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Scamming Becomes $422 Billion Business With AI Assistance
pymnts.com·October 11, 2026·1 min read
AI Summary
Scammers are increasingly using artificial intelligence to enhance their operations, transforming fraud into a $442 billion global industry across 42 countries. The Global Anti-Scam Alliance reports that AI tools are enabling scammers to operate more efficiently and convincingly, leading to record financial losses for victims worldwide.
From the source
Like many industries, scamming is getting an artificial intelligence-powered upgrade. That’s according to a report Saturday (Oct. 10) by Bloomberg News, citing data from the Global Anti-Scam Alliance estimating victims lost $442 billion across 42 countries la…
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