It has, though? I mean, we could quibble over "deluge", but the Internet Crime data shows a pretty consistent 20-30% increase in dollar loss to fraud since 2020, with a $4.2bn loss in 2020 increasing to a $20.9bn loss in 2025.
ic3.gov/AnnualReport/Re…
(If there's a better data source than this let me know!)
Attackers have organizational friction, but I'm pretty sure it's less than that of defenders.