Cybercriminals try to cash in with sophisticated tax scams
It's that time again, as we approach the end of the tax year scammers are seeking to cash in with a raft of phishing emails, deepfake phone calls, and fake tax prep websites.
New research from McAfee shows 23 percent of Americans say they or someone they know has lost money to a tax scam and 61 percent of victims have lost more than $1,000.
Americans lose millions of dollars to online tax scams, McAfee study reveals
As tax season reaches its peak, a new study by McAfee sheds light on the alarming rise of online tax scams in the US. The 2024 Tax Scams Study, which surveyed 2,500 American adults, reveals that a staggering 25% have fallen victim to these scams, with losses running into thousands and even tens of thousands of dollars.
The study highlights the growing sophistication of cybercriminals who are now leveraging artificial intelligence to craft more convincing scams. AI-powered messages, deepfake videos, and AI-generated audio are becoming increasingly common tools in the scammer's arsenal. Despite these advancements, the study found that less than half of Americans feel confident in their ability to spot such fraudulent content.