New Hampshire Attorney General John M. Formella is sounding the alarm on the growing threat of artificial intelligence (AI) being weaponized in financial scams across the state.
In the latest issue of the NH Consumer Insight newsletter, titled “Smart Tech, Real Threats: The Benefits and Risks of Artificial Intelligence to Financial Safety,” Formella’s office highlights how scammers are now using advanced AI tools to create more convincing and dangerous fraud schemes — and how residents can protect themselves.
“Artificial intelligence is here to stay — and while it can be used to safeguard our financial systems, scammers are also using it to create more convincing frauds than ever before,” Formella said. He urged residents, particularly older adults, to read and share the new guidance.
The newsletter outlines several tactics criminals are now deploying:
- Deepfake scams involving AI-generated images, voices, and videos that impersonate loved ones or authority figures — sometimes in staged emergencies to demand urgent payments.
- Fake online profiles built with AI for social media or dating platforms to emotionally manipulate victims.
- Smarter phishing messages crafted using AI that mimic legitimate communications with polished grammar and personal touches.
While AI poses clear risks, the newsletter also acknowledges its benefits. Financial institutions increasingly use AI to detect fraud, send alerts about suspicious activity, and verify identities through voice recognition.
To protect themselves, residents are encouraged to take simple precautions: activate fraud alerts, use two-factor authentication, and pause before acting on any urgent financial request — even from someone who seems familiar.
The Department of Justice urges victims or concerned residents to report scams to local law enforcement or the state’s Consumer Protection and Antitrust Bureau. Reports can also be filed online.
Need Help?
If you have questions or concerns about any global guidelines, regulations and laws, don’t hesitate to reach out to BABL AI. Their Audit Experts can offer valuable insight, and ensure you’re informed and compliant.
