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☆ 'Deepfake' scam in China fans worries over AI-driven fraud
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 22 (Reuters) - A fraud in northern China that used sophisticated "deepfake" technology to convince a man to transfer money to a supposed friend has sparked concern about the potential of artificial intelligence (AI) techniques to aid financial crimes. China has been tightening scrutiny of such technology and apps amid a rise in AI-driven fraud, mainly involving the manipulation of voice and facial data, and adopted new rules in January to legally protect victims. "This shows that photos, voices and videos all can be utilised by scammers," one user wrote. "Can information security rules keep up with these people's techniques?" ($1=6.9121 Chinese yuan renminbi)Reporting by Ella Cao and Eduardo Baptista; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

May 12 (Reuters) - Elon Musk has named former NBCUniversal advertising chief Linda Yaccarino as Twitter's new CEO, as the company tries to reverse a plunge in ad revenue. "I am excited to welcome Linda Yaccarino as the new CEO of Twitter!" Last month, NBC parent Comcast said NBCUniversal CEO Jeff Shell was leaving after acknowledging an inappropriate relationship with a woman in the company, following a complaint that prompted an investigation. Musk, the CEO of electric-vehicle maker Tesla Inc (TSLA.O), completed his purchase of Twitter in October for $44 billion. On Thursday, Musk tweeted that he had found a CEO without identifying Yaccarino.

☆ Let the guessing game begin! Elon Musk's cryptic Twitter CEO tweet drives speculation — and plenty of joke theories
▼ + stars: | 2023-05-12 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Elon Musk offered few clues about Twitter's next CEO, besides that "she" will take over in weeks. The cryptic post drove plenty of people on Musk's platform to suggest possible contenders. One serious guess came from tech journalist Kara Swisher, who laid out her case and observations in a Twitter thread. An NBCUniversal spokesperson told Insider that Yaccarino was preparing for the Upfronts, an event where media companies pitch advertisers. Guesses included famous tech names, some quickly debunkedYou didn't have to look far on Twitter to see some famous tech names like Sheryl Sandberg, Marissa Mayer, or Susan Wojcicki being floated.

☆ Google will label fake images created with its A.I.
▼ + stars: | 2023-05-10 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Google will embed information called a markup inside images created by its AI models, in order to warn people that they were originally created by a computer, it said on Wednesday. "Image self-labeled as AI generated," reads one example warning provided by Google. One issue facing the AI industry is that there is no reliable way to determine generated images. Google's approach is to label the images when they come out of the AI system, instead of trying to determine whether they're real later on. Google held its annual developer's conference on Wednesday, where it announced a $1,799 folding phone, and additional AI features for other Google products, including an image generator.

☆ I left Miami for a remote village in Pakistan. I have no running hot water and limited electricity — but my quality of life here is infinitely better.
▼ + stars: | 2023-05-09 | by ( Samantha Shea | ) www.businessinsider.com time to read: +15 min

She moved to Hunza Valley in Northern Pakistan in 2021, where she's lived ever since. I live in Hunza Valley, 8,500 feet above sea level on the border with Western China, where I work as a digital nomad. A drone shot of Hunza Valley in early May. A Hunza Valley local drying apricots. Though my solo journey to Pakistan started as a trip, Hunza Valley is now my home.

☆ I paid a stranger on Facebook $1,545 for tickets to Taylor Swift's 'Eras Tour.' Here's how I avoided getting scammed.
▼ + stars: | 2023-05-09 | by ( Joni Sweet | ) www.businessinsider.com time to read: +9 min

But like many Swifties, I never got access to Ticketmaster's disastrous presale for the Eras Tour. I posted on a Taylor Swift ticket-selling Facebook groupI turned to Facebook after I didn't hear back from several sellers on Twitter. Joni SweetMy search for Taylor Swift tickets started on Twitter. I had come across @ErasTourResell, an account which connects hopeful concertgoers with people selling their Eras Tour tickets for face value. I searched for terms like "Taylor Swift resell" and "Eras Tour tickets" and joined a few groups that came up.

