AI and crypto fuel organised crime in Europe

Europol has released a report highlighting the role of artificial intelligence (AI) and cryptocurrency in enhancing the efficiency of organised crime across Europe.

The report emphasises how AI-driven automation and crypto tools are being used to facilitate scams, phishing, trafficking, and financial crimes.

AI's transformative qualities have made it an attractive tool for criminals, allowing them to craft messages in multiple languages and target victims more precisely.

Generative AI has lowered the barriers to entry for digital crimes, enabling the creation of malware and child sexual abuse material.

Additionally, AI-powered voice cloning and live video deepfakes are used to deceive victims, impersonate individuals, and blackmail targets.

Europol noted that AI's automation capabilities have transformed the efficiency of criminal operations, enabling large-scale cyberattacks through automated phishing campaigns.

The report also highlighted the use of blockchain-based technologies like cryptocurrency and non-fungible tokens (NFTs) in traditional crime areas such as drug trafficking and migrant smuggling.

"The future of European security is in our hands," Europol Executive Director Catherine De Bolle stated, emphasising the need for law enforcement to adapt to these emerging threats.

The report warns that the exploitation of digital assets has made it harder for authorities to recover ill-gotten gains, with confiscation rates stagnating at around 2%.

The increasing sophistication of AI and crypto technologies poses significant challenges for law enforcement, with potential future risks including AI-controlled criminal networks and the exploitation of advanced technologies like quantum computing.

"The emergence of fully autonomous AI could pave the way for entirely AI-controlled criminal networks, marking a new era in organised crime," Europol warned.