The growing dominance of artificial intelligence online is opening doors to new scams, research has found.

Deep fakes and ChatGPT phishing are leading to warnings being raised over the sophisticated tactics being used to part UK residents with our cash as Brits have already lost more than £1billion from their bank accounts since the start of the year.

Research from savings marketplace Raisin revealed that almost half of Brits (48 percent) feel more at risk of scams as fraudsters become increasingly sophisticated in using technological advances to overcome the measures financial institutions put in place for protection.

ChatGPT phishing gives the text, tone and coherence of legitimate sources. Voice cloning replicates somebody’s tone and language to trick someone else into having a genuine phone conversation. Verification fraud can be used to subvert standard security checks.

Despite these sophisticated tactics three in five (61 percent) UK adults are confident they can tell the difference between human and AI-generated communication.

Expert’s top tips on how to spot an AI scam

• Many deepfakes use lip-syncing software, so keep a close attention to any lip-syncing that’s slightly off. AI is good, but often not perfect!

• Is the voice slightly robotic or doesn’t flow as expected? AI often can cut and chop audio from other videos, or clone the voice through text-to-speech.

• Does the hair, lighting and skin tone of the person look believable? Can you detect any blurring of the video, this can be used to hide any imperfections in AI.

• AI struggles to mimic natural blinking and often struggles with facial expressions. Does the video look unnatural? AI can often give people the look of having botox.

• Where does the video actually come from? If it’s not been published on their personal verified accounts, or by a trusted organisation, be wary.

• If you have received a phone call and you think it may be a voice cloning scam, a scam where the person sounds like someone you know, try to listen out for background noises or unexpected changes in the tone of their voice. Experts recommend laughing in response as AI struggles to recognise and respond to laughter.

• If a scam is promising an investment opportunity, or talking about purchasing gift cards or cryptocurrencies, it’s likely a scam. Hang up if it’s a call, or report the post to social media sites if you’ve discovered it on social media.

Kevin Mountford, co-founder of Raisin UK, said: “It is crucial to highlight the severity of online fraud and the potential harm it can cause individuals. Falling prey to online fraud can lead to significant financial loss, erode trust in online platforms, and even compromise personal information.

“Therefore, we must remain vigilant, practice safe online habits, and report suspicious activity to relevant authorities. Preventive measures play a vital role in protecting yourself from the dangers of online fraud.”

Despite losing on average £83.69 as a result of scams in the last year, fewer than a third (30 percent) of Brits report the incident to the bank, with only a quarter notifying the relevant online sales platform,

More than one in four (27 percent) do not report the scam at all. This may be due to an emotional cost, with Brits most likely to feel very angry (28 percent) and anxious (27 percent), while 23 percent develop trust issues.