listen to this articleNew technologies, especially artificial intelligence (AI), offer enhancements and efficiencies that make our lives easier. Chatbots can instantly connect you to the solutions you need, and software automation reduces his 20 minutes of work to his 2 minutes. However, these same tools can also make it easier for criminals and fraudsters to take advantage of individuals and businesses, especially if they are unfamiliar with the types of attacks this technology enables. From AI-powered phishing and deepfakes to the power of automated malware and hacking tools, threats are diverse and evolving.
The rise of AI in cybersecurity brings both challenges and opportunities. And with the evolving changes in today's technology, cybersecurity should become a corporate policy to reduce risk, ensure compliance, maintain business continuity, and protect both corporate assets and stakeholder interests. It is essential to incorporate it into By understanding the latest trends and taking proactive measures, individuals and businesses can take control of their security and keep their data safe while online.
AI-powered phishing and social engineering
Phishing is nothing new. People are tricked into divulging sensitive information such as passwords and financial details through emails, text messages, or websites by scammers posing as trusted individuals or organizations. Phishing attacks have evolved alongside technology and human instincts, and have preempted our preconceptions to succeed.
The introduction of AI has opened the door to entirely new types of phishing attacks. Generative AI programs can easily replicate the writing styles of individuals and companies we trust, increasing our confidence that the message is legitimate. These tools can also analyze your online behavior and successfully disguise themselves to blend in with your normal online behavior. Because chatbots can conduct realistic conversations, they are more likely to divulge sensitive information to someone they deem trustworthy.
The best way to protect sensitive information is to slow down and think critically about your digital interactions. Phishing attacks prey on our instinct to act quickly, whether it's logging into our bank account after receiving a concerning message or responding to a request for sensitive information from our boss. To protect yourself from potential phishing attacks, be sure to check all communications you receive for misspellings, grammatical errors, and strange requests. For example, banks will never ask you to reveal your account information or social security number via email or text message. If something doesn't seem right, it's best to trust your intuition.
Deepfakes and synthetic identities
The power of AI is not limited to generating more realistic messages and chats. One of its biggest cyber threats is deepfakes, the ability to produce computer-generated fake videos, photos, and even audio recordings that look surprisingly real. People are generating deepfake videos of world leaders, synthesizing audio recordings to sound like the US president, and generating fake images of celebrities.
Deepfakes pose a problem from a cybersecurity perspective because an impersonator can easily impersonate a senior company leader, a member of law enforcement, or even your parent or child. Criminals can duplicate the voices of loved ones or business associates to request sensitive personal information. In other instances, scammers may create entirely new personas (a twist on the classic “catfishing” approach) to try to scam money from individuals or businesses.
Automated malware and hacking tools
Automated malware and hacking tools accelerate what cybercriminals have relied on for decades to carry out their crimes. AI's software coding capabilities facilitate the automatic creation and deployment of malicious software. This allows attackers to conduct large-scale campaigns on their networks of personal and corporate computers. AI does more than just construct and deploy attacks. You can also scan your system for vulnerabilities and discover exploits in seconds.
For example, AI-driven ransomware can identify specific vulnerabilities in a wide range of systems more quickly than existing tools. Humans cannot work as quickly as her AI-enabled tools, making it difficult for individuals and networks to keep up. If exploited, the vulnerability could allow cybercriminals to steal sensitive information such as bank account details and social security numbers.
It's more important than ever to be proactive about cybersecurity. Regularly update your software and operating system with the latest security patches, use strong passwords, and enable two-factor authentication. Keep work and personal files separate to help create buffers between systems. If you believe your information or computer has been compromised, please contact your IT team for immediate assistance.
Credential stuffing attack
A credential stuffing attack occurs when a cybercriminal knows one of your passwords and tries to use it elsewhere. In other words, the idea is to reuse passwords across multiple sites. AI-powered machine learning algorithms test a large number of stolen credentials across multiple websites at once and reuse passwords to gain access to those sites. Security measures that sites have in place to detect anomalous account activity are difficult to keep up with these systems and are more likely to be compromised without your knowledge.
The best defense against credential stuffing is to never reuse account passwords. Remembering multiple unique passwords can be difficult, but a password manager can help you keep them clear and even suggest new, more complex passwords when you need them. It's also helpful to use multi-factor authentication whenever possible and change your passwords regularly. Monitor your account for suspicious login attempts or login attempts from unusual locations.
As we take advantage of the conveniences that AI provides, we must also be mindful of the cybersecurity challenges that come with it. Slow down, scrutinize your digital interactions, and stay diligent. This is all the same advice that comes with modern computing (and banking).
Lance Spencer is Senior Vice President and Chief Information Security Officer at Northwest Bank.
