AI-Powered Phishing Scams Surge: Why Your Online Safety is at Risk
In the ever-evolving tech landscape, the rapid progress of artificial intelligence (AI) has brought about a concerning development. Cybersecurity experts are sounding the alarm on AI-driven phishing emails that are becoming increasingly sophisticated, particularly targeting high-level corporate executives.
A recent report by Financial Times shed light on warnings from major companies like eBay and Beazley about the rise in fraudulent emails. These scams not only have a higher frequency but also contain detailed personal information obtained through AI analysis of online profiles. This personalized approach makes it easier for scammers to deceive users into believing these emails are legitimate.
Kirsty Kelly, Chief Information Security Officer at Beazley, expressed her concerns stating, “This is getting worse and it’s getting very personal, and this is why we suspect AI is behind a lot of it.” The targeted attacks have become more sophisticated with scammers scraping vast amounts of data to craft convincing phishing attempts.
Cybersecurity experts note a correlation between the surge in AI technology and an increase in cyber attacks. As AI tools advance to meet consumer demands, malicious actors adapt their tactics accordingly.
AI bots can now gather extensive data about individuals or companies to create tailored scams that mimic their communication style. By analyzing social media activity and online presence, hackers can craft highly engaging scams that are difficult to detect.
Nadezda Demidova from eBay highlighted how generative AI tools have made advanced cybercrime more accessible, leading to an uptick in polished and targeted attacks.
Kip Meintzer from Check Point Software Technologies emphasized how AI has empowered hackers to create flawless phishing emails that can easily deceive recipients.
The U.S. Cybersecurity and Infrastructure Security Agency revealed that 90% of successful cyber attacks start with phishing emails. IBM’s Cost of a Data Breach report indicated a global average cost of nearly $4.9 million in 2024 due to data breaches – a 10% increase from 2023’s figures.
Artificial intelligence
AI