Fraud is no longer just about phishing emails or stolen passwords.
The era of autonomous AI-driven crime is here now.
The financial impact is staggering.
According to the FTC, consumers lost over $12.5 billion to fraud in 2024.
And now new data from Exper reveals that nearly 60% of the companies saw their fraud losses increase heading into 2025.
Just released its 2026 Future of fraud forecasts warning that bad actors are rapidly weaponizing AI to execute attacks that are scalable, highly sophisticated, and increasingly harder to detect.
Well joining me here at the New York Stock Exchange today is Kathleen Peters, Chief Innovation Officer of identity and fraud at Experian North America.
Kathleen, great to have you here.
Thank you so much for joining me.
Thank you, Rey.
It's a pleasure.
Here at the New York Stock Exchange we talk about artificial intelligence, but when it comes to fraud, give us an idea of how sophisticated the actual threat is.
So it's really interesting we've been issuing the forecast now for several years, and in 2026 what we're really seeing is this shift from human-created fraud to automated AI attacks, and that's really the difference now.
And speaking of which, what does that actually mean for enterprises, for corporations out there?
So there's a few different aspects to it.
So the first one is that with AI, these attacks are becoming more sophisticated.
So unfortunately we're all too familiar with receiving.
On our devices or emails that are fraudulent.
What we're seeing now is those are becoming more realistic.
They're more engaging and so users, consumers, individuals, our emotions are at play.
We're being sucked in and the engagement level is higher thanks to AI.
That's also being partnered with deep fakes, and this is something that businesses and enterprises need to be aware of.
In an effort to make it more realistic, we're starting to see images, voice, even full video.
Again, meant to create that trust and to lure users in before the fraud is perpetrated.
Kathleen, I'm glad you brought this up because with Agente AI as well as deepfakes, the consumer out there has a lot to deal with.
But what are some tips that you have for consumers as well as businesses?
So for consumers in particular, you need to be. wary of any type of unsolicited message, whether that's coming to your phone or coming to email.
If it's a number that you don't recognize, don't open any links, don't respond.
If someone really needs to get a hold of you, they'll leave a message and you can get back.
For businesses, you really need to look at your fraud and identity tools, how you've been approaching things.
So as AI has become more sophisticated in creation.
These attacks, businesses also need to use AI to also fight fire with fire and to be just as much on the forefront of technology to recognize the subtle hints of when this would be fraud versus a real human.
And in addition to offense, I think defense is key as well.
So what does that look like for enterprise for enterprise, it really means looking at a multi-layered approach.
So you.
Have tools, for example, when a consumer engages, when you first see them online in particular, think about different checks.
Think about ways to improve the technology that you're using so that you have a more sophisticated way to look for those telltale signs.
Now is a great time to review your stack, look for new capabilities, and for where you may need to tighten up some of those defenses.
And it's amazing how sophisticated some of these agentic AIs are becoming, and you mentioned emotion, and I think that is key because humans are emotional.
So sometimes if you're an employee, you're getting on boarded to join a new company.
There are different training programs, but with things moving so quickly, there's a lot that organizations need to keep up with.
So for companies.
That are listed here at the New York Stock Exchange and managing multinational employees.
What would you actually say to them right now?
So this is one of the forecast items that we have put out in our report this year is that HR teams, human resources in particular, need to be vigilant.
And so this means that you need to do some extra checks to make sure the person is who they say they are.
Some advanced tools to see if a deep fake or video tool is being used even in the live interview.
In fact, Gartner says that within 2 years there may be as many as 1 in 4 applications online that will be fake.
So it's a really good time to do those extra checks, verify who you're talking to, and take the extra time to do so.
And Kathleen, finally before.
I let you go on the flip side, there are also plenty of innovations that are positive.
So tell us a little bit about this and give us a sneak peek.
Yes, so we're really excited about what AI is bringing in terms of convenience for users in terms of businesses.
There's so much more that we can explore and study.
It's all about data and understanding each transaction that is presented to you when we.
Use these new AI tools.
They can always be on the lookout for us.
They can help us stop fraud.
They can do deeper checks.
And so these are real great opportunities for business and consumers.
It just means convenience, being able to search and find the things that we want faster.
Well, Kathleen, there are a lot of moving parts here, so thank you so much for simplifying it.
I appreciate your time and thank you so much for sharing all of your insights today.
Thanks so much, Remy.
It's great to be with you.
