Experts are warning about an increase in scams using AI. Here's how to protect yourself.

Financial fraud is getting more sophisticated and expensive.

The FBI is warning the public about a "phantom hacker" scam that's drained more than $1 billion from seniors' retirement accounts. The fraudsters are going beyond traditional tactics; they've started using AI.

It can start with a phone call that sounds like a loved one, or maybe it's an email that looks like it's from your bank. Instead, it's artificial intelligence trying to fool you into giving up your money .

"The thought that AI regulate some of these very complex schemes is not a far-fetched thought at all anymore. It's something it's directly capable of doing," treasury manager at Midwest One Bank Alex Heeran said.

Heeran says seniors have the most cash on hand, making them an obvious target. However, while seniors