AI-Driven Fraud Scams Cost US Consumers Thousands, TransUnion Finds

One in six Americans reported losing money to digital fraud over the past year, the credit union found.

A woman uses a smartphone in front of a laptop in Abidjan, on April 3, 2019. Issouf Sanogo/AFP via Getty Images

Criminals are increasingly exploiting artificial intelligence (AI) tools to target Americans with greater scale and sophistication, according to a new analysis.

In its analysis released on April 16, credit agency TransUnion found that one in six American consumers said they lost money to digital fraud over the past year through scams conducted by email, online platforms, phone calls, or text messages. The median reported loss was $2,307.