tech
AI scams drove UK reports of fraud to record 444,000 last year
Criminals using artificial intelligence tools to take over mobile, bank and online shopping accounts, says Cifas
TL;DR
- Record 444,000 fraud cases reported in the UK last year, a 6% increase.
- AI technology is increasingly used by criminals for large-scale deception and account takeovers.
- Common targets for account takeovers include mobiles, online shopping, and personal credit cards.
- Criminals are using "fraud as a service" kits and AI-generated synthetic identities to commit crimes.
- Identity fraud, where data is stolen to impersonate victims, is a major type of scam.
- Over 22,000 cases of money muling were reported.
- Fraud constitutes over 40% of all crime in the UK.
- Consumer confidence in spotting AI-enabled scams is low, with only 36% feeling capable.