Cybercrime losses reached nearly $21 billion last year, with investment fraud alone costing victims $8.65 billion, according to FBI data highlighted by Kurt Knutsson on 'Fox & Friends Weekend' [1]. Knutsson warned of increasingly sophisticated AI scams and emphasized the growing threat of new-account fraud, which is harder to detect than traditional identity theft. Javelin Strategy & Research reported that the number of new-account fraud victims jumped 31% in 2025, rising from 4.2 million to 5.4 million—the sharpest increase among tracked fraud types [1].
New-account fraud involves criminals using personal information such as name, Social Security number, and birthdate to open new accounts in victims' names, including credit cards, phone, utility, or buy now, pay later accounts. This type of fraud often goes unnoticed until a strange bill arrives, a lender checks credit, or a debt collector calls, making it particularly insidious [1]. Six in ten identity crimes now begin with a new account, underscoring the prevalence and stealth of this method [1].
Knutsson is hosting a free live class to teach families how to protect their money and secure accounts, offering practical advice on identifying and preventing new-account fraud. The article stresses the importance of vigilance and proactive monitoring to catch fraudulent activity before it escalates [1].
No forward-looking statements or analyst opinions regarding market reactions or specific companies were provided in the article [1].
CONCLUSION
Cybercrime and new-account fraud are rising sharply, with losses and victim counts reaching record highs. The market takeaway is a heightened need for consumer vigilance and improved security measures, as the threat of sophisticated AI-driven scams continues to grow.