Cyber fraud is constantly evolving, with new sophisticated tactics emerging all the time.

However, based on recent trends and current reports (including those into 2025), several forms consistently dominate the landscape in terms of prevalence and financial impact.

Here are the most common forms of cyber fraud today:

1. Phishing (including Spear Phishing, Smishing, Vishing, Quishing, BEC):

   • What it is: The use of deceptive communications (emails, text messages, phone calls, QR codes) designed to trick individuals into revealing sensitive information (login credentials, financial details, personal data) or performing actions (clicking malicious links, downloading malware, making payments). It's the most common initial attack vector for many other forms of cyber fraud and attacks.

   • Why it's common: It preys on human psychology (social engineering) rather than technical vulnerabilities, making it highly effective. It's cheap to execute and can be automated to target millions.

   • Current Trends:

     • AI-powered phishing: Generative AI is making phishing emails and messages more convincing, grammatically correct, and personalized, making them harder to detect. Deepfake voices in vishing (voice phishing) are also on the rise.

     • QR Code Phishing (Quishing): Attackers are embedding malicious QR codes in physical and digital spaces to direct victims to fake websites.

     • Mobile Phishing: Users are more likely to fall for phishing on mobile devices due to smaller screens obscuring URLs and frequent use of app-based communications.

     • Credential Phishing: Aims to steal login details, especially for cloud services like Microsoft 365 and Google Workspace.

     • Ransomware Delivery: Phishing remains the primary delivery mechanism for ransomware.

2. Business Email Compromise (BEC) / CEO Fraud:

   • What it is: A highly targeted and sophisticated form of phishing where cybercriminals impersonate a high-ranking executive (like the CEO or CFO) or a trusted vendor to trick an employee into making unauthorized wire transfers, diverting payroll, or sharing sensitive company information.

   • Why it's common: It doesn't typically involve malware, making it harder for traditional security filters to detect. It relies heavily on social engineering and detailed reconnaissance.

   • Current Trends:

     • Increasingly Lucrative: Continues to be one of the most financially damaging cyber threats for businesses, with average losses often in the hundreds of thousands of dollars.

     • AI Enhancement: AI is being used to make BEC lures even more convincing and personalized.

     • Vendor Email Compromise (VEC): A growing trend where attackers compromise the email accounts of third-party vendors to insert fraudulent payment instructions into legitimate conversations.

     • Gift Card Scams & Advance-Fee Fraud: Common BEC tactics involve requesting gift card purchases or advance fees.

3. Identity Theft:

   • What it is: The illicit acquisition and misuse of a person's private identifying information (PII) such as Social Security numbers, banking details, passwords, driver's license numbers, or medical information, often for financial gain (e.g., opening new accounts, making fraudulent purchases, filing fake tax returns).

   • Why it's common: Often a downstream effect of data breaches, phishing, or malware. The stolen data is highly valuable on the dark web.

   • Current Trends:

     • Impersonation Scams: A significant rise in scams where criminals impersonate businesses or financial institutions to trick victims into providing PII.

     • Account Takeovers (ATO): A growing trend where criminals gain unauthorized access to existing accounts (banking, social media, e-commerce, payment apps) using stolen credentials, leading to fraudulent transactions.

     • Synthetic Identity Fraud: Fraudsters use a combination of real and fake information to create new, fraudulent identities that can bypass traditional verification methods.

     • AI Facilitation: AI makes it easier for thieves to create convincing personas and craft coercive messages to obtain identity credentials.

4. Online Shopping Scams:

   • What it is: Deceptive practices related to online purchases, including fake e-commerce websites, non-delivery of purchased goods, selling counterfeit products, or manipulating existing online marketplaces.

   • Why it's common: Exploits the massive growth of e-commerce, especially during holiday seasons.

   • Current Trends:

     • Fake Websites and Social Media Ads: Scammers create convincing fake stores and promote them heavily on social media with "too good to be true" offers.

     • Refund/Chargeback Fraud: Abusing return policies to claim illegitimate refunds, and "friendly fraud" where legitimate customers falsely dispute charges.

     • Package Tracking Scams: Fraudulent messages impersonating delivery companies, tricking users into paying fake "fees" or clicking malicious links.

5. Cryptocurrency Fraud and Investment Scams:

   • What it is: A broad category encompassing various scams that exploit the popularity and complexity of cryptocurrencies, including fake investment platforms, "rug pulls" (developers abandoning a crypto project and running off with investors' funds), bogus initial coin offerings (ICOs), and scams promising unrealistic returns.

   • Why it's common: The unregulated nature of much of the crypto market, coupled with high volatility and general lack of user understanding, makes it ripe for exploitation.

   • Current Trends:

     • Pig Butchering Scams: A particularly devastating type of investment fraud where scammers build long-term relationships (often romance-based) with victims, convincing them to invest in fake cryptocurrency platforms, eventually stealing all their funds.

     • Deepfake and AI Promotion: AI-generated videos and voices are used to promote fake crypto projects or impersonate financial advisors.

     • Exchange Hacks and Personal Wallet Compromises: Significant amounts of cryptocurrency are stolen directly from exchanges or individual wallets due to security breaches or phishing.

These forms of cyber fraud are often interconnected; for instance, phishing is a common precursor to identity theft, BEC, and even cryptocurrency scams. The increasing use of AI by fraudsters is amplifying the sophistication and effectiveness of all these types of scams.