Finance and banking have always been a target for cybercrime, and as banks and financial companies apply AI, the risks increase.
As the use of AI progresses in all fields, the benefits will increase, but there are also countless risks, and the risk of information security being compromised is also becoming more diverse.
For example, previously only hackers with advanced technical knowledge could carry out traditional cyber attacks. But now even people with less skills can do this. AI can be used to create viruses and attack tools based on generative AI tools. The risks are high when AI is misused.
Amid the powerful development of AI, the financial and banking sector faces new risks. Cyber-attacks are becoming more sophisticated and more difficult to counter.
Risk and information insecurity are exacerbated in terms of scale, speed, and level of damage, including sensitive information leaks, financial loss, reputational damage, and business disruption.
Fraudsters use AI and big data models to optimize their malware, bypass methods used to detect vulnerabilities, and plan advanced attacks such as techniques to attack social networks and spear phishing.
AI brings great opportunities, but also increases challenges to information security. Therefore, security is considered one of the main pillars of Microsoft’s development strategy. Others include cloud, data, and AI.
While the cloud is the foundation of AI and data is the foundation for AI to work effectively, security solutions ensure that your systems and data are always safe.
When advising clients on solutions to combat cyberattacks in the age of AI, Microsoft typically recommends applying the 3P model (People, Process, Platform).
Of these, the most important element is people. Building a culture where employees protect information by continually training them on security solutions is a key challenge. Police officers need to remember the principles of zero trust. This means that there is no moment of absolute security.
According to the Vietnam Bankers Association, around 85% of banks have established strategies to use AI in creating new products and services.
Van Anh
