Rise of Artificial Intelligence triggers cyberattacks in the financial sector in 2024
Cybercriminals are constantly looking for ways to try to scam us. And a new cybersecurity report by 21Sec makes it clear that AI has become a tool that has driven cyberattacks.
As S21Sec explains in its Threat Landscape Report, AI has ‘ radically transformed the cybercrime landscape, simplifying attack processes and enabling the most inexperienced cybercriminals to carry out large-scale malicious actions with greater ease and precision’.
To the point that, during 2024, they have detected a notable growth in the activity of banking Trojans, with the aim of stealing credentials and financial data. But cryptocurrency scams and corporate phishing attacks also come into play.
AI has become a very dangerous tool in the hands of cybercriminals
Where cybercriminals are using artificial intelligence the most is to carry out phishing attacks. We are talking about emails designed to look real and legitimate and, in this way, deceive victims and obtain sensitive information such as credit card numbers or access credentials for bank accounts, among others.
The problem is that, until now, such cyberattacks have required advanced technical skills and considerable time to create fake websites and convincing emails. But the advent of AI has made the process much easier, allowing cybercriminals to develop these malicious attacks with greater ease and precision at the click of a button, as detailed by 21Sec.
In addition, there is a detail to take into account: the ease of access to malicious tools with which to commit cybercrime. In S21Sec's Threat Landscape Report they detail that ‘as a direct consequence of these advances, the phenomenon of Phishing-as-a-Service (PaaS) has been born, similar to the Software-as-a-Service (SaaS) model, PaaS allows cybercriminals to rent or buy complete and customisable phishing kits, lowering the barriers to entry for attacks. "
Kits come with email templates or cloned websites, as well as automated tools to harvest credentials. As a result, any inexperienced attacker can gain access to these types of cyber-scams, leading to a significant increase in this type of fraud.
Finally, the report notes that the world of cryptocurrencies has also been a prominent target for cyber fraud in 2024, with more and more attacks specifically targeting this sector.
The Threat Landscape Report gives as an example the CryptoChameleon phishing kit, which primarily targets cryptocurrency platforms and the Federal Communications Commission (FCC). This kit is capable of cloning login pages and uses emails, SMS and phone calls to steal users' credentials. It's a real danger.
Unfortunately, the attacks are not going to stop, and the financial sector is facing a wave of cyber threats that will grow in 2025 and become increasingly sophisticated. So you need to take as many preventive measures as possible to avoid headaches.
