Since 2024, cybercrime-related losses have more than doubled from $192 million to $484 million, driven primarily by AI-facilitated scams, credential harvesting, and automated social engineering campaigns. AI is automating every stage of a cyberattack from reconnaissance and phishing to extortion and evasion,” said Neal Jetton, director of INTERPOL’s cybercrime unit. The 40-page “African Cyberthreat Assessment Report 2026,” analyzed cybercrime trends between January and December 2025 based on survey data from 26 African member countries. The report also revealed that criminals are bypassing advanced bank security systems by using AI to create entirely “synthetic identities.” Despite the growing threat, progress in combating cybercrime is underway, with 17 countries enacting or amending cybercrime legislation.