How imposter scams generated $2.7 billion in just one year

The AI revolution will bring us immense rewards — and inconceivable new challenges. We are more reliant on technology than ever, and AI affects computer security and privacy in unlimited ways.

That’s what Mikko Hyppönen, Principal Research Advisor at F‑Secure, described in our ‘Staying ahead of cyber threats in the age of AI’ eBook. The latest data for money lost to scams from the US Federal Trade Commission (FTC) reinforces this statement, with imposter scams named 2023’s top fraud category. US consumers reportedly lost an eye-watering $2.7 billion to imposter scammers in just 12 months — a statistic that has increased exponentially year-on-year thanks to rapid technological advancements in, and wide-spread accessibility of, artificial intelligence. But what tricks did they use?

You can find out what the 3 most prevalent imposter scams using AI are on the following link:

https://www.f-secure.com/en/articles/how-imposter-scams-generated-billions