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citizen.co.za
· 2026-08-04
African cybercrime losses more than doubled from $192 million in 2024 to $484 million in 2025, with AI enabling 55% of reported cybercrimes across the continent. South Africa faces particular exposure due to its advanced digital economy, with criminals using AI-driven credential harvesting, phishing, synthetic identity fraud, and sextortion to target financial institutions, telecoms, and individual victims across mobile money platforms and social media. The report highlights that 72% of surveyed African countries reported the presence of scam centers, with East Africa emerging as a hub for mobile money fraud and ransomware, while Southern Africa is targeted by global threat actors seeking maximum disruption.
itweb.africa
· 2026-08-04
In 2025, AI enabled 55% of cybercrimes across Africa, with reported losses more than doubling from $192 million in 2024 to $484 million in 2025, according to INTERPOL's African Cyberthreat Assessment Report. AI-powered attacks including phishing, business email compromise, romance scams, and credential harvesting became increasingly difficult to detect as criminals used automation for personalized messaging, executive impersonation, and synthetic identity creation. The report surveyed 36 African countries and found that while four INTERPOL operations recovered over $100 million and made 1,500 arrests, fragmented cybercrime legislation and limited law enforcement readiness ham
scworld.com
· 2026-08-04
A 2026 IBM report reveals that over one in five UK firms experienced AI-related security breaches in the past year, with such attacks surging 56% globally and averaging $6 million in costs per breach. Cybercriminals are directly targeting AI systems and exploiting weaknesses in APIs and cloud configurations, with deepfake impersonation being the most common AI-enabled attack at 45% of cases. In response, 61% of UK organizations plan to increase cybersecurity spending on incident response and AI governance.
africa.dailynewsegypt.com
· 2026-08-04
Across Africa, AI is now powering 55% of cybercrimes, with reported losses surging from $192 million in 2024 to $484 million in 2025, according to INTERPOL's analysis of 36 African member countries. Criminals are using AI-generated content, synthetic identities, and automated social engineering to conduct mobile money fraud, business email compromise scams, romance scams, and sextortion attacks, with approximately 600,000 sextortion detections recorded. East Africa faces particular threats from ransomware targeting critical infrastructure, while 72% of surveyed countries identified scam centers operating within their borders, with fragmented cybercrime legislation and low
wfxg.com
· 2026-08-04
Solid Rock Baptist Church and three partner churches are hosting a fraud prevention workshop on August 15, 2026, in Appling, Georgia, to educate seniors about common scams including impostor fraud, online shopping scams, and cryptocurrency investment schemes. Presenters from the Georgia Bureau of Investigation, AARP, and other agencies will discuss how scams have escalated dramatically—government impostor scams alone increased from $171 million in losses in 2023 to $789 million in 2024—and how emerging AI technology is making fraudulent schemes harder to detect. The workshop aims to help community members protect themselves and their families from scammers who target seniors' life savings.
africanews.com
· 2026-08-04
AI now powers over 55% of cybercrime cases across Africa, with financial losses surging from $192 million in 2024 to $484 million in 2025, according to INTERPOL's African Cyberthreat Assessment Report 2026. Online scams remain the most prevalent threat, with criminals using AI-generated content, deepfakes, and synthetic identities to conduct increasingly convincing fraud campaigns targeting mobile money users, businesses, and individuals across the continent. The report found that 72% of surveyed African countries have identified scam centers operating within their borders, with weak coordination between financial institutions and law enforcement hampering detection and prevention efforts.
allafrica.com
· 2026-08-04
Over half of cybercrimes reported across Africa now involve AI-enabled attacks, with financial losses reaching an estimated $484 million and criminals using synthetic identities to bypass security systems and commit fraud across banking, telecommunications, and government sectors. The INTERPOL African Cyberthreat Assessment Report 2026 found that 72 percent of surveyed countries reported organized scam centers, with Kenya experiencing 3.37 billion cyber threat events in early 2026 and facing attacks ranging from phishing to website defacement demanding ransom. International enforcement operations have begun addressing the threat, with Operation Red Card 2.0 resulting in 651 arrests across 16 African countries and recovery of $4.
beninwebtv.com
· 2026-08-04
African cybercriminals are increasingly using accessible AI tools to conduct fraud at scale, with generative AI enabling inexperienced actors to create convincing phishing emails, fake profiles, and deepfakes across multiple languages. According to Interpol, these technologies facilitate investment fraud, romance scams, sexual extortion, and business email compromise attacks, while African law enforcement faces significant challenges including lack of specialized training, cross-border jurisdictional issues, and difficulty distinguishing AI-generated from authentic content. The professionalization and automation of cybercrime networks has expanded the pool of potential attackers and multiplied victimization rates across the continent.
