Don’t Fall for Bank Impersonation Scams!
Fraudsters know that the majority of people will act quickly if they receive a text, call, or email claiming there’s an issue with their bank account.
A bank impersonation scam is when someone reaches out pretending to work at a credit union or bank you use. Most of these scams are executed to either steal your credit or debit card information, steal your online banking credentials, get you to hand over money, or to get around your credit union or bank’s security protections to access your accounts directly.
Back to Financial Education

The Dangers Artificial Intelligence Holds in Cybersecurity

Artificial Intelligence (AI) is currently a hot topic on social media and has brought about significant transformations in various industries. However, along with its benefits, AI also introduces various cybersecurity risks. Although AI can strengthen our digital defenses, hackers can also use it as a tool to carry out cyber attacks. Let's explore some of the dangers associated with AI in the context of cybersecurity.

AI Malware

Today, there is new AI technology for various things, including cyberattacks. AI-driven malware and hacking techniques have become increasingly complex, capable of evading traditional security measures. Hackers will automate attacks, identify vulnerabilities, and launch targeted and large-scale assaults.

Adversarial Machine Learning

Adversarial Machine Learning is a developing field that manipulates AI systems to generate inaccurate outcomes. Hackers will exploit vulnerabilities in AI algorithms to deceive systems, leading to incorrect predictions or decision-making. For example, an AI system created to locate and block malicious attacks can manipulate into thinking a high-risk attack is nothing serious, causing attackers to get access into the network. These types of attacks on AI are towards hospitals and financial institutions with confidential information.

AI-Powered Social Engineering

Social engineering is a favored tactic for cybercriminals. With AI, attackers may use AI to craft compelling phishing emails, voice impersonations, and deep fake videos. Recently, audio has been trending on TikTok that imitates Kanye West and Drake, allowing them to sing WAP by Meghan the Stallion and Cardi B. This imitation exemplifies how AI can mimic human behavior, making it increasingly challenging for individuals and organizations to discern between honest and fake communications.

Privacy and Data Breaches

AI's ability to process and analyze vast amounts of data is instrumental in various applications. However, it also raises concerns about privacy and data breaches. AI systems are built on having excessive data, often including sensitive information, to deliver accurate results. If misused or compromised, somebody can use this data for fraud.

Weaponization of AI

The weaponization of AI poses a significant danger to global security. Nation-states and non-state hackers can exploit AI capabilities to develop autonomous weapon systems. These AI-driven weapons could lead to worldwide conflicts that impact everyone on a massive scale.

What can you do to protect yourself?

While AI presents substantial cybersecurity risks, it also offers potential solutions to counter them:

-Use AI Defense Systems: As they say on the show out in space, "The best way to defeat something is by using it against each other." Finding a sound AI defense system can help prevent AI attacks.

-Use AI wisely: Since AI collects any information you use it for, it's wise only to use AI for public information.

-Know the regulations: As new technology evolves, it's crucial to stay on top of what the government approves regarding regulations.

-Continuous Monitoring: Regularly monitor new updates on emerging AI-driven threats and the knowledge and skills to defend against them.

As artificial intelligence continues to shape the future, it is vital to acknowledge and address the risks it poses in cybersecurity. Staying aware of updates, knowing the risks, and only using it for public information is a great way to ensure your data stays safe.