The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have published two factsheets designed to help consumers protect themselves from crypto and other online frauds and scams and explain how fraudsters increasingly use artificial intelligence (AI) to deceive consumers.
Fraud and scams are not new, but they have become much more sophisticated. Technologies like AI and blockchain make frauds and scams more convincing and harder to detect. The factsheets provide practical tips to help consumers recognise and avoid different types of frauds and scams.