The Better Business Bureau (BBB) has issued a stark warning: identity theft is evolving — and the combination of artificial intelligence and the dark web is making it faster, smarter, and more dangerous than ever.
In a new study released this week, the BBB highlighted how cybercriminals are increasingly leveraging AI-powered tools to mine, filter, and weaponize massive volumes of leaked personal data found on underground markets.
“Criminals now treat stolen identities like digital commodities,” said Mary O’Sullivan-Andersen, CEO of BBB for Southern Alberta and East Kootenay. “Social insurance numbers, bank account details, and even biometric data are auctioned off to the highest bidder on the dark web.”
According to the BBB, AI is being used to sift through hundreds of thousands of breached records in real-time — identifying “high-value” targets based on leaked credentials, email accounts, and unique identifiers. These details are then packaged and sold to organized crime rings for use in credit fraud, mortgage scams, personal loan theft, and more.
Studies cited in the report estimate that AI-powered identity fraud scams contributed to over $12 billion in losses in 2023 alone — and the number is expected to grow as both tools and tactics become more accessible.
The BBB says it has launched new consumer education efforts and resources in response, urging individuals to treat their personal information like gold and stay informed on the evolving threat landscape.
source: ctvnews.ca
