Cybercriminals are increasingly leveraging artificial intelligence (AI) technologies, including deepfake videos and AI-generated voice cloning, to conduct sophisticated scams. These scams involve creating highly convincing fake videos of celebrities and experts, as well as real-time deepfake video calls that enable impersonation across different genders, ages, and races. North Korean hackers have reportedly used AI tools to establish fake companies in the United States to deceive cryptocurrency developers and secure remote IT jobs. AI-powered facial recognition attacks are also on the rise, allowing scammers to bypass security measures and access crypto accounts. The use of AI in scams extends to identity theft, voice call cloning, and fraudulent transfer proofs, posing growing risks to consumers and businesses worldwide. Experts emphasize the importance of critical thinking and improved media literacy to counter these evolving threats. Emerging technologies are being developed to detect and mitigate AI-enabled fraud, but the rapid evolution of deepfake technology continues to challenge detection efforts. Governments and cybersecurity agencies have highlighted incidents such as data breaches and fake payment applications as examples of the dual-use nature of AI technology, underscoring the urgent need for enhanced consumer protection and awareness.