Phishing attacks are becoming more pronounced with AI-generated, scam communications being sent to the top levels of companies, despite basic security protecting most organisations.
Big companies like Ebay have bemoaned the rise of phishing scams, which typically rely on human error, in this case towards their senior executives to unleash mass data loss. The attacks are increasingly evolving, they argue, seizing data about the individuals and engineering AI scams with more personal touch. The methods of this type of scam mimic social manipulation techniques. Notably, this type of scam pretends to be from a trust-worthy entity and tricks victims into revealing more sensitive information.
The concerning volume of phishing attacks puts large e-commerce competitors at risk of serious security breaches impacting their customers’ and all data. As per the report, artificial intelligence (AI) is playing a crucial role in creating believable scams, scraping and using Executive data and personalised messaging.
Generative AI lowers the security protections within organisations, which used to launch the sheer volume of unique email attacks by legitimate senders can surpass basic security filters employed by companies.
The Financial Times reported the two major retailers, eBay and insurance company Beazley, as highlighting the proliferation of fraudulent emails sent to their senior employees, which contained some of their personal information.