fox5vegas.com
· 2026-08-04
A cybersecurity expert at the Black Hat conference in Las Vegas warned that generative AI is enabling criminals to create more convincing phishing emails and deepfake audio/video, making scams harder to detect than the poorly written emails of the past. Las Vegas is identified as a high-value target because casinos and hotels store sensitive banking data, gambling habits, and travel information that criminals can exploit through stolen credentials or ransom demands. Experts recommend that breach victims activate credit monitoring, change reused passwords, and enable multi-factor authentication to protect their accounts.
washoelife.washoecounty.gov
· 2026-08-04
A co-defendant in a major fraud ring was found guilty of exploiting an elderly person after conspiring with others to steal nearly $500,000 from a 64-year-old woman through an elaborate phone scam. The scheme involved impersonating a federal agent who falsely claimed the victim was under investigation for money laundering, pressuring her to convert her assets and 401(k) into gold bars and cash that were collected by courier co-conspirators across Nevada and California. Anil Kumar faces up to 40 years in prison at his September sentencing, while his co-defendant was previously sentenced to 35 years.
cleveland19.com
· 2026-08-04
The Lorain County Sheriff's Office is warning of a sophisticated multi-stage impersonation scam where criminals pose as bank employees through spoofed text messages, phone calls, and in-person home visits to trick customers into surrendering debit or credit cards. The scam typically begins with a text from a spoofed bank number asking about a purchase, followed by a call from someone claiming to be from the fraud department who offers to send an employee to collect the compromised card and provide a temporary replacement. Authorities emphasize that legitimate banks never send employees to homes to collect cards or personal information, and urge customers to hang up and contact their bank directly using official numbers rather than responding to unsolicited messages.
foxnews.com
· 2026-08-04
AI-powered phishing scams originating from China are targeting hundreds of thousands of Americans through fake text messages impersonating trusted brands like T-Mobile, causing millions in losses. These scams use urgent language and fake links to trick people into sharing personal information, passwords, or payment details by impersonating delivery companies, banks, and toll agencies. Google and security experts recommend verifying messages through official company channels rather than clicking links in unexpected texts, checking for vague greetings and grammatical errors, and never sharing verification codes with anyone.
saharareporters.com
· 2026-08-03
According to INTERPOL's African Cyberthreat Assessment Report 2026, artificial intelligence is now linked to 55% of reported cybercrimes across Africa, with financial losses more than doubling from $192 million in 2024 to $484 million in 2025, driven primarily by AI-enabled scams, credential harvesting, and automated social engineering attacks. The report found that online scams targeting mobile money platforms and social media are the most common cybercrime, with 72% of surveyed African countries reporting the presence of scam centers, while criminals are increasingly using AI-generated deepfakes and synthetic digital identities to bypass biometric systems and commit fraud.
interpol.int
· 2026-08-03
Artificial intelligence is enabling 55% of cybercrimes across Africa, with cybercrime losses more than doubling from USD 192 million in 2024 to USD 484 million in 2025, according to INTERPOL's African Cyberthreat Assessment Report 2026. AI-facilitated scams, business email compromise schemes, romance scams, and digital sextortion are widespread, with 72% of surveyed African countries reporting the presence of organized scam centers. INTERPOL-coordinated operations in 2025 resulted in over 1,500 arrests and recovered more than USD 100 million, highlighting the need for stronger international cooperation and standardized cyberc
accountingtoday.com
· 2026-08-03
A study found that AI bots are 2.5 times more effective than human scammers at building trust with romance scam victims, with an AI agent achieving 46% compliance in convincing test subjects to install a suspicious app compared to 18% for human scammers. Researchers recruited 22 educated participants across 12 countries and had them interact with both human and AI partners over seven days, discovering that participants engaged significantly more with the AI, sent more messages to it, and reported higher emotional trust despite some obvious AI mistakes. The findings highlight the automation potential of romance-baiting scams that exploit victims through text conversations before pressuring them into fraudulent cryptocurrency investments.
