"Artificial intelligence has made fraud dramatically cheaper, easier to execute, and far more scalable. What once required time and coordination can now be automated and deployed at industrial scale."
"Fraud has shifted from a manual activity to a machine-driven one. Hyper-personalised social engineering campaigns, often powered by AI agents, now operate across multiple channels, jurisdictions, and identities."
Artificial intelligence is significantly changing the landscape of fraud, making it cheaper and easier to execute at scale. The shift from manual to machine-driven fraud allows for hyper-personalized social engineering campaigns that can impersonate individuals with high credibility. While concerns about cyber risks are valid, they are not the only threats; AI capabilities already in use are targeting individuals directly. This evolution in fraud tactics requires urgent attention and action from financial institutions.
Read at Fortune
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