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AI-generated scams to increase cyber risks in 2024

Economic Times

Economic Times · 1y ago

AI-generated scams to increase cyber risks in 2024

According to cybersecurity firm McAfee, AI-generated scams such as deepfake media will pose a greater risk of identity theft, phishing scams, and cyberbullying in 2024. The technology has the potential to spread misinformation through AI-generated voice, video, and photo scams, impacting victims' lives. This could also lead to increased instances of cyberbullying, with disturbingly realistic fake content targeting children. McAfee also predicts that AI will be used by cybercriminals to manipulate social media and shape public opinion, while charity frauds and Olympic-related scams are also expected to increase.

Related News

Global Cybercrime Losses Could Hit $13.82 Trillion by 2028: Google

OutlookIndia

OutlookIndia · 2m ago

Global Cybercrime Losses Could Hit $13.82 Trillion by 2028: Google

Global entities could lose up to $13.82 trillion due to cybercrime by 2028, as per Google. At the 'Safer with Google India Summit,' Google emphasized creating a safer online environment through its AI systems, which block millions of scams monthly and issue numerous suspicious link warnings. In India, cyber threats like AI-generated content and deep fakes are rising, potentially costing Indian entities ₹20,000 crore in 2025. Google collaborates with the Indian Cyber Crime Coordination Centre for user awareness.

Explained | Report cyber crime on Govt's Chakshu portal; here's how to report a scam

Money Control

Money Control · 1y ago

Explained | Report cyber crime on Govt's Chakshu portal; here's how to report a scam

India has launched a government digital portal called Chakshu to help people report cyber scams easily. The portal allows users to report scams via calls, messages, or WhatsApp. It also enables users to register their grievances and block phone numbers associated with the scams. In 2023, there was a significant increase of 60.9% in the number of cyber complaints registered online compared to 2022. The Chakshu portal aims to make reporting cyber crimes more convenient and efficient, with the process taking only three minutes.

USB charger scam alert! What is ‘Juice-Jacking’ and how to avoid it

Livemint

Livemint · 1y ago

USB charger scam alert! What is ‘Juice-Jacking’ and how to avoid it

Government officials have issued a warning regarding the risks of using public phone charging stations due to the prevalence of cyber scams. These scams, known as "USB charger scams" or "juice-jacking," involve hackers stealing data or installing malware onto unsuspecting users' devices when they connect to compromised ports. To mitigate these risks, individuals are advised to use traditional electrical outlets whenever possible, carry their own charging cables or power banks, implement device security measures, and keep software up to date. In the event of falling victim to a scam, prompt reporting is encouraged.

AI advances risk facilitating cyber crime, top US officials say

Reuters · 1y ago

AI advances risk facilitating cyber crime, top US officials say

Top U.S. law enforcement and intelligence officials have warned that advances in artificial intelligence (AI) could make hacking, scamming, and money laundering more accessible and effective. The ease of using AI to guide hacking operations is enabling less technically capable individuals to carry out cyber intrusions, while AI-generated messages and "deepfake" images could aid in financial scams and money laundering. However, the officials also noted that AI advancements are helping authorities detect and address malicious activities.

Google steps up fight against online fraud and deepfakes with Safety Charter for India

YourStory

YourStory · 2m ago

Google steps up fight against online fraud and deepfakes with Safety Charter for India

Google has introduced its Safety Charter for India, aiming to combat online fraud, deceptive content, and enhance cybersecurity. This initiative addresses rising cyber threats, particularly those involving AI-generated scams like deepfakes. The Safety Charter is part of Google's broader strategy, including its 'Digikavach' program, which has already impacted millions by providing AI-driven fraud protection. Collaborations, such as with IIT-Madras, and various AI-powered tools are pivotal in ensuring a trustworthy digital environment in India.

AI-generated phishing emails are getting very good at targeting executives

Arstechnica

Arstechnica · 7m ago

AI-generated phishing emails are getting very good at targeting executives

AI-generated phishing emails are increasingly targeting corporate executives with hyper-personalized scams. Using scraped data and sophisticated AI analysis, these emails mimic an individual's communication style and interests. Companies like Beazley and eBay are witnessing a surge in such cyber threats. These emails often bypass security filters due to their unique composition, making them more effective. The rise of generative AI tools has lowered entry barriers for cybercriminals, leading to costly data breaches and financial losses globally.

Cybercrimes on rise: Tamil Nadu Police warns public; Chennai, Coimbatore, tier-II cities vulnerable

Economic Times

Economic Times · 9m ago

Cybercrimes on rise: Tamil Nadu Police warns public; Chennai, Coimbatore, tier-II cities vulnerable

The Tamil Nadu Police has issued a warning about the increasing number of cybercrimes in the state, particularly in Chennai and Coimbatore. Between January and August 2024, there were 1,679 registered cybercrime cases, with financial fraud being the most common. These scams have led to a loss of about Rs 189 crore. The police have urged the public to be cautious of various scams, such as online share trading fraud and fake job offers. They have also advised victims to report the crimes promptly on the National Cyber Crime Reporting Portal to increase the chances of freezing the scammers' bank accounts.

Meta, Govt Roll Out Initiative Against Online Scams

Inc42 · 10m ago

Meta, Govt Roll Out Initiative Against Online Scams

Meta, the parent company of social media giant Facebook, has partnered with the Centre to launch a two-month safety campaign titled "Scams se Bacho" (Save yourself from scams) in India. The campaign aims to raise awareness about online scams and provide guidance on how to stay safe online. It supports the government's efforts to combat the increasing cases of scams and cyber fraud in the country. This initiative comes in conjunction with Amazon's digital campaign, #AapkeHittMeJaari, which educates customers on staying vigilant against cyber fraud and scams through YouTube Shorts.

Swipe left! AI-generated bots proliferate online dating space

Economic Times

Economic Times · 1y ago

Swipe left! AI-generated bots proliferate online dating space

A recent survey conducted by cybersecurity firm McAfee reveals that scammers are increasingly using AI-generated bots to deceive users on dating websites, with 26% of Indians encountering AI-generated bots instead of real people. The study also found that 39% of Indians engaging in conversations with potential love interests online were actually interacting with scammers. McAfee warns that AI tools enable scammers to create convincing profiles and messages, leading to an increase in romance scams and catfishing. Furthermore, the survey shows that while 56% of Indians plan to use AI to write messages for their love interests, 60% would be hurt or offended if they found out their Valentine's message was AI-generated.

How voice deepfakes are emerging as a new threat

Economic Times

Economic Times · 1y ago

How voice deepfakes are emerging as a new threat

Voice clones or deepfakes, created using generative AI tools, are becoming a concerning tool for cyber scammers. AI-related scams using voice deepfaking have been reported across India, with websites offering free voice cloning options in multiple languages. These clones can be used for malicious purposes, such as phishing or fraud. While some AI service providers are offering tools to identify cloned audio, experts believe that awareness, skepticism, and security best practices are necessary to prevent falling victim to voice AI scams.

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