interpol.int
· 2026-08-03
AI is fueling 55% of reported cybercrimes across Africa, with cybercrime losses more than doubling from $192 million in 2024 to $484 million in 2025, driven by AI-facilitated scams, romance fraud, business email compromise, and sextortion targeting both individuals and corporations. The report found that 72% of surveyed African countries reported the presence of scam centers, with attackers using AI to create synthetic identities that bypass biometric verification systems to commit fraud across mobile money platforms and banking services. INTERPOL's coordinated operations in 2025 resulted in over 1,500 arrests and recovered $100 million, highlighting the need for
governor.hawaii.gov
· 2026-08-03
Hawaii's Department of the Attorney General is warning the public about a scam in which criminals impersonate Attorney General Anne Lopez via text messages, instructing victims to purchase gift cards and send photographs of the cards and redemption codes. One victim received such messages but was able to recover funds through their financial institution. The department emphasizes that no state official will request gift cards, gift card numbers, or money through unofficial communications, and urges anyone targeted to contact local police or the Attorney General's office.
channelnewsasia.com
· 2026-08-03
Singapore removed most public officers' contact details from its online Government Directory effective July 1, 2026, to combat rising government impersonation scams and phishing attacks. Government official impersonation scams more than doubled in 2025, with 3,363 cases resulting in S$242.9 million in losses, representing the second-highest loss category among all scam types. The directory now lists only senior officials and political appointees while directing the public to official agency feedback channels and quality service managers instead.
smsmagazine.com.au
· 2026-08-03
Former director Larry Dawson was permanently disqualified from managing corporations after the Federal Court found he breached his duties by allowing his company, PW Kitt Co Pty Ltd, to operate a fraudulent SMSF scheme that defrauded Australian investors of approximately $7 million in superannuation funds between 2019 and 2020. The scam involved cold-calling consumers and operating fake websites designed to mimic legitimate licensed businesses, with funds being transferred to cryptocurrency accounts to conceal their dissipation. Dawson subsequently faced criminal charges and was sentenced in August 2024 for knowingly dealing with proceeds of crime.
interpol.int
· 2026-08-03
Cybercriminals in Africa are using AI to conduct 55% of reported cybercrimes, with losses more than doubling from $192 million in 2024 to $484 million in 2025, according to INTERPOL's 2026 African Cyberthreat Assessment Report based on data from 36 African member countries. Online scams, business email compromise, romance scams, and digital sextortion—facilitated by AI-generated deepfakes and synthetic identities—are proliferating across the continent, with 72% of surveyed countries reporting the presence of scam centers. Despite these challenges, coordinated international operations led to over 1,500 arrests
swoknews.com
· 2026-08-02
AI-powered scammers are increasingly using personal data harvested from social media and public sources to create sophisticated, personalized frauds targeting elderly individuals. These scammers leverage AI technology to impersonate family members by mimicking phone numbers, email addresses, voices, photos, and videos, enabling them to deceive victims within seconds. The article warns that social media and data mining have made it easier for fraudsters to gather the raw materials needed to execute these highly targeted scams.
facebook.com
· 2026-08-02
Colorado residents are increasingly reporting "You're Invited" scams involving fake Evite and Paperless Post emails that compromise email accounts through phishing. AARP ElderWatch has documented rising incidents of this scam targeting victims in the state, with fraudsters using legitimate-looking party invitation platforms to steal personal information.
kdsm17.com
· 2026-08-02
Young people aged 13-28 are targeted by scammers who exploit their heavy social media use through fake product ads at unrealistic prices, counterfeit giveaways, and personality quizzes designed to steal personal and financial information. Additional threats include fake online storefronts with poor quality photos and vague policies that trick users into sharing payment information. Parents should teach children to verify URLs, avoid clicking suspicious links, and only shop on trusted, verified websites.
americanbazaaronline.com
· 2026-08-02
AI-enabled investment scams cost Americans $632 million in 2025, representing the largest category of AI-related fraud with 4,356 complaints reported to the FBI. AI-assisted fraud grew 1,210% in 2025 compared to 195% growth in traditional scams, with criminals using deepfakes and AI technology to convincingly impersonate legitimate financial institutions and brokers. The FBI received over 22,000 total AI-related fraud complaints in 2025 with $890 million in losses, with investment scams, extortion, and data breaches accounting for the majority of cases.
meridiansource.ca
· 2026-08-02
Saskatchewan RCMP warned of a text message scam targeting residents in the Carnduff and Indian Head regions that falsely claims to be from the Provincial Court of Saskatchewan, directing recipients to click a link to pay traffic tickets or face court appearance. The scam messages are phishing attempts designed to steal personal and financial information, and authorities advise recipients not to click links, send money, provide sensitive data, or respond to the messages. No specific dollar amounts were reported in connection with the scam circulation.
