Staying safe online:
What brokers need to know about AI scams
Your clients trust you to help them find the right loan. But they also rely on you to guide them through a financial journey that feels safe and secure. In today’s digital world, that trust is facing new challenges, with AI scams on the rise.
These scams are getting smarter, faster, and harder to spot. That’s why it’s more important than ever for brokers to stay informed and be able to take actionable steps to help protect your business and your clients.
What makes AI scams different
Dodgy spelling and suspicious links haven’t disappeared - they’re still out there. But now, scammers have added a new layer of complexity: AI-powered deception. These scams are more convincing, more personalised, and harder to spot.
Here’s what we’re seeing:
- Voice cloning: scammers can replicate a broker’s or client’s voice with just a few seconds of audio
- Deepfake videos: fake video calls or ID verifications that look real enough to fool even the cautious
- Hyper-personalised phishing emails: AI can generate emails that sound like your bank, aggregator or even a colleague, using publicly available data
These scams feel authentic, which makes them more dangerous.
The numbers tell the story
AI scams aren’t just a future threat. They’re happening now.
- Australians lost $945 million to investment scams in 2024, many of which used AI-generated content and fake trading bots.1
- Phishing scams caused $19.5 million in losses in 2025, driven by impersonation tactics and crypto-related fraud.2
- ASIC is shutting down around 130 scam websites every week, including deepfake-driven investment platforms and fake broker portals. 1
- Reports of scam losses via social media increased by 30%, with over 3,300 Australians affected in early 2025.3
How brokers can stay safe and help clients do the same
You’re often the first line of defence. Here’s how to stay one step ahead:
Double-check unusual requests
Share simple safety tips with clients
Help clients spot red flags like:
- Unexpected urgency
- Unusual payment instructions
- Small details that don’t feel right
A short email or resource from you could help prevent a costly mistake.
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Strengthen your digital hygiene
- Use Multi-Factor Authentication (MFA) on all platforms
- Update passwords regularly ensuring they’re unique and strong
- Ensure regular software updates across your operating system(s)
- Be mindful of what you share publicly, both personal and professional
- Vet your tech vendors and understand their security measures
Stay connected with your lender and aggregator
Be a trusted sounding board
Sometimes, the most helpful thing you can offer is reassurance. If a client feels unsure about a message or call, encourage them to check with you first. You’re not just helping them avoid scams, you’re building long-term trust.
