THE HAGUE: Artificial intelligence is turbocharging organized crime, from creating child sexual abuse images to money laundering via cryptocurrency, Europol warned Tuesday, with advances like quantum computing only poised to make things worse.
Europol Executive Director Catherine De Bolle described the report as a “wake-up call” for law enforcement, telling top officers from around Europe that “the future of European security is in our hands.”
“This is a fight of the rule of law, for our communities, for our businesses, and for the future of our children. We will not let organized crime dictate the rules of the game,” she said.
In its report laying out the threats posed by organized crime, the European police organization said criminals had seized on the opportunities offered by AI as a “catalyst” to accelerate their activities.
“Rapid technological advancements — especially in artificial intelligence (AI) — are reshaping how crime is organized, executed, and concealed,” Europol said in a detailed 80-page “threat assessment” report.
“These shifts are making organized crime more dangerous, posing an unprecedented challenge to security across the EU and its member states,” the police added.
The use of AI and other technologies are helping criminals across the whole of their portfolio — from drug and human trafficking, to cybercrime and identity theft.
Generative AI enables criminal gangs to hit their targets more globally across multiple languages and even generate child sexual abuse images, the police report warned.
“Explicit pictures of adults can be manipulated to make the individual look younger or applications can ‘nudify’ non-explicit images,” the report said.
“The very qualities that make AI revolutionary — accessibility, versatility, and sophistication — have made it an attractive tool for criminals,” noted Europol.
Technology is also making it harder for authorities to recover ill-gotten gains.
Confiscation of proceeds from crime has stagnated at around two percent, the police said, with the challenge “further exacerbated by the increasing criminal exploitation of digital assets.”
Criminal groups are using cryptocurrency to launder money and move funds around, making it hard to track and eventually confiscate.
“The criminal exploitation of cryptocurrency as a payment method now has moved beyond the scope of cybercrime, and is encountered increasingly in more traditional crime areas such as drug trafficking or migrant smuggling.”
As technology improves, the boost to criminal activity is only likely to increase, according to Europol, noting the rapid developments in quantum computing, the metaverse, 6G, unmanned systems and brain-computer interfaces.
“The high levels of anonymity, speed, and sophistication currently demonstrated by criminal networks will only likely increase over the coming years,” cautioned the report.
Quantum computing in particular will enable criminals to crack current encryption technology with ease.
Finally, the police raised the dystopian prospect of criminal gangs run entirely by AI.
“The emergence of fully autonomous AI could pave the way for entirely AI-controlled criminal networks, marking a new era in organized crime,” said the report.
AI ‘reshaping’ organized crime, warns Europol
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AI ‘reshaping’ organized crime, warns Europol
- Europol Executive Director Catherine De Bolle described the report as a “wake-up call” for law enforcement
- “We will not let organized crime dictate the rules of the game,” she said
Trump calls for one year cap on credit card interest rates at 10 percent
- Trump says Americans have been ‘ripped off’ by credit card companies
- Lawmakers from both parties have raised concerns about rates
WASHINGTON: US President Donald Trump said on Friday he was calling for a one-year cap on credit card interest rates at 10 percent starting on January 20 but he did not provide details on how his plan will come to fruition or how he planned to make companies comply.
Trump also made the pledge during the campaign for the 2024 election that he won but analysts dismissed it at the time saying that such a step required congressional approval.
Lawmakers from both the Democratic and Republican Parties have raised concerns about high rates and have called for those to be addressed. Republicans currently hold a narrow majority in both the Senate and the House of Representatives.
There have been some legislative efforts in Congress to pursue such a proposal but they are yet to become law and in his post Trump did not offer explicit support to any specific bill.
Opposition lawmakers have criticized Trump, a Republican, for not having delivered on his campaign pledge.
“Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10 percent,” Trump wrote on Truth Social, without providing more details.
“Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies,” Trump added.
The White House did not immediately respond to a request for comment on details of the call from Trump, but said on social media without elaborating that the president was capping the rates.
Some major US banks and credit card issuers like American Express, Capital One Financial Corp, JPMorgan , Citigroup and Bank of America did not immediately respond to a request for comment.
US Senator Bernie Sanders, a fierce Trump critic, and Senator Josh Hawley, who belongs to Trump’s Republican Party, have previously introduced bipartisan legislation aimed at capping credit card interest rates at 10 percent for five years. This bill explicitly directs credit card companies to limit rates as part of broader consumer relief legislation.
Democratic US Representative Alexandria Ocasio-Cortez and Republican Congresswoman Anna Paulina Luna have also introduced a House of Representatives bill to cap credit card interest rates at 10 percent, reflecting cross-aisle interest in addressing high rates.
Billionaire fund manager Bill Ackman, who endorsed Trump in the last elections, said the US president’s call was a “mistake.”
“This is a mistake,” Ackman wrote on X.
“Without being able to charge rates adequate enough to cover losses and earn an adequate return on equity, credit card lenders will cancel cards for millions of consumers who will have to turn to loan sharks for credit at rates higher than and on terms inferior to what they previously paid.”
Last year, the Trump administration moved to scrap a credit card late fee rule from the era of former President Joe Biden.
The Trump administration had asked a federal court to throw out a regulation capping credit card late fees at $8, saying it agreed with business and banking groups that alleged the rule was illegal. A federal judge subsequently threw out the rule.
