Emer Walsh: Fraud is already on the rise, and AI is set to turn it into a perfect storm 

Irish people lose €300m a year in phone or text scams and now artificial intelligence could give fraudsters an extra edge

Fraudsters work hard at composing a plausible ‘script’ that the unwitting victim will believe. Now, experts are warning that phone and text scams are becoming even more sophisticated with generative AI such as ChatGPT. Picture: iStock

The scam begins with a call from someone purporting to be from your bank. The caller asks you to log into your account.

They then ask you to access another web address that offers a “live chat service” or “to verify your PC”.