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ABA: The American Bankers Association
Industry News
  • January 25, 2024

How Fraudsters Are Stepping up Call Spoofing Scams With AI and Deep Fake — and Solutions Business Leaders Can Use to Fight Back

Imposter scams have quickly become the fastest growing fraud in the US — and consumers and businesses need to be aware of this rising trend. Imposter scams involve a fraudster pretending to be someone they’re not to steal money or information. With advances in artificial intelligence (AI) and large language models, these scams have grown more complex, convincing and costly, going from $196 million in losses in 2020 to a whopping $660 million just two years later. And if you think you’re too savvy to be tricked, think again.
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TransUnion LLC

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