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Complete Story
06/24/2024
AI-Powered Vacation Scams Show Up Right on Time
PYMNTS
As travelers pack their bags for long-awaited summer trips, a new breed of scammer is tagging along — powered by artificial intelligence (AI). From fake rental listings to phantom flight deals, AI-assisted travel fraud is surging, leaving vacationers out of pocket and out of luck. Industry watchdogs and cybersecurity experts warn that traditional safeguards are struggling to keep pace, but they’re also exploring how the same technology might be harnessed to outsmart the swindlers.
The rise of AI-powered scams has made vigilance more crucial than ever for would-be vacationers. “Scammers utilize AI to mimic or impersonate popular travel websites by recreating familiar branding, logos, or company verbiage,” Darius Kingsley, managing director and head of consumer banking practices at Chase Bank, told PYMNTS.
The rise of AI-powered scams in the travel industry has significant implications for eCommerce and online transactions in general. Businesses in the digital marketplace must now invest heavily in advanced cybersecurity measures and customer education to protect their platforms and users from increasingly sophisticated AI-driven fraud attempts.
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