Scams are nothing new – fraud has existed as long as human greed. What changes are the tools.
Scammers thrive on exploiting vulnerable, uninformed users, and they adapt to whatever technologies or trends dominate the moment. In 2025, that means AI, cryptocurrencies and stolen personal data are their weapons of choice.
And, as always, the duty, fear and hope of their targets provide openings. Today, duty often means following instructions from bosses or co-workers, who scammers can impersonate. Fear is that a loved one, who scammers also can impersonate, is in danger. And hope is often for an investment scheme or job opportunity to pay off.
AI-powered scams and deepfakes
Artificial intelligence is no longer niche – it’s cheap, accessible and effective. While businesses use AI for advertising and customer support, scammers exploit the same tools to mimic reality, with disturbing precision.
Deepfake scams use high-tech tools and old-fashioned emotional manipulation.
Criminals are using AI-generated audio or video to impersonate CEOs, managers or even family members in distress. Employees have been tricked into transferring money or leaking sensitive data. Over 105,000 such deepfake attacks were recorded in the U.S. in 2024, costing more than US$200 million in the first quarter of 2025 alone. Victims often cannot distinguish synthetic voices or faces from real ones.
Fraudsters are also using emotional manipulation. The scammers make phone calls or send convincing AI-written texts posing as relatives or friends in distress. Elderly victims in particular fall prey when they believe a grandchild or other family member is in urgent trouble. The Federal Trade Commission has outlined how scammers use fake emergencies to pose as relatives.
Cryptocurrency scams
Crypto remains the Wild West of finance — fast, unregulated and ripe for exploitation.
Pump-and-dump scammers artificially inflate the price of a cryptocurrency through hype on social media to lure investors with promises of huge returns – the pump – and then sell off their holdings – the dump – leaving victims with worthless tokens.
Pig butchering is a hybrid of romance scams and crypto fraud. Scammers build trust over weeks or months before persuading victims to invest in fake crypto platforms. Once the scammers have extracted enough money from the victim, they vanish.
Pig-butchering scams lure people into fake online relationships, often with devastating consequences.
Scammers also use cryptocurrencies as a means of extracting money from people in impersonation scams and other forms of fraud. For example, scammers direct victims to bitcoin ATMs to deposit large sums of cash and convert it to the untraceable cryptocurrency as payment for fictitious fines.
Phishing, smishing, tech support and jobs
Old scams don’t die;…
