How AI is exacerbating cybercrime
With the push to experiment and release these new technologies at pace, security vulnerabilities have emerged
Add BT as a preferred source
THE recent news of a multinational firm being deceived by a generative artificial intelligence (AI) “deepfake” into paying US$25 million to a threat actor has signalled the need for businesses to increase vigilance against a new wave of AI-powered cybercrime.
Unfortunately, even before generative AI technology started being widely leveraged as a tool to drive more crime, cyberattacks in 2024 were already trending upwards. According to Aon’s analysis of risk-based security data, ransomware attacks were up 214 per cent on a year-on-year basis in the fourth quarter of 2023, and had surged by over 1,280 per cent when indexed against ransomware frequency before the pandemic (Q1 2019).
Compounding a worsening risk landscape, recent advances in AI, particularly generative AI, are enabling more novel and scalable cybercrimes to proliferate.
TRENDING NOW
Singapore developer in limbo after Timor-Leste scraps major township project
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
MAS to remove mandatory financial advice for complex products for most retail investors
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