theguardian.com
· 2026-08-02
Scammers are sending fake text messages impersonating RingGo parking app, claiming recipients owe parking fees and threatening enforcement action to pressure them into clicking malicious links that lead to counterfeit websites. If victims enter their login credentials or financial details on these fake sites, criminals can drain their bank accounts or steal their personal information. The scam specifically targets iPhone users by exploiting iMessage's security settings, and uses red flags like poor spelling and suspicious URLs to deceive recipients.
pickr.com.au
· 2026-08-02
As Australia prepares for its August 11, 2026 Census, scammers are targeting households with phishing emails and fraudulent websites designed to steal personal information including banking details, logins, and identification data. The Census itself does not require financial or social media information, but criminals are exploiting the event's urgency and widespread participation to deceive Australians into providing sensitive details on fake government sites. Authorities warn residents to verify sender addresses, avoid clicking suspicious links, and be cautious of messages claiming overdue forms or pending fines.
businessreport.co.za
· 2026-08-02
Tax season in South Africa faces a rising wave of sophisticated scams targeting taxpayers, including phishing emails impersonating the South African Revenue Service (Sars), fake refund promises, and identity theft schemes that hijack eFiling profiles. Cybercriminals are exploiting modernized digital tax systems by creating convincing fraudulent communications with subtle variations in email addresses and website URLs to steal login credentials and banking information. Taxpayers are advised to verify sender email addresses use official @sars.gov.za domains, avoid clicking unsolicited links, and remember that Sars never requests sensitive information or payments via unsolicited messages.
m.riverbender.com
· 2026-08-02
The Madison County Clerk's Office is warning voters about rising election-related scams, including phishing texts and emails that attempt to trick recipients into clicking malicious links, sharing personal information, or verifying voter registration through unofficial channels. Scammers are using AI to make fraudulent messages more convincing, with the goal of stealing personal data, passwords, financial information, and undermining election confidence. Voters are advised to never click links in unsolicited election messages, verify information only through official government sources, and contact the Madison County Clerk's Office directly with questions or suspicious messages.
modernghana.com
· 2026-08-02
West African fraud networks operating primarily from Nigeria and Ghana have targeted millions of Americans, with the FBI reporting $16.6 billion in scam losses in 2024 alone, including over $1 billion from romance scams targeting American women. The "Yahoo Boys" and "Sakawa Boys" typically pose as White American men or military personnel on dating platforms and social media to defraud victims. While law enforcement operations like INTERPOL's Operation Red Card 2.0 resulted in over 650 arrests and $4.3 million recovered, the schemes persist due to high unemployment in West Africa, AI-enabled impersonation tools, and the transnational nature of the crime.
techbullion.com
· 2026-08-02
Cryptocurrency scams exploit blockchain technology and social engineering to steal digital assets, with victims facing permanent losses since blockchain transactions are typically irreversible. Common schemes include fake investment platforms promising unrealistic returns, compromised wallets, and phishing attacks targeting personal information and account access. Victims should report incidents quickly, preserve evidence, and seek assistance from legitimate recovery services rather than delay reporting due to embarrassment or believing recovery is impossible.
deccanchronicle.com
· 2026-08-01
A South Carolina Supreme Court judge highlighted that human trafficking convictions in India remain critically low at 5-10%, calling for comprehensive anti-trafficking legislation, stronger victim protection mechanisms, and better law enforcement coordination. The judge noted that trafficking methods have evolved to include cyber fraud and online scams, with syndicates using phishing, malware, identity theft, and pig butchering schemes to exploit victims. The conference brought together 500 delegates from across Telangana to address procedural delays, witness intimidation, and inadequate evidence collection that contribute to poor conviction rates and to advance survivor-centered rehabilitation and justice.
finance.biggo.com
· 2026-08-01
According to Solana Foundation's CISO Michael Coates, AI-powered deepfake scams and social engineering attacks have become a greater security threat to cryptocurrency than smart contract vulnerabilities, with techniques like "pig butchering" romance scams becoming increasingly sophisticated. Coates warned that advances in AI and deepfakes—including fake voice calls and false identities—could enable fraud to proliferate at massive scale, making it realistic for anyone to be deceived. He advocated for multi-layered security frameworks as a solution, emphasizing that industry success depends on building systems that protect users by default rather than expecting them to become security experts.
