Scam losses across Asia estimated at US$136.5b in past year; experts warn of growing AI threat - CNA

The Global Anti-Scam Alliance (GASA) warned that governments and technology companies cannot tackle the growing threat alone, as criminal syndicates exploit cross-border operations and increasingly sophisticated technology to evade detection. Scam operations have dispersed from large compounds in countries like Cambodia to smaller groups operating in hotels and rented properties in the Middle East, Mexico and Eastern Europe, making them harder to detect and dismantle.

AI making scams harder to detect

Speaking at GASA's regional summit in Bangkok, Abraham warned that rapid advances in AI are making fraudulent messages increasingly convincing while allowing criminals to target potential victims on an unprecedented scale. Research shows AI-generated phishing emails and text messages are about five times more effective than those written by scammers themselves.

The entire scam process is becoming completely automated, from identifying potential victims and sending personalized messages to conducting conversations and directing targets to fraudulent websites. This means scams are not only unrecognizable but also personalized on a massive scale.

Phone calls most common scam channel

Despite the growing sophistication of online fraud, traditional phone calls remain the most common method used by scammers to reach potential victims across Asia. According to a GASA report, 56 per cent of respondents encountered scams through phone calls, followed by text messages at 50 per cent and instant messaging applications at 40 per cent. Shopping, investment and employment scams were the most common.

Even phone scams are evolving with AI-generated voices making them increasingly sophisticated, allowing criminals to impersonate company executives or even family members. Gogolook is using machine learning to identify suspicious calling patterns, helping detect potential scam numbers even as criminals frequently change them.

Tech firms urged to prioritise trust

Meta's security policy manager Rima Amin said the social media giant is stepping up efforts to detect and disrupt scam networks, including through greater cooperation with law enforcement. She pointed to a recent operation in which Meta removed 150,000 accounts while Thai police arrested 21 people suspected of involvement in scams.

However, fraudulent websites could remain active long after being blocked on social media platforms. Meta found that websites on its scam blocklist continued to exist for an average of three years, allowing them to circulate elsewhere. The company is sharing its blocklist with other platforms to better protect users across the entire ecosystem.