Kurt Knutsson Warns AI Scams Drove Nearly $21 Billion in Cybercrime Losses
Updated
Updated · Fox News · Sep 17
Kurt Knutsson Warns AI Scams Drove Nearly $21 Billion in Cybercrime Losses
1 articles · Updated · Fox News · Sep 17
Summary
Nearly $21 billion in cybercrime losses last year pushed Kurt Knutsson to warn that AI is making scams more convincing, with investment fraud alone costing victims $8.65 billion.
Spoofed bank calls are a central tactic: scammers can mimic a company’s caller ID, use personal details to create panic, and pressure victims into moving money or sharing security codes.
Knutsson’s advice is to avoid answering unexpected calls, contact banks or companies only through trusted numbers on cards, statements or official websites, and never provide codes or sensitive data.
AI voice cloning has widened the threat beyond banks, he said, urging families to set a private code phrase to verify loved ones and blunt impersonation scams.