Trend AI raising scam volume and credibility while aiding detection

Summary

In the short term, the report expects AI to raise the number of scam attempts and make them more persuasive. At the same time, AI has the potential to become a powerful tool for spotting scams and money laundering. Technological progress such as AI has already made fraudsters' methods more sophisticated, and the internet has widened their pool of targets through digital footprints and anonymity. In its AI chapter the report warns that generative AI can serve as an enabler of criminal activity including fraud. It also links the two chronic risks because AI could generate more convincing fraudulent content or scale up fraud through automation.