Scammers Using AI Deepfakes to Steal from Taxpayers

Experts call for national strategy to combat growing fraud threat

Published on Mar. 5, 2026

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Artificial intelligence-driven fraud has exacerbated the financial losses of unwitting victims, with the Federal Trade Commission estimating $196 billion in fraud losses in 2024. Experts say this issue will keep getting worse unless policymakers implement smart policies to prevent scams, including improving fraud reporting practices, establishing scam prevention as a national priority, and enhancing incentives and legal frameworks to empower an extensive private sector response.

Why it matters

Scams powered by AI deepfakes are a growing threat, with the potential to cause significant financial harm to consumers. Policymakers must act to develop a comprehensive national strategy to combat this issue and protect taxpayers.

The details

Artificial intelligence is being used by scammers to create deepfake videos and audio that can be used to impersonate government officials and steal money from unsuspecting victims. The Federal Trade Commission estimated $196 billion in fraud losses in 2024, and experts warn this problem will continue to worsen without intervention. To address this, experts are calling for policymakers to improve fraud reporting practices, make scam prevention a national priority, and enhance legal frameworks to empower the private sector to combat fraud.

  • The Federal Trade Commission estimated $196 billion in fraud losses in 2024.

The players

Kate Griffin

Director of inclusive financial systems at the Aspen Institute Financial Security Program.

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What they’re saying

“To protect consumers, we must develop a national strategy on fraud and scams that focuses on partnership between the public and private sectors. Policymakers can act by improving fraud reporting practices for law enforcement at all levels of government and consumers, establishing scam prevention as a national priority, and enhancing incentives and legal frameworks to empower an extensive private sector response.”

— Kate Griffin, Director of inclusive financial systems at the Aspen Institute Financial Security Program

What’s next

Policymakers are expected to consider new legislation and regulations to combat AI-powered scams and fraud in the coming months.

The takeaway

Scammers are increasingly using sophisticated AI technology to steal money from consumers, underscoring the urgent need for policymakers to develop a comprehensive national strategy to combat fraud and protect taxpayers.