AI-driven digital fraud and identity theft surge globally

Cybercriminals are increasingly utilizing artificial intelligence to execute sophisticated digital fraud and identity theft. In Latin America, the identity verification platform Unico reported blocking US$3.5 billion in attempted fraud during the first half of 2026, a 23% increase from the previous year. Sophisticated attacks, including those using deepfakes, saw a 500% year-on-year growth.

New tactics involve automated AI bots making silent phone calls to profile victims. These bots analyze voice tones, accents, and demographics to identify high-priority targets for human operators. Furthermore, short voice samples can be used to create voice deepfakes for more convincing scams.

In response, companies are developing new defensive technologies. Incode launched TrustGraph, a cryptographic peer-to-peer network designed to help institutions share intelligence to intercept recurring fraud. Meanwhile, the startup Apate has deployed AI agents that intentionally engage with scammers to map their tactics and gather operational data, such as fraudulent bank accounts and websites, to provide real-time alerts to banks and telecommunications providers.