Artificial intelligence is rapidly changing the fraud landscape, with criminals using the technology to create more convincing scams that are costing Americans millions of dollars.
A new analysis by online broker comparison platform BrokerChooser found that AI-enabled fraud expanded sharply in 2025, with reported cases increasing at a much faster pace than conventional scams. The study estimates that AI-related fraud grew by 1,210% this year, compared with a 195% rise in traditional fraud. It also found that 12% of successful scams in 2025 involved AI or deepfake technology.
The growing threat has drawn increased attention from federal authorities. For the first time in its nearly 25-year history, the FBI’s latest Internet Crime Report included a dedicated section on AI-enabled fraud. During 2025, the agency received more than 22,000 complaints linked to AI scams, with reported financial losses reaching $890 million.
Investment scams emerged as the largest AI-related fraud category, generating 4,356 complaints and more than $632 million in losses. No other AI scam type came close in terms of financial impact.
Extortion followed with 1,764 complaints, while personal data breaches accounted for 1,204 cases. Other commonly reported AI-assisted crimes included phishing and spoofing, harassment and stalking, employment fraud, romance scams, non-payment schemes, tech support fraud and government impersonation.
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Although Business Email Compromise (BEC) generated fewer complaints than investment fraud, it ranked second in financial losses at more than $30.2 million. AI-assisted tech support scams caused nearly $19.5 million in losses, while AI-enabled romance scams resulted in more than $19 million in reported losses.
Among U.S. states, Wisconsin reported the highest concentration of AI-related fraud, recording 212 incidents for every one million residents, according to the analysis.
Washington, D.C., saw the highest average financial impact per case, with victims losing an average of $114,080 for each reported AI scam.
Adam Nasli, Head Broker Analyst at BrokerChooser, said AI has made it much easier for fraudsters to imitate legitimate financial institutions and investment firms.
“Investment scams account for over $632 million in AI-related losses, and that figure reflects how effectively fraudsters now impersonate legitimate brokers and trading platforms. AI makes it trivially easy to clone a broker’s branding, generate a convincing voice, or fabricate a compliance certificate. The key is to never use contact details provided by whoever reached out to you. Instead, look the firm up independently in the SEC or FINRA database and reach out through the official website, number, or address listed there. If those details don’t match what you were given, or you can’t find the firm at all, you’re almost certainly dealing with a scam.”
The report noted that scams built around trust and authority continue to inflict the greatest financial damage. Criminals are increasingly using AI to imitate company representatives, customer support agents and financial professionals, making fraudulent communications harder to detect.
It also warned that romance scams are becoming more sophisticated as AI enables scammers to create realistic fake identities, maintain convincing conversations and manipulate victims into sending money.