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AI Scams on the Rise: Deepfake Crimes Costing Millions

The same American-made miracle that powers life-saving research and industry is now being turned against us by criminals who don’t care who gets hurt. Deepfake audio and video are no longer sci-fi threats; industry trackers show documented deepfake incidents and huge financial losses that topped the hundreds of millions in recent reporting, proving this is a national security and economic problem, not a niche tech headache.

One shocking example came from a multinational engineering firm where a finance worker joined what looked like a routine video call and, convinced by cloned voices and convincing faces, wired roughly $25 million before realizing it was a fraud. This wasn’t a prank — it was a coordinated criminal operation that highlights how easily AI can hijack ordinary trust inside a company.

This plague of “vishing” and text-based scams is already hitting everyday Americans hard. Federal and academic briefings show that robocalls, smishing and voice-cloning scams have surged, costing consumers and businesses millions and forcing agencies like the FTC to run challenges and pilots just to catch up with the tech criminals.

Big technology companies and social platforms have been slow to accept responsibility while their tools are weaponized to steal retirement accounts and scare grandparents into wiring money. When the algorithm rewards engagement and ad dollars flow, criminals find fertile ground; we don’t need sermons about innovation, we need platforms that put safety and verification ahead of profit and attention-seeking chaos.

The FCC did the right thing by declaring AI-generated robocalls unlawful — a welcome, common-sense move that shows government can act when it chooses to protect citizens from obvious fraud. That rule is a good start, but rules are only effective if enforced vigorously and paired with real criminal prosecutions and cross-border cooperation to cut off the gangs running these operations.

Congress and state attorneys general must finish the job lawmakers began: pass meaningful, enforceable laws like the proposed protections debated in the Senate that would give victims stronger remedies and force platforms to take down unauthorized clones and deepfakes. Industry testimony has shown bipartisan momentum for measures that hold bad actors and enabling companies accountable — now conservatives in Washington should lean into protecting families and businesses, not ceding this fight to criminals and bureaucrats.

Americans must also meet this moment with common sense: verify requests by calling known numbers, insist on dual approvals for big transfers, and teach our parents and grandparents the warning signs of an emergency scam. This is a fight for the safety of our families and the integrity of our institutions — demand tougher enforcement, smarter corporate responsibility, and a stubborn refusal to let criminals weaponize the very technology that’s meant to make our lives better.

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