AI Fuels Skyrocketing Digital Fraud, Impacting 9 in 10 Americans, Consumer Reports Finds
Digital fraud is experiencing a significant surge, largely attributed to the advancements in artificial intelligence (AI), which is enhancing criminals' capabilities to defraud Americans. A new report from Consumer Reports, Aspen Digital, and the Global Cyber Alliance indicates that nine out of ten Americans have encountered a cyber scam or cyberattack. Approximately 17% of consumers surveyed reported losing money due to a digital security breach. Experts note that AI is lowering the barriers for scammers, making previously costly or labor-intensive scams more accessible. The technology facilitates more data breaches by enabling scammers to quickly synthesize information, which they then use to create highly personalized and convincing traps. Stacey Higginbotham, a Consumer Reports cybersecurity fellow, emphasized that while there are stereotypes about who falls victim to scams, AI is accelerating the threat to everyone, suggesting that the full extent of AI-driven scams has yet to be seen. The report, bas...