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Generative AI is expected to be enhanced Online fraud and impersonation Cyberattacks in 2026, pushing fraud ahead of ransomware as the biggest cyber risk for businesses and consumers alike, according to a new warning from the World Economic Forum.
Nearly three-quarters (73%) are CEOs Surveyed by the World Economic Forum They said they or someone in their professional or personal network might be affected by online fraud in 2025. This shift has put executives’ fears at bay. Ransomwarewhich dominated enterprise threat lists just a year ago, and AI-driven scams that are easy to launch and difficult to detect.
“The challenge for leaders is no longer just to understand the threat, but to act collectively to overcome it,” said Jeremy Jurgens, Managing Director of the World Economic Forum. “Building meaningful cyber resilience will require coordinated actions across governments, businesses, and technology providers to protect trust and stability in a world increasingly reliant on artificial intelligence.”
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Consumers are feeling the impact too. Experian’s latest report It found that 68% of people now see identity theft as their top concern – ahead of stolen credit card data. This concern is supported by federal data. US Federal Trade Commission Recorded $12.5 billion in consumer fraud losses in 2024, an increase of 25% year over year.
Experts say generative AI is helping fuel this growth by making it easier to create scams and making them more convincing. The World Economic Forum report found that 62% of executives have encountered phishing attempts, including voice and text scams, while 37% reported billing or payment fraud. Nearly a third (32%) said they had witnessed cases of identity theft as well.
The increasing use of AI tools is lowering barriers for cybercriminals while increasing the sophistication of attacks. Fraudsters can now quickly locate messages, clone voices, and initiate realistic impersonation attempts that are difficult for victims to detect. The World Economic Forum also warns that generative AI is amplifying digital safety risks for groups such as children and women, who are increasingly targeted through impersonation and Abuse of synthetic images.
At the same time, many companies and organizations lack the personnel and expertise needed to defend against cyber threats. While AI can help, the report warns that poorly implemented tools can lead to new risks.
It’s not just companies facing more threats. In May 2025 simplified In a new report, the Consumer Federation of America warns that tools that generate highly personalized phishing emails, fake pings and realistic-looking alerts are stripping away many of the traditional red flags we once relied on to spot scams.
Read more: Meet the AI fraud busters: the deep-dive granny, the digital bot, and the YouTube star
For consumers, advice on how to better protect your privacy is straightforward but increasingly important.
The CFA urged consumers to slow down and be skeptical of unexpected calls, texts or emails that create a sense of urgency or pressure to act quickly. It advised against sharing personal, financial or authentication information in response to unsolicited communication and recommended independently verifying requests by searching official phone numbers or websites rather than trusting caller ID, links or contact details provided in the message. You should also consider reporting suspected fraud to authorities, such as the Federal Trade Commission ReportFraud.ftc.gov.
In general, experts continue to recommend staying alert about suspicious messages, Using strong and unique passwordsenable Multi-factor authentication And keep up with basic online security measures as AI-driven fraud evolves in 2026 and beyond.