How AI Is Fueling Fraud at an Unprecedented Pace

Egypt is the second most ransomware-targeted country in Africa, accounting for 13 percent of all cyberattacks on the continent. As of 2025, the nation loses an estimated USD 4 billion (EGP 207.52 billion) to cybercrime every year, according to Interpol's Africa Cyberthreat Assessment Report 2025. Such statistics might have seemed troubling before artificial intelligence (AI) entered the picture. Currently, with AI tools, scams are faster, cheaper, and nearly impossible to detect. The threat has entered a new phase, and most internet users have no idea what they are up against. AI-enabled fraud surged 1,210 percent in 2025, far outpacing the 195 percent growth in traditional fraud over the same period. The era of the obvious scams with misspelled emails or suspicious wire transfer requests is over. AI has quietly erased the telltale signs that once protected users, and the consequences are staggering. According to projections from the Deloitte Center for Financial Services, published in May 2024, generative AI-driven fraud losses in the U.S. alone are expected to grow from USD 12.3 billion (EGP 638.12 billion) in 2023 to USD 40 billion (EGP 2 trillion) by 2027. Cybercrime's global rise hitsContinue reading "How AI Is Fueling Fraud at an Unprecedented Pace" The post How AI Is Fueling Fraud at an Unprecedented Pace first appeared on Egyptian Streets.

Egyptianstreets Egyptianstreets · Wire Report · Wed, 24 Jun 2026 16:09:43 · 2 min read

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WIRE — Egypt is the second most ransomware-targeted country in Africa, accounting for 13 percent of all cyberattacks on the continent. As of 2025, the nation loses an estimated USD 4 billion (EGP 207.52 billion) to cybercrime every year, according to Interpol's Africa Cyberthreat Assessment Report 2025. Such statistics might have seemed troubling before artificial intelligence (AI) entered the picture. Currently, with AI tools, scams are faster, cheaper, and nearly impossible to detect. The threat has entered a new phase, and most internet users have no idea what they are up against. AI-enabled fraud surged 1,210 percent in 2025, far outpacing the 195 percent growth in traditional fraud over the same period. The era of the obvious scams with misspelled emails or suspicious wire transfer requests is over. AI has quietly erased the telltale signs that once protected users, and the consequences are staggering. According to projections from the Deloitte Center for Financial Services, published in May 2024, generative AI-driven fraud losses in the U.S. alone are expected to grow from USD 12.3 billion (EGP 638.12 billion) in 2023 to USD 40 billion (EGP 2 trillion) by 2027. Cybercrime's global rise hitsContinue reading "How AI Is Fueling Fraud at an Unprecedented Pace" The post How AI Is Fueling Fraud at an Unprecedented Pace first appeared on Egyptian Streets.

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