Phishing scams playbook: Adapting to keep up with malicious AI

With the rapid advancement of technology, the scale and sophistication of cyberattacks are escalating. Anne Neuberger, the US Deputy National Security Advisor, highlighted this concern in 2023, referencing FBI and IMF data that forecast the annual cost of cybercrime in the US to surge beyond $23 trillion by 2027. This alarming projection underscores the urgent need for security systems to evolve at pace with the weaponization of AI, which has significantly enhanced the complexity and efficacy of scams.

Originally, phishing attacks were relatively simplistic, with fraudsters impersonating legitimate entities via email to deceive individuals into disclosing sensitive information, like passwords and credit card numbers. These cybercriminals also trick victims into engaging with malicious links or opening infected files, leading to the automatic installation of malware on their devices.

However, the advent of SMS business communications, QR codes, and advanced voice manipulation technologies has made phishing schemes increasingly difficult to detect ...