Fraud losses are mounting across the U.S. as artificial intelligence fuels more sophisticated scams. Experian’s latest Identity and Fraud Report shows that nearly 60% of companies are reporting higher year-over-year fraud losses. The global data and technology company notes that identity theft, transactional payment fraud, account takeover, peer-to-peer payment scams and first-party fraud are the top fraud events witnessed in the last 12 months. Kathleen Peters, Chief Innovation Officer at Experian North America, says the pace of digital crime is overwhelming defenses. “With the widespread use of generative AI, fraud is evolving faster than many businesses can keep up with.”…
Author: Henry Kanapi
Henry Kanapi
Henry Kanapi is a journalist and editor covering the intersection of artificial intelligence, financial markets, and technology disruption. He has sourced, written, and edited thousands of stories on crypto, banking, and macroeconomics as Senior Editor at The Daily Hodl, where he helped shape coverage for an audience of over two million monthly readers. At CapitalAI Daily, Henry brings a decade of newsroom experience to fast-paced reporting on AI breakthroughs, market shifts, fraud cases, and regulatory battles. His focus is on accuracy, clarity, and exposing how money moves in the age of artificial intelligence. Henry’s work has been cited by leading financial outlets, investment firms, and research communities tracking the future of markets. He is committed to a high editorial standard rooted in transparency and trust.
A cybersecurity threat intelligence firm is warning that it has discovered the emergence of the first ransomware sample known to be powered by artificial intelligence (AI). In a new thread on X, Eset Research says it has uncovered PromptLock, a malware running OpenAI’s GPT-oss:20b model through the Ollama API. According to the security researchers, the malware generates Lua scripts that scan local files, exfiltrate data, and perform encryption across Windows, Linux, and macOS. “ESET Research has discovered the first known AI-powered ransomware, which we named PromptLock… Based on the detected user files, the malware may exfiltrate data, encrypt it, or…
The CEO of the most valuable company by market cap says that a new arms race in the tech industry is underway. In the company’s latest earnings call, Nvidia (NVDA) chief executive Jensen Huang says the largest cloud service providers or hyperscalers are making massive bets on artificial intelligence (AI). According to Huang, Amazon, Google, Meta, and Microsoft are sinking hundreds of billions of dollars per year into AI, fueling a new race in the tech industry. “As you know, the CapEx (capital expenditures) of just the top four hyperscalers has doubled in two years. As the AI revolution went…
Coinbase chief executive Brian Armstrong is warning that artificial intelligence (AI) deepfakes are reshaping the threat landscape for businesses, forcing companies to rethink how they verify employees and manage remote work. In a conversation with Stripe co-founder John Collison, Armstrong describes how AI-driven impersonation is creating new risks that go beyond technical systems and touch the workforce itself. He says the need for proof of physical presence is becoming unavoidable. “Proof of physical presence is going to become a bigger deal in a world of AI deepfakes, just higher stakes for all this kind of cybercrime and stuff, where in…
JPMorgan Chase is warning that overconfidence may be the single biggest vulnerability in the fight against artificial intelligence (AI) scams. In an interview with Investopedia, Darius Kingsley, head of consumer business practices at JPMorgan, says the problem isn’t awareness, but psychology. “The problem is nobody ever thinks they’ll fall for a scam. You’re trying to educate people who none of whom believe this is ever likely to happen to them.” Research shows that scams are already hitting the majority of Americans. A Pew Research Center study finds that 73% of U.S. adults have experienced an online scam or attack, with…
OpenAI CEO Sam Altman is warning that the artificial intelligence (AI) boom will wipe out fortunes as valuations spiral out of control. In an interview with The Verge, Altman compares the AI frenzy to the dot-com bubble witnessed in the 1990s, highlighting that it’s “insane” for three people with an idea to raise billions of dollars worth of investments. “If you look at most of the bubbles in history, like the tech bubble, there was a real thing. Tech was really important. The internet was a really big deal. People got overexcited… Someone is going to lose a phenomenal amount…
The chief executive of artificial intelligence startup Anthropic, Dario Amodei, is putting medicine at the center of the AI debate. In a recent interview with John Collison, Amodei says large language models (LLMs) already give better advice than nearly all doctors, citing Nobel Prize winners who share the view. The remarks come amid a wide-ranging discussion on how AI could reshape industries far beyond coding or customer service. Amodei agrees that healthcare is one of the clearest cases where society is “intelligence-limited.” “I have talked to Nobel Prize-winning biologists who say, I will only, I mean, it sounds a little…
The Federal Trade Commission (FTC) has gone to court to shut down a Delaware-based artificial intelligence (AI) firm it says misled entrepreneurs with false promises of fast profits and guaranteed refunds. The FTC says it is suing Air AI Technologies for luring small business owners to make big investments with deceptive claims about business growth, earnings potential, and refund guarantees. Air AI Technologies marketed its flagship “conversational AI” as a tool that could replace human staff and generate life-changing earnings. The company allegedly told small businesses they could earn back their investment many times over in just months. Instead, regulators…
Artificial intelligence (AI)-powered impersonation scams are already inflicting staggering losses, with fake CEOs and executives tricking employees into wiring millions of dollars in funds or sharing sensitive data. Losses from executive deepfakes topped $200 million in the first quarter alone, according to James Turgal, vice president of global cyber advisory at Optiv, the Wall Street Journal reports. Executive deepfakes use AI models trained on a leader’s voice and video, often pulled from interviews, earnings calls, or YouTube clips, to generate convincing live calls or recorded messages. Fraudsters pose as CEOs or CFOs, instructing staff to transfer money, share credentials, or…
Coinbase chief executive Brian Armstrong is taking an uncompromising approach to artificial intelligence, pushing the company to adopt artificial intelligence (AI) at a pace few other crypto or other fintech firms have attempted. In an interview with John Collison, the Coinbase CEO says the firm is moving aggressively to embed AI across its engineering ranks, with no patience for gradual rollouts or hesitant employees. Armstrong explains that leadership had floated a plan to phase in AI tools like Copilot and Cursor over several quarters, but he personally intervened to accelerate the timeline. What followed was a mandate that left no…