Cybercrime to become world's 3rd largest economy: Mastercard CEO

Mastercard CEO Michael Miebach warned that global cybercrime will reach $15.6 trillion by 2030, making it the world's third-largest economy, and highlighted the generative AI arms race between fraudsters and banks as well as risks of AI agents managing finances.

Mastercard CEO Michael Miebach warns Yahoo Finance Executive Editor Brian Sozzi https://finance.yahoo.com/author/brian-sozzi/ that global cybercrime will reach $15.6 trillion by 2030, making it the world's third-largest economy. He breaks down the generative AI "arms race" between fraudsters and banks, and explains the hidden risks of letting AI agents manage your purchases and money.