Financial losses from scams hit £1.3bn a year as criminals turn to AI

Financial losses from scams in the UK have reached £1.3 billion annually, with nearly eight cases of fraud reported every minute, highlighting a significant rise in criminal activity as fraudsters increasingly utilize artificial intelligence.

This alarming trend underscores the urgent need for enhanced security measures and public awareness to combat the growing sophistication of scams, which pose a serious threat to individuals and the economy at large.