Tag: Confidence trick

AICybersecurityTechnology

AI Voice Cloning Fuels $16.6B Social Engineering Crisis

Social engineering attacks powered by artificial intelligence are driving unprecedented financial losses, with the FBI reporting $16.6 billion in cybercrime damages last year. Voice cloning technology now makes synthetic calls indistinguishable from genuine ones, enabling sophisticated vishing scams that bypass traditional security measures.

The Human Firewall Under AI Assault

Cybercriminals are weaponizing artificial intelligence to scale social engineering attacks with frightening efficiency, according to recent industry analyses. The FBI’s 2024 Internet Crime Report reveals the staggering impact: $16.6 billion in losses from nearly 860,000 complaints, representing a 33% surge from the previous year. What’s particularly alarming security experts is how phishing and spoofing dominated the crime landscape with over 193,000 incidents.

by Michael Turner
BusinessCybersecurityTechnology

UK Investment Scams Surge 55% as APP Fraud Losses Hit £257 Million

Losses from authorized push payment fraud in the UK climbed 12% year-over-year to reach £257.5 million in the first half of 2025, according to new industry data. Investment scams drove the increase with a staggering 55% jump in losses, while romance fraud saw a 35% surge. The findings highlight growing challenges in combating sophisticated social engineering tactics.

Investment Fraud Leads Alarming APP Surge

British consumers are falling victim to increasingly sophisticated investment scams at an alarming rate, with new industry data revealing a 55% surge in losses from these schemes. According to analysis from UK Finance, the financial services trade association, investment fraud accounted for £97.7 million in losses during the first half of 2025 alone.

by Jessica Moore P.E.
CybersecuritySoftwareTechnology

Tinder Implements Mandatory Facial Verification in US to Combat Fraud and Restore Platform Trust

Tinder has launched mandatory facial verification for all new US users in an effort to combat bots, scammers, and fake profiles. The Face Check feature requires video selfies for verification but retains encrypted biometric data, creating privacy considerations alongside safety improvements.

Tinder’s New Verification Mandate

In a significant move to address platform security concerns, Tinder has reportedly implemented mandatory facial verification for all new users in the United States. According to reports, the dating app giant is rolling out its “Face Check” feature as part of a broader initiative to combat bots, scammers, and fake profiles that have plagued the platform. Sources indicate this represents one of the most substantial verification upgrades in the company’s history, coming amid a 7% decline in paying users revealed in recent earnings reports.

by Jessica Moore P.E.
BusinessSecurity

Investment Scam Operators Exploit Online Review Platforms Through Fabricated Ratings

Suspected fraudulent investment companies are systematically manipulating online review systems to appear legitimate, according to new findings. Verification experts discovered networks of fake reviewers, forged certificates, and stolen corporate identities being used to lure victims through platforms like Trustpilot.

Scam Investment Firms Manipulating Review Systems

Suspected fraudulent investment operations are systematically exploiting Trustpilot’s review platform by generating fabricated five-star ratings to convince potential investors of their legitimacy, according to reports from verification specialists. The investigation by KwikChex uncovered sophisticated tactics including fake reviews, forged certification documents, and stolen corporate identities being deployed to create false credibility.

by Jessica Moore P.E.