Online scams have surged in recent years, with cybercriminals leveraging sophisticated AI-driven tactics to defraud individuals and businesses. In 2023 alone, global losses from online fraud reached just over 10 billion, marking a staggering increase from previous years.
Phishing attacks remain the most prevalent, accounting for nearly 40% of all digital fraud incidents. Meanwhile, deepfake scams and AI-powered social engineering are on the rise, with experts predicting a 25% increase in AI-generated deception just this year.
Financial institutions and cybersecurity firms are deploying advanced AI tools to detect and prevent fraud, but as scam tactics evolve, staying vigilant remains crucial.
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