The AI Scams No One Is Prepared For (And How to Protect Yourself)

In this episode of the FMI Podcast, Marlana Lancaster and David Elmore break down the alarming rise in financial scams and how they’re impacting everyday people. From AI voice impersonation to romance and cryptocurrency scams, they share real-life stories, warning signs, and practical ways to protect yourself and your loved ones. This conversation highlights just how sophisticated scams have become—and why awareness is your best defense.(0:00) Introduction & Why Scams Are a Growing Threat(1:21) Shocking Scam Statistics ($1.3B → $30B)(2:13) AI Voice & Grandparent Scam Explained(5:12) Where Scammers Operate (Global & Organized Crime)(6:25) Romance Scams & Average Losses(7:14) Real Story: $600K Crypto Romance Scam(9:40) How Romance Scams Start (Social Media & Apps)(10:10) Red Flags in Online Relationships(11:30) Utility & Tech Support Scams(13:01) Precious Metals & “Inheritance” Scams(15:28) “No Free Lunch” Principle & Financial Wisdom(17:24) IRS & Tax Identity Theft Scams(19:50) Practical Tips to Avoid Being Scammed(21:44) How Financial Firms Protect Client Assets(23:36) Final Advice: Stay Alert & Help Others Stay Safe