Fraudsters using Facebook marketplace to scam consumers  

Advancements in AI and automation are expected to rapidly further boost online fraud

Online fraud schemes are now one of the most rapidly expanding sectors in organised crime, targeting a broad spectrum of victims, EU law enforcement agency Europol warned. File picture

Criminals are now targeting community pages on social media platforms such as Facebook, pretending to sell items at knockdown prices.

One victim of this online fraud told the Irish Examiner that she was targeted when she enquired about furniture being sold cheaply on her local community Facebook page.

Screenshots sent to the victim looked convincingly like it was a neighbour trying to offload furniture that was no longer needed.

She paid a deposit on Revolut for the furniture and delivery and was asked to send a PDF of the Revolut transfer. But the furniture never arrived and the 'seller' ignored all further contact.

Online fraud schemes are now one of the most rapidly expanding sectors in organised crime, targeting a broad spectrum of victims, EU law enforcement agency Europol warned.

Advancements in artificial intelligence (AI) and automation are expected to rapidly further boost online fraud, which has already reached an unprecedented magnitude, Europol said.

And as online fraud proliferates, it is becoming increasingly challenging to detect, as online fraud schemes tend to be long-lasting, tailor-made and highly sophisticated.

“The theft of personal data from payment systems is a big concern. Data is exploited directly or sold to other criminal actors, resulting in repeated victimisation of targets," a new Europol report said.

Some fraudsters display a high level of expertise and continually develop their techniques, with future risks amplified by the attackers' adaptability. 

"The online fraud threat landscape features a well-organised and sophisticated criminal industry that not only targets victims, but also offers professional services to criminals. 

"Fraudsters leverage advanced technologies, human behaviour, and gaps in legislation."

And technological advancements have also triggered a rapid evolution in online child sexual exploitation (CSE). 

"It has provided borderless end-to-end encrypted platforms for offenders to create, store and exchange child sexual abuse material (CSAM), and to contact and groom victims," Europol warned. 

"The accessibility of AI tools has transformed the CSE landscape. 

"These tools can be used to edit existing material or create new content, for example, making adults look younger in explicit images or turning non-explicit images into nude ones."