AI-Driven Impersonation Scams Cost Consumers $12.5 Billion

Consumers reported losing $12.5 billion to scammers. The losses are driven by the use of AI technology to impersonate others through fake voices, photos, and video. AI acts as a microtargeting tool, allowing scammers to personalize messages to convince people to hand over money. This approach has resulted in more than $5 billion in reported losses to investment scams. Job scams, where fraudsters pose as employers and request up-front payment for equipment, cost consumers approximately $750 million. Online shopping scams have resulted in losses over $16 million.