AI Scams

AI scams use generative AI, voice cloning and deepfake technology to fabricate identities, scripts or images and steal money or assets. Recent cases have centered on impersonation of friends and relatives, cryptocurrency romance-investment scams, and corporate and tax fraud. The FBI has also reported an increase in older victims, while Google, trading platforms and financial institutions are strengthening detection and verification. As these tools become easier to obtain and attacks scale up, existing login and identity-verification systems face growing challenges. Advances in anti-fraud technology, regulatory responses and changes in actual losses warrant continued attention.