FBI Reports $262M in ATO Fraud as Researchers Cite Growing AI Phishing and Holiday Scams

The FBI has issued a warning about cybercriminals impersonating financial institutions to steal money and sensitive information for account takeover (ATO) fraud schemes. These fraudulent activities have resulted in losses exceeding $262 million and target individuals, businesses, and organizations across various sectors and sizes. The warning highlights the growing threat of AI-powered phishing attacks and holiday-themed scams that facilitate these ATO fraud operations.