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Artificial Intelligence Fueling Global Surge In Cybercrime

This week in cybersecurity from the editors at Cybercrime Magazine

Read the Full Story in Euronews

Sausalito, Calif. – May 11, 2024

Cybercrime is evolving rapidly thanks to artificial intelligence.

Euronews reports that cybercriminals are targeting citizens and businesses around the world with sophisticated techniques and hard-to-detect scams that can fool even experienced executives.

Globally, it is estimated that the cost of cyberattacks in 2025 will exceed $10 trillion USD (€9.3 trillion), according to a report done by Cybersecurity Ventures.

Christos Xenakis, professor of cybersecurity at University of Piraeus in Greece, explains how artificial intelligence is helping criminals to develop complex and imaginative scenarios to deceive their victims.

Personalized attacks involve cybercriminals using video and audio publicly available online to mimic a person’s face and voice. These fake products are then used to make online video calls and request money from family or business partners.

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