By the Numbers
Scams have become the fastest-growing form of financial crime. Here's why.
Scams don't break in. They talk their way in. A text, a phone call, a convincing email, or an AI-generated voice persuades a real person to hand over money or information willingly. That one shift explains why losses keep climbing, even as security improves everywhere else.
THE SCALE OF THE PROBLEM
The numbers keep breaking records
Reported scam losses have grown year over year across nearly every major market. The growth isn't limited to one channel or payment type. It shows up in consumer inboxes, business payment desks, marketplaces, and investment apps alike.
Reported U.S. cybercrime losses in 2024, up 33% year over year
FBI IC3 2024 Internet Crime Report
Lost to fraud by U.S. consumers in 2024, a 25% increase
FTC press release, March 2025
Estimated global losses to scams and bank fraud in a single year
Nasdaq Verafin Global Financial Crime Report
Of people who reported fraud lost money, up from 27% the year before
FTC press release, March 2025
Lost to imposter scams, where someone pretends to be a trusted business, agency, or person
FTC press release, March 2025
Of organizations experienced attempted or actual payments fraud
AFP Payments Fraud and Control Survey
Average reported loss for victims age 60 and older
FBI IC3 2024 Internet Crime Report
Projected U.S. fraud losses enabled by generative AI by 2027
Deloitte Center for Financial Services
THE PROBLEM
Scams exploit trust, and most defenses aren't built for that
Traditional security is designed to stop someone unauthorized
A stolen password, a hijacked account, a forged login. Scams sidestep all of it. The victim is the real account holder, using their real device and credentials, making a decision they believe is right.
That's why the usual answers fall short. Education helps, but it can't reach someone who has already been convinced.
Step-up authentication confirms the customer's identity, which was never in doubt. Manual review can catch a scam, but no fraud team can review its way through rising volume. And generative AI is making scams cheaper to run and harder to spot, from cloned voices to flawless phishing messages.
The gap is a moment: The one where a person decides to trust someone they shouldn't. That's where protection needs to work.
WHAT SCAMNETIC DOES
AI-based scam detection for everyone
Scamnetic uses AI to detect scams in real time, at the moment of decision, for the people and organizations most often targeted.
helps banks, credit unions, fintechs, and businesses confirm who's really behind a payment before money moves.
Together, they give institutions a way to protect customers at scale, cutting losses without adding friction to every interaction.