27 Nov AI Contributes to Rise In Cybercrime Targeting Elderly Americans
This week in cybersecurity from the editors at Cybercrime Magazine
–Read the Full story in Movieguide
Sausalito, Calif. – Nov. 27, 2024
Movieguide reports that cybercrime is on the rise, thanks to AI technology that makes it harder and harder to figure out if you’re being scammed or not.
Global cybercrime costs are expected to “grow by 15 percent per year over the next five years, reaching $10.5 trillion USD annually by 2025, up from $3 trillion USD in 2015,” according to Cybercrime Magazine.
Will Maxson, Assistant Director of the Federal Trade Commission’s Division of Marketing Practices, points to the rise in AI tech and tools that can make scams hard to detect. “You can have extremely accurate voice cloning done very quickly,” he explained to The Christian Broadcasting Network (CBN). “Video cloning has become better and better, more seamless, and harder to spot, really every day.”
CBN reported that “older Americans are especially vulnerable, with seniors reporting nearly $2 billion in fraud losses last year.”
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