# Tech-Enabled Scams Rise

**Published:** 2026-05-14T07:00:00.000Z  
**Topic:** Crypto Scam  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/a948d9bc-c4cc-42d4-a550-2d76b6fdec41

The Department of Financial Protection and Innovation warns of growing tech-enabled scams, with over a trillion dollars lost to scams last year, and provides

The rapid advancement of technology has given fraudsters new tools to trick individuals into dishonest schemes, with consumers worldwide losing over a trillion dollars to scams last year [1]. A woman in France was duped out of $850,000 by a scammer using artificial-intelligence-generated images and recordings, highlighting the sophistication of modern scams [1]. As technology continues to evolve, so do the methods used by fraudsters to deceive unsuspecting victims.

**Key takeaways**
* Tech-enabled fraud includes identity theft, phishing, and social engineering techniques used by criminals to deceive victims [2].
* Common forms of tech-enabled scams include targeted scams, crypto scams, and romance scams [2].
* The Department of Financial Protection and Innovation provides tools to protect yourself from fraud, including a complaint submission process and resources for navigating crypto transactions [2].

## The Evolution of Scams
Scams are an age-old phenomenon, but advances in technology and AI have made it easier for fraudsters to create digital scams [1]. Scammers no longer need to be tech experts to run large-scale operations, as AI tools can quickly generate millions of highly convincing phishing emails, text messages, and fake websites [1]. The Global Anti-Scam Alliance is working to combat scams by bringing together government agencies, law enforcement, financial service providers, social media platforms, and cybersecurity firms to exchange knowledge and coordinate efforts [1].

## Combating Fraud
To combat tech-enabled scams, it is essential to stay ahead of the fraudsters and employ an agile, technology-driven approach [1]. The Department of Financial Protection and Innovation provides resources to help consumers navigate the complexities of crypto transactions and protect themselves from fraud [2]. Additionally, AI-powered solutions, such as those developed by Mastercard, can help identify and prevent scams by combining identity, biometric, AI, and open banking capabilities [1].

## Why it Matters
The rise of tech-enabled scams has significant implications for consumers, with older adults being particularly vulnerable to fraud [3]. The FBI reported that older adults lost over $7.5 billion to fraud last year, highlighting the need for urgent action to protect this demographic [3]. By staying informed and using the tools and resources available, consumers can reduce their risk of falling victim to tech-enabled scams and help combat the growing threat of cybercrime [2].

## Sources
1. Forbes — [Scams In The Digital Era: How Technology Is Changing Fraud](https://www.forbes.com/sites/mastercard/2025/03/18/scams-in-the-digital-era-how-technology-is-changing-fraud/)
2. Dfpi — [The New Era of Tech-Enabled Scams - DFPI - dfpi.ca.gov](https://dfpi.ca.gov/news/insights/the-new-era-of-tech-enabled-scams/)
3. Forbes — [Protecting Older Adults From Cyber Scams And Fraud: The Rise Of AI-Based Detection And Protection](https://www.forbes.com/councils/forbestechcouncil/2026/04/30/protecting-older-adults-from-cyber-scams-and-fraud-the-rise-of-ai-based-detection-and-protection/)

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Cite as: TrendWatcher, "Tech-Enabled Scams Rise", https://www.trendwatcher.in/article/a948d9bc-c4cc-42d4-a550-2d76b6fdec41