Crime · Fraud & Scams

All Fraud & Scams Deepfake Abuse Policing & Surveillance Cybercrime

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Evidence-backed problem

Deepfake Anthony Albanese used in celebrity scams duping Australians out of $7.4m, Asic warns

There has been a steep rise in scammers luring victims into phoney investment opportunities using deepfakes of celebrities and politicians, Australia’s corporate watchdog has warned. And Anthony Albanese is the figure most commonly co-opted. Real footage of the prime minister, overlaid with fake audio promising Australians can invest $4,000 to earn $40,000 a month, appears in one video online. “This is not just another scam product,” the deepfake Albanese says, falsely describing it as an “official platform” wit…

The Guardian · Crime

Deepfake Anthony Albanese used in celebrity scams duping Australians out of $7.4m, Asic warns

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Applications of AI-Based Models for Online Fraud Detection and Analysis

Abstract Background Fraud is a prevalent offence that extends beyond financial loss, impacting victims emotionally, psychologically, and physically. Advances in online communication technologies continue to create new opportunities for fraud, and fraudsters increasingly using these channels for deception. With the progression of technologies like Generative Artificial Intelligence (GenAI), there is a growing concern that fraud will increase in scale using these advanced methods, with offenders employing deep-fak…

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Next-Generation Machine Learning in Healthcare Fraud Detection: Current Trends, Challenges, and Future Research Directions

The growing complexity and size of healthcare systems have rendered fraud detection increasingly challenging; however, the current literature lacks a holistic view of the latest machine learning (ML) techniques with practical implementation concerns. The present study addresses this gap by highlighting the importance of machine learning (ML) in preventing and mitigating healthcare fraud, evaluating recent advancements, investigating implementation barriers, and exploring future research dimensions. To further ad…

Crime

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An Introduction to Machine Learning Methods for Fraud Detection

Financial fraud represents a critical global challenge with substantial economic and social consequences. This comprehensive review synthesizes the current knowledge on machine learning approaches for financial fraud detection, examining their effectiveness across diverse fraud scenarios. We analyze various fraud types, including credit card fraud, financial statement fraud, insurance fraud, and money laundering, along with their specific detection challenges. The review outlines supervised, unsupervised, and hy…

Crime

Evidence-backed problem

AI-driven financial fraud: key risks and legal protections for financial institutions

Abstract Artificial intelligence (AI) has become integral to financial institutions operations. Implementing AI allowed significant improvement in service quality and enabled innovative customer solutions. At the same time, with all the advantages and positive aspects of using AI, it also creates additional risks, depending on who and for what it is used. In the hands of fraudsters, AI becomes a tool with which financial institutions and their clients are causing significant damage, and not only financial. At th…

Crime

Evidence-backed gain

Financial fraud detection through the application of machine learning techniques: a literature review

Financial fraud negatively impacts organizational administrative processes, particularly affecting owners and/or investors seeking to maximize their profits. Addressing this issue, this study presents a literature review on financial fraud detection through machine learning techniques. The PRISMA and Kitchenham methods were applied, and 104 articles published between 2012 and 2023 were examined. These articles were selected based on predefined inclusion and exclusion criteria and were obtained from databases suc…

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<b>NEURAL NETWORKS FOR REAL-TIME FINANCIAL FRAUD DETECTION</b>

The accelerating digitalization of financial services has transformed fraud into a systemic global threat, with annual losses estimated at $485.6 billion in 2023 alone — losses that conventional rule-based and statistical detection methods have proven structurally incapable of containing. This article presents a narrative literature review examining how neural network architectures are redefining real-time fraud detection in financial systems. The review covers the theoretical and epistemological foundations of…

Crime

Investment fraud in UK soared to more than £220m lost last year, trade body says

Increasingly elaborate investment scams involving gold, cryptocurrencies and wine have soared in the past year with more than £220m lost to the fraud, according to a report. UK banks reported almost 15,000 investment scams in 2025 as criminals use artificial intelligence to dupe people out of their money. About £221.5m was lost to scams in which people were persuaded to move their money to a fake investment or a fictitious fund, a rise of 40% from the year before, according to the report from UK Finance. This parti

Crime

Investment fraud in UK soared to more than £220m lost last year, trade body says

AI scams drove UK reports of fraud to record 444,000 last year

Criminals are increasingly exploiting AI technology to take over people’s mobile, banking and online shopping accounts, the UK’s leading anti-fraud body has warned. Last year, a record number of scams were reported to the national fraud database, fuelled by AI, which allows for large-scale deception on “industrialised” levels, according to Cifas, the fraud prevention organisation. Its report showed 444,000 cases of fraud were reported by its members last year – a 6% increase on 2024. The tactics of criminals are sh

Crime

AI scams drove UK reports of fraud to record 444,000 last year

AI chatbot fraud: the ‘gift card’ subcription that may cost you dear

David Duggan* was so impressed with the ability of the Claude chatbot to answer medical questions and organise family life, that a $20-a-month (£15) subscription seemed like money well spent. But then his wife spotted two $200 payments on his credit card bill for gift cards to use the artificial intelligence tool. Duggan, who lives on the east coast of the US, had not bought them, and immediately realised something was wrong. “My wife asked me: ‘Hey, did you make these $200 purchases?’ It was $400 in total. And the

Crime

AI chatbot fraud: the ‘gift card’ subcription that may cost you dear

Tennessee grandmother jailed after AI facial recognition error links her to fraud

Angela Lipps spent nearly six months in jail after AI software linked her to a North Dakota bank fraud case

Crime

Tennessee grandmother jailed after AI facial recognition error links her to fraud