The nature of modern fraud is almost unrecognisable to the prior tactics, patterns, and behaviours that surfaced during the online boom. Bad actors are no longer ‘trying their luck’ with unsophisticated attempts; instead, fraud is driven by mass organised crime networks that are highly sophisticated, coordinated, and operate at scale.
At the same time, the rapid development of AI has increased the volume of fraud. Organisations now face around-the-clock threats across every channel. This comes at a point when fraud education and awareness are at their highest, driven by public interest in AI-created threats, like deep fakes. Attacks are now likely to be highly personalised, catching unwitting employees off guard, and causing confusion and business vulnerability.
In this environment, everyone is at risk. Legacy protection tools are not enough. Businesses need to be proactive in the…
These frauds exploit emotional vulnerability and trust rather than technical weaknesses.
- Romance Scams: Scammers build long-term online relationships with victims, eventually fabricating a “crisis” (medical emergency, legal trouble, or travel costs) that requires the victim to send money.
- Pig Butchering: A hybrid scam where the criminal builds a romantic or platonic relationship to eventually “tutor” the victim in a fraudulent cryptocurrency investment.