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Criminals ramp up social engineering and AI tactics to steal consumer details
Fraudsters have been sharpening their social engineering tactics and continued to exploit cost-of-living pressures, according to Cifas.
Cifas said the overall misuse of facility data covered several industries, highlighting the impact of the cost-of-living pressures and people attempting to avoid payments or financially gain from stealing assets. Stephen Dalton, director of intelligence for Cifas, said: “As our latest data shows, the impact of fraud and financial crime on people, companies and the public sector continues at epidemic levels. That means having effective cross-government leadership in response to fraud, enhancing victim support, providing critical counter-fraud insight to social media and big tech companies, and educating young people about the serious consequences of financial crime.
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