Scam losses across Asia estimated at US$136.5b in past year; experts warn of growing AI threat
The Global Anti-Scam Alliance warned that governments and companies cannot tackle the growing threat alone, as criminal syndicates exploit cross-border operations and increasingly advanced technology to evade detection.
The Global Anti-Scam Alliance (GASA) has warned that scammers are increasingly using artificial intelligence (AI) to automate fraud and target victims on a massive scale, leading to estimated losses from scams across Asia reaching US$136.5 billion over the past year. The alliance's managing director, Jorij Abraham, emphasized that governments and technology companies cannot tackle the growing threat alone, as criminal syndicates exploit cross-border operations and sophisticated technology to evade detection.
Abraham cautioned that AI-generated phishing emails and text messages are five times more effective than those written by scammers themselves, and the entire scam process is now being automated, making it harder to detect and dismantle criminal operations.
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