1.jpg)
A new cross-industry survey from the Association of Certified Fraud Examiners (ACFE) and SAS reveals that artificial intelligence is fundamentally changing the landscape of deception. With AI, tasks that once took skilled fraudsters days now take seconds, leading to a rapid escalation of sophisticated threats like deepfake social engineering just ahead of International Fraud Awareness Week 2025.
77% of anti-fraud professionals report accelerated deepfake social engineering in the past two years.
83% anticipate a moderate to significant increase in AI-fueled fraud schemes soon.
AI blurs the line between truth and imitation, creating potent new threats for businesses and the public.
Fewer than 10% of anti-fraud professionals feel well-prepared for these AI-charged threats.
Industries are fighting back with AI-powered defenses in banking, insurance, and public benefits.
Real-world case studies show AI can improve detection accuracy by up to 99% and slash processing times.
The data signals a rapid rise in AI-fueled fraud that is escalating risks for both industry and the public. The vast majority of anti-fraud professionals are witnessing and anticipating a surge in sophisticated schemes, creating a critical preparedness gap.
John Gill, JD, President of the ACFE, stated: "Artificial intelligence has become one of the most powerful tools in business – and one of its most potent threats. Awareness is our best defense as new risks continue to evolve."
The report highlights how AI is reshaping both the scale of fraud and the tools needed to stop it. Organizations across various sectors are deploying advanced analytics and AI to outmaneuver these evolving threats, moving from reactive to proactive prevention.
Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions at SAS, said: "AI is blurring the boundary between truth and imitation, with untold billions at stake. Even as AI drives seemingly limitless progress, it tests the very limits of truth itself."
Global case studies demonstrate the successful application of AI in fraud prevention. BankID in Norway integrates identity signals with SAS analytics to anticipate fraud, resulting in smarter detection and fewer false positives. Ajman Bank in the UAE uses machine learning for real-time transaction monitoring, focusing investigator efforts on the highest-risk threats.
In South Korea, DB Insurance developed the nation's first AI-powered fraud detection network. A senior claims operations leader noted, "We turned it on, and just like that, dozens of cases lit up revealing invisible fraud connections." The result was a 99% improvement in detection accuracy and a processing time reduction from hours to minutes.
A large U.S. state strengthened its food assistance program integrity using SAS machine learning. A senior official reported, "We saw a 50% reduction in the processing time for our investigations, and we moved from a 12-month processing time down to six months."
The battle against fraud has entered a new era defined by AI. While the technology presents unprecedented challenges by enabling hyper-realistic deceptions like deepfakes, it also offers the most powerful defense. The future of security hinges on the widespread adoption and continuous evolution of these AI-powered tools to protect public and commercial trust.
SAS is a global leader in data and AI. With SAS software and industry-specific solutions, organizations transform data into trusted decisions. SAS gives you THE POWER TO KNOW®.
TechIntelPro empowers B2B technology decision-makers with the latest industry trends, deep insights, leadership perspectives and actionable intelligence to drive both organizational and professional milestones—and thrive on the tech pulse.