☆ A group of scammers cheated student-loan borrowers out of $12 million by misleading them about repayment programs and 'loan forgiveness that did not exist,' a federal watchdog says
▼ + stars: | 2023-05-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The FTC said two companies cheated student-loan borrowers out of $12 million. It accused the companies of lying about repayment programs and debt relief that did not exist. "As Americans struggle with massive student loan debt and uncertainty around the prospect of forgiveness, scammers are looking to cash in," Samuel Levine, Director of FTC's Bureau of Consumer Protection, said in a statement. "These lawsuits to shut down student loan debt relief schemes continue the agency's crackdown on junk fees, unwanted calls, and financial exploitation." Along with the FTC's latest action, the Consumer Financial Protection Bureau has also cracked down on fraudulent behavior targeting student-loan borrowers over the past months.

☆ Apple's co-founder says AI will make it easier for 'bad actors' to get away with more convincing scams
▼ + stars: | 2023-05-09 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Apple's co-founder Steve Wozniak warned AI could be used to get away with more convincing scams. This is because tools like ChatGPT can produce text that sounds as intelligent as a human, he said. Wozniak recently signed an open letter calling for a pause on the development of AI. Apple's co-founder warned that AI could make it easier for "bad actors" to get away with very convincing scams, the BBC reported Tuesday. He also said individuals should take responsibility for anything that is generated by AI and then posted in the public realm.

☆ FTC chair Lina Khan says she's on alert for abusive A.I. use
▼ + stars: | 2023-05-03 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

"Although these tools are novel, they are not exempt from existing rules, and the F.T.C. In the op-ed, Khan detailed several ways AI might be used to harm consumers or the market that she believes federal enforcers should be looking for. One possible effect enforcers should look out for, according to Khan, is the impact of only a few firms controlling the raw materials needed to deploy AI tools. Khan also warned that AI tools used to set prices "can facilitate collusive behavior that unfairly inflates prices — as well as forms of precisely targeted price discrimination." Khan also warned that generative AI "risks turbocharging fraud" by creating authentic-sounding messages.

☆ U.S. FTC to enforce law to curb risks of artificial intelligence -chief
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 3 (Reuters) - The Federal Trade Commission's chief said the agency was committed to using existing laws to rein in some of the dangers of artificial intelligence, such as enhancing the power of dominant firms and "turbocharging" fraud. One risk she noted was that firms that dominate cloud services and computing would become even more powerful as they help startups and other firms launch their own AI. AI tools could also be used to facilitate collusion to raise prices. Khan expressed concern that generative AI, which writes in conversational English, could be used to help scammers write more specific and effective phishing emails. Reporting by Diane Bartz Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

New York CNN —Hackers have seized on worldwide interest in the artificial intelligence-powered tool ChatGPT in an effort to break into people’s devices, Facebook owner Meta revealed in a security report Wednesday, equating the phenomenon to the surge in cryptocurrency scams. Meta’s security team said it found hackers software that claimed to offer ChatGPT-based tools via browser extensions and online app stores that contained malware designed to give hackers access to people’s devices, Meta said. “From a bad actor’s perspective, ChatGPT is the new crypto,” Guy Rosen, Meta’s chief information security officer, told reporters, meaning scammers have quickly moved to exploit interest in the technology. Some of the tools include working ChatGPT features but also contain malicious code to infect users’ devices. “With an ultimate goal to trick people into clicking on malicious links or downloading malicious software, the latest wave of malware campaigns have taken notice of generative AI tools becoming popular.”

☆ Opinion | Lina Khan: We Must Regulate A.I. Here’s How.
▼ + stars: | 2023-05-03 | by ( Lina M. Khan | ) www.nytimes.com time to read: +3 min

The trajectory of the Web 2.0 era was not inevitable — it was instead shaped by a broad range of policy choices. A handful of powerful businesses control the necessary raw materials that start-ups and other companies rely on to develop and deploy A.I. Enforcers have the dual responsibility of watching out for the dangers posed by new A.I. is well equipped with legal jurisdiction to handle the issues brought to the fore by the rapidly developing A.I. Alongside tools that create deep fake videos and voice clones, these technologies can be used to facilitate fraud and extortion on a massive scale.

