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AI scams to quadruple loss from email fraud

By Harrison —
AI scams to quadruple loss from email fraud
Data from the FBI, Deloitte

Scammers aren’t just sending clumsy phishing emails anymore — they’re using AI-generated messages, deepfake voice calls, and even cloned writing styles to fool businesses. That’s why email fraud isn’t just growing — it’s exploding, with losses projected to hit $11 billion by 2027.

The Data:

This visual draws from data published by the FBI’s Internet Crime Complaint Center (IC3) and Deloitte, illustrating the ballooning cost of Business Email Compromise (BEC) — a type of cybercrime where attackers infiltrate or impersonate corporate email accounts to deceive victims into transferring funds.

  • 2022 Global Losses: ~$2.7 billion
  • 2027 Projected Losses: ~$11 billion
    This marks a more than 300% increase in just five years — a signal flare for organizations to invest in stronger cybersecurity protocols.

📌 BEC is the #1 cybercrime in terms of financial impact.
According to the FBI, BEC has consistently outpaced ransomware and data breaches in terms of dollar losses.

🧠 Human error is the primary entry point.
Over 90% of BEC attacks begin with social engineering — attackers rely on trust, authority, and urgency to trick employees.

📈 Average BEC attack costs $125,000+.
Many individual attacks result in six-figure losses, especially when impersonating C-suite executives or vendors.

🌍 Every country is a target.
While the U.S. reports the most incidents, global businesses in finance, logistics, and real estate are also prime targets.

🔐 AI is making phishing worse.
With generative AI tools, scammers can now craft convincing emails at scale, making traditional red flags harder to spot.