Experts warn business owners are being hit by personalized AI phishing attacks AI tools can process vast amounts of data on targets 90% of successful cyberattacks start with a phishing scam
Top companies such as eBay and Beazley are reporting a significant increase in the amount of personalized phishing attacks made against senior employees.
A recent report in the Financial Times outlines growing concerns about the growing use of AI in targeted fraud against executives at major companies.
Kirsty Kelly, Beazley’s chief information security officer, told the magazine: “Things are getting worse and more personal, which is why AI is behind so many of them. I suspect that he may be involved.” “We’re starting to see very targeted attacks that collect huge amounts of information about individuals.”
expensive results
By processing vast amounts of data, AI can quickly collect and retain information about victims and mimic the tone and style of individuals and businesses. This means highly personalized phishing scams are becoming increasingly convincing and difficult to spot.
As these attacks become more sophisticated, they also take more toll on their victims. IBM reports that nearly all (90%) successful cyberattacks originate from phishing emails, and the global average cost of a data breach will rise by almost 10% to $4.9 million in 2024. .
Phishing attacks have been on the rise for a long time, with some companies receiving up to 36 phishing emails per day, and reports suggest a 28% increase in phishing attacks in the second quarter of 2024 It became clear that it would.
Until recently, phishing attacks were generally impersonal and contained vague information with a fairly low success rate. However, thanks to AI tools, the threshold for entry into these types of attacks has become lower, and “sophisticated and highly targeted” scams are now being seen in abundance.
“Companies need a multi-layered approach to avoid falling victim to phishing attacks,” said Tim Callan, Chief Compliance Officer at Sectigo.
“Employees need to be trained to recognize when they may be the target of a phishing attack, but businesses are also looking to proven technologies and building anti-phishing infrastructure across their IT ecosystem. must be introduced.”
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