"Fraud losses have surged nearly 430% since 2020, according to FTC testimony at a recent Congressional hearing. The money flows mainly into the pockets of foreign crime syndicates."
"Over the next three to five years, expects a sharp escalation in transnational fraud, driven by artificial intelligence, low-cost digital tools, and increased global criminal collaboration."
"Corporate America started warning last year about the severity of the threat. In February 2025, Google issued a report entitled: 'Cybercrime: A Multifaceted National Security Threat.'"
Fraud losses have surged nearly 430% since 2020, with foreign crime syndicates exploiting various scams. Chinese gangs, Indian call centers, and Mexican narco-terrorists are among the perpetrators. Teens are particularly vulnerable, with sextortion leading to tragic outcomes. The next few years are expected to see a rise in AI-driven fraud schemes. Corporate America has begun to recognize the severity of cybercrime, urging policymakers to prioritize it as a national security issue.
Read at The Cipher Brief
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