Our Scans · (FS.7.01) Fraud · Weekly Summary

• [New] (Sumsub) GenAI-enabled fraud losses in the U.S. could rise from $12.3 billion in 2023 to $40 billion by 2027. Bright Defense
• [New] Generative AI-enabled fraud losses in the U.S. could reach $40 billion by 2027. Bright Defense
• [New] Deepfake phishing will intensify in 2026 as attackers combine real-time media manipulation, automation, and scalable fraud services to bypass traditional controls. Bright Defense
• [New] The timing of the privacy drawback will only intensify scrutiny, as regulators globally ramp up pressure on social media firms over fraud and online harm. City AM
• [New] With FCA supervision extending to legal and accounting firms by 2029, Money Laundering Regulations amendments anticipated in late 2026, and the Failure to Prevent Fraud offence introducing criminal liability for directors in early 2027, the window for complacency is rapidly closing. FinTech Global
• [New] 61% of financial institutions expect the threat of fraud to grow in the coming year. DataVisor, Inc.
• [New] On the fraud front, 79% of U.S. businesses were hit by payments fraud last year, with losses from one category alone forecast to exceed $3 billion by 2028. Cashless: Fintech, CBDC and AI at the speed of Asia
• [New] Executives report an increase in risks across multiple areas, including cyber-enabled fraud, phishing, and supply chain disruptions. CIO
• [New] Fraud has become the defining threat of the digital age, and the UK Government has rightly recognised that meaningful progress in the fight against fraud requires effective partnership between states, law enforcement, regulators and the private sector. Mishcon de Reya LLP
• [New] The UK will deploy additional Border Force officers to Armenia and Sudan to advise on document-verification and fraudulent-passport detection. VisaHQ
• Generative AI could push U.S. fraud losses to $40 billion by 2027, up from $12.3 billion in 2023. TorchLight
• Generative AI fraud in the U.S. is expected to hit $40 billion by 2027, up from $12.3 billion in 2023, a compound annual growth rate of 32%. Bright Defense
• Taken together, the enforcement signals for 2026 are clear: Regulators will continue to pursue familiar fraud and abuse priorities, but with better data and more coordination across federal and state agencies. Medical Economics
• By 2026, the industry benchmark will transition from periodic reviews to real-time fraud detection and fully automated Suspicious Activity Report filing. Gemba
• Feedzai is an enterprise fraud platform, adopted by global banks and payment processors for real-time risk scoring and financial crime management. DataVisor, Inc.
• Agility remains one of the biggest challenges: most organizations still struggle to rapidly update fraud models, risk rules, or scoring logic when new attack patterns emerge. DataVisor, Inc.
• Nearly one in 10 (8%) of respondents say their organizations use agentic AI for fraud fighting, and nearly one-third more expect to deploy it by 2028 - the highest near-term adoption expectation of any emerging technology category examined. Security MEA
• More than half of respondents expect their organizations to increase their anti-fraud technology budgets over the next two years. Security MEA
• The parallel risk: generative AI-enabled fraud losses are projected at $40 billion in the US by 2027 - nearly 3.3×2023's $12.3 billion. BusinessStats
• Finance and banking fraud trends for 2026 are expected to include growing use of deepfakes and AI-generated documents that challenge the effectiveness of traditional identity verification systems. Sumsub

Last updated: 12 May 2026