Suncorp says people remain the strongest defence against AI-driven cyber threats. Keith Howard noted AI makes attacks faster, more targeted and harder to spot. Suncorp warns scam messages and fake sites now closely resemble real communications. AI also helps organisations detect threats earlier and respond faster. Suncorp recommends multi-factor authentication, unique passphrases, updated software and privacy reviews. Australia’s Cyber Security Action Month promotes pausing before clicking links. Scamwatch recorded 91,767 reports and $156.6 million lost in H1 2026. ReportCyber logged 30,783 victims and $397.5 million lost in the same period. Total scam losses reached $554.1 million in six months. Reports fell 11% while losses rose 1%. Allianz ranks AI as Australia’s top business risk in 2026.
What changed
Scam reports were higher and losses were slightly lower in prior periods.
What it unlocks
Recognising AI-driven scams requires new human vigilance beyond familiar warning signs.
- $554.1 million scam losses in H1 2026
- 91,767 Scamwatch reports
- $156.6 million lost via Scamwatch
- 30,783 ReportCyber victims
Sources