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    Saturday, October 12

    AI’s Dark Side Unleashed: Cybercrime’s Looming Wave and the Struggle of Law Enforcement

    A.I. used in cybercrime on the rise. It’s about to get very strange and dangerous out there…

    Have you ever wondered about the impact of AI on cybercrime? It seems like cybercriminals are a bit hesitant to use AI in their attacks.  Thus far… 

    Artificial intelligence (AI) is rapidly advancing, ushering in transformative changes in various aspects of our lives. However, according to cybercrime expert and lawyer Marc Maisch, this progress comes with a dark side that could potentially leave individuals bereft of their savings. In an interview with Germany’s Die Welt newspaper, Maisch warned of an impending crime wave where cybercriminals leverage AI tools to exploit vulnerabilities, leading to financial losses for countless victims.  Continued below the video

    Maisch highlighted the dual nature of AI, emphasizing that while it serves as a powerful tool, it also provides cybercriminals with sophisticated means to orchestrate attacks. One alarming trend is the creation of phishing emails using AI, with malevolent code generated by tools like ChatGPT. Maisch stressed that the looming threat extends beyond conventional cybercrimes, encompassing deepfakes and voice phishing, where AI recreates faces and voices for fraudulent purposes.

    CrowdStrike CEO George Kurtz told @jimcramer why AI can help companies fight against cybercrime. – CNBC

    The cybercrime expert painted a concerning picture of the future, stating, “We are currently seeing the start of a revolutionary development in cybercrime. Next year, the year after that, this will have reached a whole new level.” With AI, criminals may deploy machine-written code to steal personal information or execute large-scale account hacks. The emergence of AI voice mimicry tools adds another layer of complexity, allowing hackers to potentially bypass voice authentication systems or deceive individuals into transferring funds.

    Cyberterror is increasing. The worldwide cost of cybercrime will be $6 trillion in 2021, that’s over 6% of the World GDP of almost $92 trillion. Technology is being turned into the equivalent of disease vectors for spreading a cyberattack. – Bill Daviddow

    Cybercrime has witnessed a significant surge in the past decade, particularly affecting Europeans. Germany’s Federal Office of Information Security reported record-high cybercrime levels in 2021. Maisch revealed that cybercrime syndicates openly recruit new members on public websites, and in Southeast Asia, human trafficking gangs coerce individuals into committing criminal acts by confiscating their passports.

    Maisch highlighted the automation of love scams through AI chatbots, noting that this approach allows scammers to target thousands simultaneously, making the process more profitable. The global nature of cybercrime poses a significant challenge, as illustrated by one of Maisch’s clients losing €800,000, with the investigation essentially halted due to the perpetrators residing abroad.

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    The cybercrime expert expressed frustration with the inadequate response from law enforcement, citing cases where police lack the necessary expertise to investigate cybercrimes effectively. He pointed to underfunding and insufficient efforts to enhance international cooperation between law enforcement authorities. Traditional methods of dealing with crimes, such as bank robberies, are no longer applicable in the digital age, where individuals are tricked into transferring money willingly.

    To sum it all up: as AI continues to advance, the looming threat of cybercrime demands a proactive and collaborative response from global law enforcement agencies to protect individuals from financial losses and safeguard the integrity of digital spaces.

    Cybercriminals are Showing Hesitation to Utilize AI When Executing Cyber Attacks – Cyber Security News

    Major Points Discussed:

    • Artificial intelligence (AI) is rapidly advancing, presenting both transformative benefits and potential risks, with cybercriminals exploiting AI tools to orchestrate sophisticated attacks.
    • Cybercrime expert Marc Maisch warns of an imminent wave of cybercrime, fueled by AI tools that enable the creation of malicious code in phishing emails and the emergence of deepfakes and voice phishing.
    • The use of AI allows cybercriminals to deploy machine-written code for large-scale theft, hacking personal information, and leveraging voice mimicry tools to bypass security measures or deceive individuals into financial transactions.
    • Cybercrime has surged globally, with Europeans increasingly targeted. Recruitment by cybercrime syndicates is openly conducted online, and human trafficking gangs in Southeast Asia coerce individuals into criminal activities.
    • Law enforcement faces challenges in investigating cybercrimes due to the global nature of the threat. Underfunding and insufficient international cooperation hinder effective responses, leaving victims vulnerable to financial losses and limited legal recourse.

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    Comments – Threads – Links

    • The Good, The Bad And The Reality: The Impact Of AI On Cybersecurity – Forbes Mag
    • Is Your Money Safe? Within A Year, Millions May Lose Their Savings Due To AI Threat, Warns Cybercrime Expert – ZeroHedge
    • Did you know that AI and cybercrime have formed a dangerous alliance, unleashing a wave of unprecedented threats? Brace yourself for the havoc caused by AI-powered botnets. Don’t wait, take proactive steps to protect yourself now – Simplify
    • Cybersecurity Meets AI: The integration of artificial intelligence with cybersecurity measures is garnering attention as businesses become more vulnerable to attacks. Advanced AI systems can proactively identify and neutralize threats, bolstering defenses against cybercrime and safeguarding sensitive data. – Tigers

    Janeen Antopolous, freelance writer for Whatfinger News 

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