☆ That simple 'hi' text from a stranger could be the start of a scam that ends up costing you millions
▼ + stars: | 2023-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +14 min

The scammer networks operate fake trading platforms that look "exactly the way they should look," Friedman told CNBC. "When I was looking at who had messaged, I was like, 'I don't know if this person is real,'" Kaimi told CNBC. When pressed, Kaimi told Mike about his financial difficulties, stemming from past credit-card debt. "I thought I was someone who knew when they were being scammed, was able to discern things," Kaimi told CNBC. But when Kaimi told Mike he was planning to withdraw his funds, the penny dropped.

☆ AI scam calls: This mom believes fake kidnappers cloned her daughter's voice
▼ + stars: | 2023-04-29 | by ( Faith Karimi | ) edition.cnn.com time to read: +12 min

But her older daughter, 15-year-old Brianna, was away training for a ski race and DeStefano feared it could be a medical emergency. “A scammer could use AI to clone the voice of your loved one,” the agency said in a statement. Law enforcement has not verified whether AI was used in her case, but DeStefano believes scammers cloned her daughter’s voice. It was the voice, matching with the crying.”Jennifer DeStefano, right, with her daughter, Brianna: "A mother knows her child," she said. She’s tried to figure out how the virtual kidnappers got her daughter’s voice, and has considered several scenarios.

☆ 10 Things in Tech: The end of coding as we know it, why the 4-day workweek works, and wild Kittyhawk designs
▼ + stars: | 2023-04-29 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

But all of you had something insightful to share (there was even the odd pet picture, too!) Now, this week I wanted to share some of our top stories from our Discourse team. Tech companies have rushed to embrace generative AI, recognizing its ability to turbocharge programming, Insider's Aki Ito writes. And for better or worse, this effectively marks the end of coding as we know it. A growing body of evidence suggests a shorter workweek prevents employee burnout, fosters a healthier workplace, and boosts company productivity.

[1/2] The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. So-called meme rallies are unusual share price gains, driven by social media sites patronized by individual traders. Magic Empire Global Ltd (MEGL.O), a provider of financial advisory and underwriting services, jumped 328% to $3.97 per share. It had closed at $0.93, shedding 7.2%, with a market capitalization of $18.8 million during regular market hours on Thursday. Both Top Financial and Magic Empire are currently two of the most watched stocks on Stocktwits, a website that is popular among retail investors.

☆ Russians trying to help the Kremlin are being scammed into throwing Molotov cocktails at its offices and cars instead: reports
▼ + stars: | 2023-04-28 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

They were told by scammers to chuck Molotov cocktails, but most were unsuccessful, per local media. The people involved have tried to set fire to enlistment offices, bank ATMs, a car trunk, and a police department, though most have been unsuccessful, the outlet reported. Olga told authorities an unknown man had been calling her for a month, saying he was a bank employee. He'd taught Olga how to create the Molotov cocktails and instructed her to start a fire in the government building, according to Shot. We're standing on the street where they stopped me," Olga told the man on the phone.

☆ Sam Altman is building his utopia, whether you want it or not
▼ + stars: | 2023-04-27 | by ( Melia Russell | Julia Black | ) www.businessinsider.com time to read: +41 min

Altman told Insider, "We debate our approach frequently and carefully." "I don't think anyone can lose your dad young and wish he didn't have more time with him," Altman told Insider. Altman told Insider that his thinking had evolved since those posts. (When asked about guns, Altman told Insider he'd been "happy to have one both times my home was broken into while I was there.") When asked about this, Altman told Insider in an email: "i can guess what that's about; these stories grow crazily inflated over the years of getting re-told!

☆ He's played chess with Peter Thiel, sparred with Elon Musk and once, supposedly, stopped a plane crash: Inside Sam Altman's world, where truth is stranger than fiction
▼ + stars: | 2023-04-27 | by ( Melia Russell | Julia Black | ) www.businessinsider.com time to read: +41 min

But, "you do at some point need to start having contact with reality," he told Insider. The plan was still only a rough sketch, Blania told Insider, but that didn't seem to matter to his host. "He always wanted to understand everything at a very deep level," Thrun told Insider in an email. (When asked about guns, Altman told Insider he'd been "happy to have one both times my home was broken into while I was there.") When asked about this, Altman told Insider in an email: "i can guess what that's about; these stories grow crazily inflated over the years of getting re-told!

