Lower skilled cyber criminals are taking advantage of advances in artificial intelligence technology to create more sophisticated ways to scam people online, increasing numbers in the field, a leading fraud detection organisation is warning.
The warning comes as a Belfast conference was told reported fraud cases across the UK increased by 15% in the first six months of this year compared to the same period in 2023.
Fraud experts, representatives of industry, government agencies and police forces gathered on Tuesday for the annual Northern Ireland Fraud Forum’s Conference, with Justice Minister Naomi Long the main speaker.
In total, 214,882 cases were filed with the UK National Fraud Database in the first six months of the year, the conference heard.
Ms Long noted PSNI figures show that for the year to the end of March, there were 3,815 reports made to Action Fraud, resulting in £16 million in claimed losses. Nearly a quarter related to in relation to online shopping and auctions frauds.
However, Cifas, an economic crime non-profit which publishes the six-monthly Fraudscape report, is noting an increase in higher grade false documentation, including synthetic identities, and the growing threat of AI technologies.
“The increasing availability of fraud tool kits and AI platforms provide a route for lower skilled threat actors to create high quality spoofing of websites and wider brand impersonations which are known to offer high success rates and financial returns,” the report finds.
Uncertainty around the UK economy, continued pressures of the cost of living, conflict and political uncertainty were other drivers of the increase in fraud, according to the report.
The Belfast conference, hosted by the Hilton Hotel Belfast, was held in tandem with International Fraud Awareness Week,.
Bill McCluggage, chair of the NI Fraud Forum, said: “The rise of AI-driven scams, such as deepfake voice and video impersonations, has taken fraud to unprecedented levels, leaving individuals and businesses struggling to keep up.
“Fraudsters now wield AI to mimic voices and create hyper-realistic videos, tricking people into transferring money or divulging sensitive data.”