A recent report by cybersecurity expertsand Perception Point, has brought to light a startling increase cyber attacks mostly in Business Email Compromise (BEC) . These attacks, fueled by the advancement of generative AI technology, have surged by a staggering 1,760% in 2023 alone.
BEC attacks involve cybercriminals using sophisticated techniques to craft deceptive emails that mimic legitimate businesses and executives. Through these emails, unsuspecting victims are tricked into revealing sensitive data or transferring money, falling prey to fraudulent schemes.
What’s particularly alarming is that BEC attacks, which only accounted for 1% of cybercrimes in 2022, now make up a significant 18.6% of attacks. This exponential rise underscores the growing threat posed by cybercriminals leveraging AI technology.
Perception Point’s Annual Report highlights the concerning trend of cybercriminals harnessing the power of generative AI to orchestrate intricate and deceptive attacks. As generative AI becomes more accessible, malicious actors exploit its capabilities to perpetrate sophisticated scams with devastating consequences.
The report sheds light on other emerging threats in the cybersecurity landscape. Phishing via malicious QR codes, known as “quishing,” has seen a considerable uptick, comprising 2.7% of all phishing attacks. Attackers capitalize on users’ trust in QR codes, with a concerning 6% of QR codes sent via email found to be malicious.
The report also reveals a surge in “two-step phishing” attacks, witnessing a 175% increase in 2023. These attacks exploit legitimate services and websites to bypass security measures, redirecting users from trusted sites to malicious ones.
Conclusion
Finally, In light of these alarming trends, the need for advanced email security solutions has never been more urgent. With phishing attacks accounting for over 70% of all threats, organizations must prioritize securing their digital ecosystems to safeguard against cyber threats.
As cyber attackers continue to evolve and employ sophisticated ways, staying vigilant and implementing robust security measures is paramount in safeguarding sensitive data and mitigating risks in today’s increasingly digital world.
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