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Cybercriminals Implemented Artificial Intelligence (AI) for Invoice Fraud

Security Affairs

Crooks created a new tool that uses Artificial Intelligence (AI) for creating fraudulent invoices used for wire fraud and BEC. Resecurity has uncovered a cybercriminal faction known as “ GXC Team “, who specializes in crafting tools for online banking theft, ecommerce deception, and internet scams.

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Employee Spotlight: The Human Faces Behind Artificial Intelligence

Webroot

3, the Federal Trade Commission (FTC) had logged more than 298,000 consumer complaints related to COVID-19 stimulus payments, 68 percent of them involving fraud or identity theft. How have malicious threats evolved since the early days of the internet to now? As of Jan. Cyber threats are evolving every day.

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New AI Scams to Look Out For in 2024

Identity IQ

New AI Scams to Look Out For in 2024 IdentityIQ Artificial intelligence (AI) has quickly reshaped many aspects of everyday life. AI-Powered Phishing Scammers have begun leveraging the power of artificial intelligence to make phishing scams more convincing and impactful.

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Fintech Cybersecurity Trends in 2021

Security Boulevard

Fraud and identity theft are on the rise, with online shopping hacks and COVID-related scams popular among cybercriminals. . Financial institutions like MasterCard are adopting artificial intelligence and machine learning processes to predict and prevent fraud. AI fraud detection. .

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T-Mobile Confirms Data Breach, Says Too Early to Assess Damage

eSecurity Planet

BankInfoSecurity reported that it had communicated with one person involved in the T-Mobile attack, who said the attackers got into the T-Mobile systems when the giant carrier left a gateway GPRS support node (GSSN) – which is a router between the company’s network and the internet – misconfigured, which exposed it to the internet.

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BEC Still #1, but Investment Fraud passes Romance Scams

Security Boulevard

The FBI's Internet Crime Complaint Center (ic3.gov) gov) has released their 2021 Internet Crime Report. Identity Theft. The theory was that their advanced Artificial Intelligence was doing Bitcoin trading to make amazing profits. 213,196,082. Tech Support. 347,657,432. 146,477,709. Non-Payment/Non-Delivery.

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Cybersecurity in 2022, Predictions for digital ecosystem facing more challenges and sophisticated threats

CyberSecurity Insiders

through September of 2021 has already surpassed the total number of compromises in 2020 by 17%, according to the Identity Theft Resource Center (ITRC).” Digital connectivity driven by the adoption of industrial internet of things and operational technology (OT) has further expanded the attack surface.