As AI enables more and more scam calls, a Canadian startup is trying to prevent financial losses to bad actors over the phone in real time.\u00a0<\/p>\n
\u201cAll processing happens in the moment, during the call itself, [and] once a call ends, no data about it is stored, we never keep recordings or transcripts.\u201d<\/p>\n
Montr\u00e9al- and Atlanta-based OnGuardAI launched a scam-protection app on Friday in the US to coincide with National Financial Awareness Day. The startup says it\u2019s looking to flag and stop fraudulent calls while they\u2019re happening through its app, which monitors calls in real time and sends an instant text to the user and a family member if \u201cfraud patterns\u201d are detected.<\/p>\n
\u201cAll processing happens in the moment, during the call itself,\u201d OnGuardAI co-founder and CEO Richard Gotlieb told BetaKit in an email. \u201cOnce a call ends, no data about it is stored, we never keep recordings or transcripts.\u201d<\/p>\n
The app is mainly designed for seniors, who are disproportionately targeted by phone fraudsters in Canada and the US. It\u2019s a growing problem across age ranges, too: according to the Canadian Anti-Fraud Centre, Canadians lost $643 million to fraud in 2024, up nearly 300 percent since 2020. Common scams include a caller impersonating a government official to try to obtain information like social insurance numbers, or fake family emergencies that ask for banking credentials. Gotlieb explained in a press release that his father\u2019s experience with a scam caller led him to realize that scam victims can be educated about warning signs but still get tricked into giving scammers their money.<\/p>\n
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That\u2019s why OnGuardAI says its tech analyzes speech in real time for \u201cknown social engineering tactics,\u201d such as emotional pressure and manipulation. Though other services exist that already do this and flag worrisome calls, OnGuardAI takes it further by sending an immediate text to an associated family member with a list of red flags and suggested actions.\u00a0<\/p>\n
Despite beta tests with Canadian users, the OnGuardAI app isn\u2019t yet widely available in Canada due to pricing barriers.\u00a0<\/p>\n
\u201cThe economics only work where carriers don\u2019t charge for call forwarding,\u201d Gotlieb explained in an email. He added that the app, which is available on a monthly or annual subscription basis, works with Rogers-band carriers, but the team is working on offering availability through Bell and Telus carriers.\u00a0<\/p>\n
Feature image courtesy Unsplash. Photo by Centre for Ageing Better.<\/p>\n