Cybercriminals are leveraging generative AI to take their schemes to the next level, warns Juan Rivera, Senior Solutions Engineer at Telesign. From deepfakes to exploiting human error and vulnerabilities, personal data is under siege in the digital world. Recent data breaches reveal that fraudsters leverage AI to write malicious code that reveals the chat history of active users, personal identifiable information like names, email addresses, payment addresses, and even the last four digits and expiration date of credit cards. Furthermore, cybercriminals are using synthetic identities to build new credit identities or log into an existing account with very real information. Password and credential fronts are no longer safe either as AI can predict the passwords of users who have chosen fairly weak ones.
To protect their employees and customers, companies need to put strategies into place. If corporations do not implement safety practices, it could result in regulatory fines, reputation damage, and financial loss. Beyond two-factor identification (2FA), multi-factor authentication is necessary today. Biometrics, additional information for identity validation, or behind-the-scenes identification protocols can all help detect suspicious behavior. Employee training and education around security best practices are critical, and companies should engage with customers on a regular basis to raise knowledge and bolster optics. Fraudsters do not sleep, so it is important for industry standards to start making education a priority to ensure safety in the digital space.
Frequently Asked Questions (FAQs) Related to the Above News
What is generative AI and how are cybercriminals using it?
Generative AI is a technology that allows for the creation of new content, such as text or images, that is indistinguishable from what a human could produce. Cybercriminals are using generative AI to create deepfakes, write malicious code, and predict passwords of users.
What kind of personal information are cybercriminals targeting?
Cybercriminals are targeting personal identifiable information, such as names, email addresses, payment addresses, and even the last four digits and expiration date of credit cards.
How are cybercriminals using synthetic identities?
Cybercriminals are using synthetic identities to build new credit identities or log into an existing account with very real information.
What kind of risks do companies face if they do not implement safety practices?
Companies risk regulatory fines, reputation damage, and financial loss if they do not implement safety practices.
What is multi-factor authentication and why is it necessary?
Multi-factor authentication is the use of two or more methods of identification verification, such as biometrics or additional information for identity validation, to detect suspicious behavior and ensure security.
Why is employee training and education around security best practices critical?
Employee training and education around security best practices is critical to ensure that all employees are aware of how to protect themselves and the company from cyber threats.
What should companies do to engage with their customers and raise knowledge about cyber threats?
Companies should engage with their customers on a regular basis to raise knowledge about cyber threats and bolster optics. This can include sending out newsletters, hosting webinars, or providing relevant resources and information on their website.
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
