the real impact of this trend?

A recent study suggests that 25% of adults have already been exposed to AI-powered voice scams, and that these scams have grown by 1,300% in the past few years! In 2024 alone, it’s estimated that these types of fraud contributed to nearly $4.9 billion in losses across the U.S. Even more concerning, the group most heavily targeted—and often most affected—is adults aged 60 and older.

How can I protect my parents and family from this fraud?

One simple but powerful defense is creating a family “safe word.” This is a private word or phrase that only trusted family members know and can use to confirm their identity in an emergency. If someone calls claiming to be a loved one and asks for money or sensitive information, you simply ask for the safe word. If they can’t provide it, that’s your signal something isn’t right. One of our Advisors, the CEO of a leading cybersecurity consulting firm, shared this with me as he’d done this with his family. He told me this low-tech solution can stop many AI-driven impersonation scams immediately because the scammer won’t know the private phrase your family agreed on.

How Prisidio can help protect your family with a family “safe word”?

At Prisidio, we encourage families to talk about this risk before it ever happens. Choose a safe word that’s easy for your family to remember but impossible for strangers to guess—ideally something tied to a shared memory or inside joke. And most importantly, make sure everyone in your family knows it, from grandparents to grandchildren. In a world where technology can imitate a voice, a simple family word can provide the peace of mind that the person on the other end of the line is truly someone you trust.

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