en.bloomingbit.io
· 2026-08-01
The Solana Foundation's Chief Information Security Officer warns that AI-driven scams, including sophisticated phishing, identity fraud, romance scams, and pig-butchering schemes, are becoming a major threat to the blockchain industry by targeting individuals rather than exploiting technical vulnerabilities. These AI-powered social engineering attacks steal sensitive information like private keys and seed phrases, with deepfakes and voice mimicry expected to make such threats increasingly severe. The CISO recommends implementing layered security systems to protect users who may fall victim to these deceptive schemes.
sent-trib.com
· 2026-08-01
Wood County Sheriff Mark Wasylyshyn and Prosecutor Paul Dobson conducted educational presentations at senior centers to warn older adults about scams, noting that seniors are targeted three to five times more often than other groups due to loneliness, trust, and limited technology knowledge. From 2020 to 2024, cases involving losses of $10,000 or more increased four-fold, while cases with losses exceeding $100,000 increased seven-fold in the county, though authorities believe actual numbers are higher due to underreporting. The officials advised seniors to never provide personal information to callers, avoid clicking suspicious links, be wary of urgency and fear tactics, and recognize red flags such as
independent.ng
· 2026-08-01
Nigerian criminal networks are increasingly using digital platforms and online scams to recruit and exploit human trafficking victims, luring them with fake job offers, scholarships, and business proposals shared through social media and messaging apps. Government officials and international agencies have acknowledged that existing laws and institutions are inadequate to combat this evolving threat and are calling for urgent legal reforms, stronger inter-agency collaboration, and technology-driven solutions to address the growing epidemic of digitally-enabled human trafficking.
en.cryptonomist.ch
· 2026-08-01
A Cambodia-based scam network used ChatGPT extensively across all operations—from creating fake dating profiles and investment schemes to generating emotionally manipulative messages and forging documents—to run a diversified fraud enterprise including romance cons, fake investment platforms, gambling schemes, and law enforcement impersonation. OpenAI disrupted the network in 2024 after learning of its activities through WhatsApp reports, finding that individual victims lost thousands of dollars, though the total scale of the operation affecting multiple target types remains unknown. The operation demonstrated how organized crime groups are systematically integrating generative AI into both external victim-facing fraud and internal organizational functions like staff communications and recruitment.
bitdefender.com
· 2026-08-01
The Better Business Bureau warns consumers about postcards claiming they qualify for free gas and grocery gift cards, which actually lead to unauthorized charges and personal information theft. Victims report paying small "processing fees" (around $5) that result in additional unauthorized charges totaling $50 or more, plus exposure to identity fraud and phishing attacks. Scammers use these tactics because physical mail appears legitimate, families seek ways to reduce expenses, and low upfront costs make victims less likely to question the offers before providing payment details.
aarp.org
· 2026-08-01
I cannot provide a summary of this content because what you've provided is only the navigation menu structure of an AARP website, not an article about a specific scam or fraud incident. There is no actual article text describing what happened, who was affected, or any fraudulent activity.
Please provide the actual article content if you'd like me to summarize it.
techtimes.com
· 2026-07-31
Researchers found that an AI chatbot built from commercial tools outperformed trained human romance scammers at building trust and extracting behavioral compliance from test subjects, achieving a 46% compliance rate versus 18% for human experts. When 250 simulated romance-baiting conversations were tested against safety filters from OpenAI, Google, and Meta, none of them were flagged or detected—revealing that major AI vendors' safety infrastructure fails to catch romance scam tactics despite their widespread threat. The study highlights a critical vulnerability where AI handles trust-building while human operators take over for financial extraction, making the criminal pipeline invisible to current AI safety systems.
latimes.com
· 2026-07-31
Immigration-related scams have surged dramatically in Orange County and nationwide, with con artists impersonating licensed attorneys using fake websites, AI-generated photos, and stolen identities to defraud vulnerable immigrants seeking legal help, with victims losing hundreds to thousands of dollars. The scams have become increasingly sophisticated, with some legitimate attorneys also participating in fraud by filing false asylum and visa applications without client knowledge, exploiting immigrants' desperation during a surge in deportation cases. Federal Trade Commission complaints about immigration service fraud increased from 623 in 2023 to 1,626 in 2025, and disciplinary actions against immigration lawyers nationwide have escalated significantly.
sbs.com.au
· 2026-07-31
As Australia's 2026 Census approaches, scammers are impersonating the Australian Bureau of Statistics through cold calls, fake texts, and phishing emails to trick residents into sharing personal information. The ABS has clarified it will never request sensitive data, offer prizes, or contact people via social media, and legitimate Census communications come only from official @abs.gov.au email addresses and include an ABS logo or yellow field officer identification. Australians are urged to verify any Census-related contact through the official ABS website or Scamwatch before responding.
