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Unveiling the Shadow Economy: Trends in Financial Fraud Across 80 Online Illicit Markets in 2023

Fri, Nov 15, 9:30 to 10:50am, Pacific J - 4th Level

Abstract

This study presents a comprehensive analysis of financial fraud trends in 2023, drawing insights from an extensive dataset collected across 80 online illicit markets. The proliferation of digital platforms has created new avenues for fraudulent activities, necessitating a deeper understanding of emerging trends to enhance detection and prevention strategies. Our findings reveal a notable surge in sophisticated fraud schemes and attacks leveraging advanced technologies such as AI-driven bots, deepfake techniques, and mail theft. These methods enable fraudsters to evade traditional security measures and perpetrate complex scams targeting financial institutions and individual consumers alike.

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