Wells Fargo's fraud team has warned that generative AI has advanced online scams to a new level where even experienced professionals struggle to distinguish between legitimate and fraudulent emails. The team points out that criminals are using large language models to generate phishing emails, fake invoices, and deceptive text messages that pass every visual and grammatical test. The technology enables them to target more organizations simultaneously. Phishing reports increased by 466% in early 2025 compared to the previous year, largely due to AI-generated phishing kits. The volume of these attacks is growing at an alarming pace and the threat extends beyond email and phone calls. The bank warns that criminals use deepfake video and voice cloning to create convincing voice or video messages and emails, which can result in financial losses and reputational damage. The financial damage from AI-enhanced scams is not abstract or distant from everyday life. Nearly four out of five organizations were victims of attempted or actual payment fraud in 2024, up from 65% in 2022, according to the 2025 Association for Financial Professionals (AFP) Payments Fraud and Control Survey.