Bloomberg: AI supercharges a ~$442B scam economy

Bloomberg reports that AI is supercharging a scam economy worth about $442B, larger than the global cocaine trade. Chinese scam networks are spreading beyond fortified compounds in Asia, using Samsung, Huawei and Redmi devices.

• Scam economy estimated at ~$442B
• Larger than the global cocaine trade
• AI accelerates the scaling of scam operations
• Chinese networks expand beyond Asia