The New South Wales (NSW) government has introduced the Identity Protection and Recovery Bill, aiming to strengthen identity security amid rising cybercrime. The legislation includes real-time fraud detection, a compromised credential register, and enhanced public awareness initiatives, potentially leveraging advanced technologies like AI to protect residents' personal information.

A massive cybercrime operation based in Cambodia, allegedly linked to North Korean hackers, has used AI to defraud victims worldwide, siphoning billions through complex financial schemes. This report explores the scale of the fraud, the role of AI, and the international crackdown to counter this emerging threat.

The FBI’s 2024 Internet Crime Report highlights $16.6 billion in cybercrime losses—driven in part by the growing use of AI in phishing, extortion, and cryptocurrency scams. Elderly victims suffered the most, with $4.8 billion in reported losses. The FBI is leveraging AI tools to combat this evolving threat.

A Mandarin-speaking cybercriminal group, known as the Smishing Triad, has launched mass SMS-based phishing attacks across 121 countries. Using automation tools, phishing kits, and bulk messaging services, they impersonate banks and postal services to steal sensitive financial data. Institutions face mounting challenges as phishing incidents surge globally.