AI in Fraud: The Digital Age Dilemma

The Competition Bureau Canada’s recent release (March 4, 2024) calls attention to the alarming rise of AI in fraud. In the past decade, Canadian fraud cases have soared from 79,000 to 150,000, a testament to fraudsters’ growing adeptness, aided by AI technology. AI is being exploited to craft convincing fake texts, emails, voice messages, and visuals, often impersonating reputable brands. Warning signs include realistic but unusual videos, odd communications, and fake corporate websites. The Bureau emphasizes the importance of vigilance and reporting suspicious activities. For more information, reach out to Kate Skipton at kskipton@retailcouncil.org.