The U.S. Department of the Treasury’s Office of Cybersecurity and Critical Infrastructure Protection (OCCIP) has released its annual advisory warning consumers about a rise in cyber-enabled scams and online fraud during the holiday season. As more people shop and conduct transactions online, authorities report that losses from these scams now total tens of billions of dollars each year.
Scammers are increasingly using advanced technologies, such as artificial intelligence, to impersonate trusted individuals or businesses. These methods allow them to automate their outreach efforts and create fraudulent schemes that are more convincing and harder for victims to identify.
Cory Wilson, Deputy Assistant Secretary for OCCIP, stated: “As cyber-enabled fraud reaches unprecedented levels, the U.S. Department of the Treasury is urging consumers to be on high alert this holiday season. Scammers are exploiting digital platforms and emerging technology in increasingly sophisticated ways. Financial losses from fraud and scams are in the billions and underscore just how serious this threat has become. Treasury is committed to combating fraud, and consumers play a critical role as well. We encourage consumers to stay aware, question unexpected messages or offers, and take the simple protective steps outlined in this advisory. A few moments spent verifying information or consulting a trusted friend or family member can prevent significant harm and help all of us fight back against fraud.”
The OCCIP recommends that anyone who suspects they have been targeted by a scam should report it to the Federal Trade Commission at ReportFraud.ftc.gov or through the Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3).