wdsu.com
· 2026-07-31
Scammers are targeting new employees with text messages impersonating company leaders and requesting purchases of gift cards, with amounts like $300 in Google gift cards reported. The scam exploits publicly available information from LinkedIn posts and job announcements to identify new hires and impersonate their managers. Experts advise verifying requests directly with coworkers and reporting suspicious messages to prevent financial loss, as these non-refundable digital purchases are difficult to recover.
riograndeguardian.com
· 2026-07-31
Summer travel scams are on the rise, with a McAfee report finding that 38% of travelers encountered travel-related scams and 41% of those lost money, as scammers increasingly use AI to make fraudulent schemes appear more authentic. Common summer scams include fake travel deals, password theft, caller ID spoofing impersonating airlines and hotels, and impersonation of government agencies using scare tactics. Protection strategies include verifying travel deals through official channels, never sharing passwords or one-time codes, keeping vacation photos private, and hanging up on suspicious callers rather than using the number on caller ID.
sbs.com.au
· 2026-07-31
Ahead of Australia's 2026 Census on August 11, the Australian Competition and Consumer Commission's Scamwatch has received reports of scams where fraudsters impersonate the Australian Bureau of Statistics through fake emails, texts, and calls to trick people into sharing personal information. The ABS has warned that scammers may pose as Census officials requesting sensitive data, offering prizes, or using hyperlinks in emails—none of which legitimate Census communications will do. Australians are advised to verify any Census-related contact through the official ABS website or hotline (1300 100 557) and report suspicious messages to Scamwatch.
arstechnica.com
· 2026-07-31
Researchers conducted a study comparing AI chatbots to human scammers in "pig butchering" romance scams that lead to fake cryptocurrency investments, finding that AI chatbots significantly outperformed humans at the trust-building stage, with nearly 50% of test subjects complying with chatbot requests versus fewer than 20% for human scammers. The study, based on interviews with 145 former scam workers including trafficking survivors from Southeast Asia, suggests that scammers could use AI to automate the lengthy relationship-building phase before handing off to humans for the final investment solicitation to bypass AI safeguards. This hybrid approach could enable scam operations to defraud victims of six-figure
commbank.com.au
· 2026-07-31
Tax impersonation scams are targeting Australians via SMS, email, and phone calls that mimic the ATO or myGov, claiming refunds are waiting, money is owed, or details need updating, with links leading to fake websites designed to steal personal information. CommBank research found 62% of participants are exposed to scams at least once weekly, with both individuals and small businesses vulnerable, particularly during tax season as the October 31 lodgment deadline approaches. The scams succeed because they appear legitimate and exploit authority bias and psychological factors like stress and time pressure, rather than relying on obvious warning signs.
wxyz.com
· 2026-07-31
A 16-year-old Troy student fell for a job scam after receiving a phishing email impersonating his school, which included fake checks for $1,500 and requested he send back $900 via Zelle. Although he avoided direct financial loss when the checks bounced, his bank account was subsequently closed and he may be unable to open a new account for five years. The incident highlights a 198% increase in reported losses among those under 20 in 2025, as scammers increasingly target young people with fraudulent job opportunities.
helpnetsecurity.com
· 2026-07-31
Cybercrime has evolved into a commercialized subscription-based ecosystem where criminals rent AI tools, malware, and infrastructure to conduct attacks at scale, with threat actors targeting executives, consumers, and enterprises through impersonation fraud, phishing, banking trojans, and pig-butchering scams. The sector employs cloaking technology, bulletproof hosting, and AI-generated lures to evade detection, with specific cases including fake CAPTCHA scams costing victims approximately $30 per interaction and Android banking trojans stealing digital identities including facial biometrics and one-time passwords. This fragmented criminal economy enables low-skilled actors to operate efficiently while exploiting trusted infrastructure and corporate networks,
businessinsider.com
· 2026-07-31
Agentic fraud—automated scams planned and executed entirely by AI without human involvement—is emerging as a major threat, with AI systems now capable of researching targets, conducting convincing conversations across multiple platforms, and scaling operations far beyond what human fraudsters could achieve. According to Incode's research, there were 66 publicly reported AI-enabled fraud incidents in the U.S., with major tech companies like Anthropic, OpenAI, and Microsoft already detecting criminal use of their AI systems for romance scams, phishing, data theft, and extortion. Incode predicts that within two years, the majority of fraud losses worldwide will stem from agentic fraud, with imposter scams alone