LONDON, May 4: International cybersecurity agencies and private security firms issued fresh warnings over a sharp rise in AI-generated scams targeting businesses and financial institutions.
According to cybersecurity experts, advanced artificial intelligence tools are increasingly being used to create realistic voice cloning, fake video calls, and sophisticated phishing emails capable of bypassing conventional security checks.
Several multinational companies reportedly suffered financial losses after employees were deceived by AI-generated impersonations of senior executives.
Financial Sector Under Pressure
Banks and fintech companies have strengthened digital verification systems after authorities observed growing misuse of generative AI technologies.
Security researchers warned that cybercriminal networks are now using machine learning systems to automate large-scale fraud operations, making detection more difficult.
Experts recommended multi-layer authentication systems, employee awareness training, and AI-based fraud detection tools to counter evolving cyber threats.
Technology regulators in Europe and Asia are also considering stricter compliance rules for companies developing advanced generative AI systems.