Alarming surge in AI-driven cybercrime

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Alarming surge in AI-driven cybercrime
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Trend Micro has warned that threat actors have bounced back from recent law enforcement efforts to unleash a new wave of attacks leveraging AI and other techniques – revealing that it blocked almost 47-million email threats, more than 7 000 ransomware attempts, and over 3-million malicious URLs targeted at South African businesses and consumers alone in the first half of this year.

As detailed in its mid-year roundup report – Pushing the Outer Limits: Trend Micro 2024 Midyear Cybersecurity Threat Report – the threat from malicious actors across the globe remains acute despite successful law enforcement actions against ransomware families such as LockBit.A particular cause of concern is criminal use and abuse of AI.

The latter enable cybercriminals to trick generative AI bots into answering questions that go against their own policies – primarily for developing malware and social engineering lures. Also in H1 2024, cybercriminals have been ramping up deepfake offerings to carry out virtual kidnapping scams and conduct targeted business email compromise-type impersonation fraud. They’ve also been using these offerings to bypass know your customer checks which are designed to protect financial organisations from fraud. Trojan malware has been developed to harvest biometric data to help with the latter.

Cybercriminals have leveraged major events such as the Olympics and national elections to launch targeted attacks.Various groups have targeted cloud environments, apps, and services by exploiting exposed credentials, unchecked resources, security weaknesses, and even legitimate but misconfigured tools.

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