Over 52 % Indian cos saw increase in losses from AI fraud attacks in past year: Report

New Delhi, India March 19 (ANI): The advent of Artificial Intelligence (AI) has amplified fraud activities with over 52 per cent of companies in India seeing an increase in losses from fraud attacks in the past one year, according to the data and technology firm Experian.

The report observes that about 85 per cent of businesses in India agree that because of the GenAI the individual fraudsters have become a highly organised fraud syndicates.

The report by the firm says that GenAI has also enabled the “industrialisation of fraud,” where fraudsters create and deploy fake identities, deepfakes, and other fraud tactics on a large scale.