Attackers retain old scamming tricks with new twists — and consumers must stay informed to protect themselves

Gen Threat Report shows emerging trends in cyberattacks
Attackers are increasingly involving AI in their attack vectors
Consumers and businesses alike are being hit harder and more often

Cybercriminals are increasingly leveraging AI technologies to enhance their attacks, experts have warned.

A report from Gen has underlined a growing need for vigilance as scammers integrate voices, images, and videos using AI.

It warned attackers are leveraging the technology to create deepfake videos, often featuring celebrities, to endorse fake cryptocurrency schemes. Scammers have also been spotted exploiting global events and hijacking platforms such as YouTube to run scams, such as the SpaceX Starship integrated flight test (IFT-4) scam, which stole over $1.4 million via fake crypto campaigns.

Cybercriminals expand attacks with AI

Scammers are not just adopting new technologies but also revamping older tactics, the report warns. For instance, the antivirus scam, which was popular in the 2000s, has made a comeback, as cybercriminals now deploy aggressive pop-up alerts mimicking legitimate antivirus programs, falsely claiming the victim’s computer is infected.

These alerts abuse the Windows notification system to appear as credible system messages, urging users to take action by purchasing fake antivirus software. The endgame is to earn commissions through third-party referral programs, while victims are left with a false sense of security.

Scammers are also taking advantage a fluctuating employment market by offering jobs such as promoting goods on social media, which evolve into more sophisticated schemes involving AI-generated voice communications. Victims are convinced to send money, often without realizing they have been duped until it’s too late.

The report also reveals that this year has seen a surge in large-scale data breaches, with cybercriminals increasingly focused on stealing digital identities. While buying personal data on the Dark Web remains a popular method, hackers are now turning to more direct techniques such as InfoStealers to access sensitive information.

Cybercriminals are now shifting focus to less protected consumers as companies strengthen their defenses against ransomware attacks. According to Gen telemetry, there was a 24% increase in ransomware attacks targeting consumers in Q2/2024, with India witnessing a staggering 379% rise. The United States, Canada, and the United Kingdom also saw significant spikes in these attacks.

“We continue to see cybercriminals expand their toolkits with even more uses of AI to strengthen their attacks,” said Siggi Stefnisson, Chief Technology Officer at Gen. “Scammers are cunning and adept at exploiting what is most likely to be on consumers’ minds – whether it has to do with elections, love or financial security.”

“Now with AI and other new tech, their schemes are more sophisticated and convincing than ever before. We urge consumers to stay informed and alert. We will continue to keep a watchful eye on the latest threats and provide the latest knowledge and tools needed to be safer despite the evolving threat landscape,” Stefnisson added.

Gen has also continued to strengthen its collaboration with governments worldwide to combat ransomware and provide free decryption tools to victims with the recent release of the Avast DoNex Ransomware Decryptor, designed to help individuals recover from damaging ransomware.

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