☆ Microsoft made a big bet with ChatGPT. Months later, it’s already paying off.
▼ + stars: | 2023-04-27 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

Microsoft bet billions on OpenAI — its gamble is already paying off. Some analysts said Microsoft's successful integration of AI signals that it has already pulled ahead of Google. They even projected that Microsoft's cloud service Azure could be on track to surpass long-dominant Amazon Web Services. My teammate Paayal Zaveri highlights how Microsoft's AI wager has made it a surprising leader in tech's hottest field. He hit $2 million by the end of 2020, and in 2022 alone, he sold $4 million worth of products.

☆ 'I do TikTok to rip people off.' Videos produced in China are hawking scam products to millions, FT reports
▼ + stars: | 2023-04-26 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

They're pedaling products like fake weight loss coffee and acne medicine, the FT found. The FT said in its report that it had flagged 25 products in TikTok's UK marketplace; TikTok said those products have since been removed. TikTok, meanwhile, told the FT that it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements. Mo told the FT that he was joking; he couldn't be reached by Insider. In a statement to the FT, TikTok said it "has strict policies to protect users from fake, fraudulent, or misleading content," including advertisements.

☆ Bored Ape NFT creators win case against copycat artist
▼ + stars: | 2023-04-25 | by ( Elle Reeve | ) edition.cnn.com time to read: +4 min

CNN —Crypto company Yuga Labs has won its claims of trademark infringement against artist Ryder Ripps who copied their NFTs in what he called a protest of their racially offensive imagery. Ripps told CNN he would appeal. But critics commented on social media that some of the Bored Apes contained what looked like references to posts on the website 4chan, which has become a hub of extremism, and pointed out that apes are an old trope in racist imagery. “Once the court adopted the plaintiff’s framing of the case, it was clear what was going to happen: the plaintiff wins everything basically,” he said. “There was an underlying really important point that the defendants are trying to make about the possibility that there was some kind of Nazi glorification in the overall collection NFT collection for the Bored Ape Yacht Club,” Goldman said.

☆ Amazon launches program to identify and track counterfeiters
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

Online marketplaces in the United States including Amazon face hurdles in keeping counterfeiters off their platforms and fake merchandise from entering their warehouses. The new program mimics data exchange programs by the credit card industry to find scammers and identify their tactics. Stores and Amazon marketplace sellers can anonymously contribute information and records flagging counterfeiters to a third-party database or use the database to avoid doing business with the bad actors. The Seattle-based retail giant piloted the anti-counterfeiting initiative in 2021 with an undisclosed number of apparel, home goods and cosmetics stores, where counterfeiting is most common. Reporting by Arriana McLymore in New York City; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Phishing scams were up 61% in 2022, and the scammers' goal is to convince you to give them your information. A study from SlashNext even showed that in 2022, there were 255 million phishing scam attacks, a 61% increase compared to 2021. Fake bank emailsWhen you're scrolling through your inbox, you might occasionally get emails from your bank, open them up, and resolve what's inside. "These emails often contain a phishing link or attachment that, once clicked, can install malware on the user's device," he says. Real estate wire transferIf you're involved in real estate transactions, Sprung says there's a phishing scam happening in the industry that's worth paying attention to.

☆ A New York woman lost all her belongings to a moving company scam. She got a $10,000 settlement, but is living with her parents and scraping together 5 part-time jobs to make ends meet.
▼ + stars: | 2023-04-19 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

The 45-year-old lactation consultant won about $10,000 by suing the moving company. There weren't a lot of options available when it came to moving companies, but she eventually found Gold Standard Relocation. Everything seemed normal on Wagner's moving day — until the movers didn't show up and the company wouldn't answer the phone. She'd already paid the moving company about $4,300 to transport and store more than 70 boxes of her things and many furniture pieces for six months. Fraudulent moving companies will often offer customers a low estimate and deposit price, and then demand additional exorbitant fees after taking their belongings hostage.

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