Mortgage industry experts are alerting professionals and consumers about a concerning new trend in fraud. Fraudsters have discovered a way to exploit artificial intelligence (AI) technology to mimic individuals’ voices, allowing them to craft convincing voicemails and emails. This is a significant development that poses a heightened risk of fraud, warns industry expert Cronkright.

Key Points:

– AI technology is being harnessed by fraudsters to replicate individuals’ voices.
– Fraudsters are able to create realistic voicemails and emails through AI simulation.
– This emerging practice increases the risk of fraud for both professionals and consumers.
– Mortgage industry professionals should remain vigilant to prevent falling victim to the fraudulent activities employing AI technology.

The utilization of AI to mimic voices for the purpose of perpetrating fraud is a troubling development. It is essential for mortgage industry professionals and consumers alike to stay informed and exercise caution to mitigate the risk of falling victim to these fraudulent activities.

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