Scamming Becomes $422 Billion Business With AI Assistance
By PYMNTS
AI summary of the source article
Scamming operations are expanding with artificial intelligence assistance. According to data from the Global Anti-Scam Alliance, victims lost an estimated $442 billion across 42 countries last year, exceeding some valuations for the worldwide cocaine trade.
Key facts
- Global Anti-Scam Alliance data estimates scam victims lost $442 billion across 42 countries last year.
- The estimated scam losses exceed some valuations for the worldwide cocaine trade.
- Scamming is receiving an artificial intelligence-powered upgrade.
Source excerpt · PYMNTS
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 last year, more than some valuations for the worldwide cocaine trade. “It’s just gotten so cheap and so easy,” […] The post Scamming Becomes $4…