During the past decade, AI-based Cyber Crimes have become increasingly common. In most cases, this type of crime involves malicious software that you can use to gain access to private systems or networks. You can also hijack digital content, such as music files or videos. This type of attack can be highly disruptive and damaging for individuals as well as businesses.
As technology advances, so do these methods used by hackers. The potential impact on data security makes it a major concern for organisations around the world. Criminals continue to use more sophisticated techniques in order to steal confidential information from unsuspecting victims. So, protecting their processes becomes extremely crucial.
Therefore, it is now imperative for businesses to protect themselves against such crimes by availing of cyber insurance.
The emergence of AI-driven threats: a new frontier in cyber crimes
As the world becomes increasingly reliant on technology and artificial intelligence (AI), AI-based Cyber Crimes are emerging as a new frontier in cybercrime. Due to their ability to learn, adapt, and rapidly evolve, these threats present unique challenges for organisations of all sizes.
Malicious actors use AI-driven threats to:
- Systematically attack networks,
- Bypass traditional security measures,
- Access or exfiltrate sensitive information from databases,
- Create fake accounts with compromised identities and
- Generate vast amounts of fraudulent data that may lead to financial loss or reputation damage.
As businesses look for ways to protect their assets from these new kinds of attacks, it is important they understand the risks. They can implement robust virtual security controls such as anti-malware software updates and comprehensive patching policies. It is also critical that companies have an effective incident response plan in place in the event of a potential breach. Along with these measures, having cyber insurance can offer complete financial security against such risks.
Common types of AI-generated audio and video attacks
- Public bots
Public bots are the most common form of AI-generated audio and video attacks. They use prerecorded audio or video clips to mimic a person’s voice by manipulating the frequency, pitch, or other factors of the sound waves. This is also known as voice spoofing.
In some cases, public bots can also imitate a person’s facial expressions using deep learning algorithms. These attacks can be used for malicious purposes. It includes impersonating someone’s identity online or harassing people with offensive messages in real-time conversations through messaging apps.
- Deepfake technology
Deepfake Video is computer-generated videos that falsely portray an individual performing certain actions which they have not actually performed. This technology utilises sophisticated artificial intelligence (AI) techniques to convincingly recreate facial features from photographs. They can then manipulate them into subtle expressions like sad smiles and happy tears.
Deepfakes use machine learning algorithms which makes them hard to spot even for expert eyes. These technologies push boundaries between reality and fantasy in order to subvert trustworthiness. They can bypass traditional security checks such as authentication methods that rely on biometrics like iris scanning or facial recognition scans.
Cyber insurance in the time of AI-generated threats
As India develops and grows more digital, it is essential to recognise the cybersecurity risks associated with such growth. Cyber insurance policy in India serves an invaluable role in protecting businesses from financial losses.
In response to AI-driven threats, many companies in India have begun investing heavily in cyber insurance policies. This is necessary to safeguard their data from malicious actors online.
Additionally, governments across the country have been actively encouraging organisations of all sizes to invest further in such protective measures. They are encouraging firms to invest in subsidies and other supportive initiatives. By doing so, they can better protect both their citizens and companies from any intrusions or frauds caused by AI-generated threats.
Ultimately, investing in cyber security solutions including cyber insurance online will help Indian businesses remain safe and secure.
Conclusion
As AI technology continues to evolve, it is essential that proactive measures are taken to stay ahead of future threats in this space. AI-based Cyber Crimes can be mitigated through increased education on cybercrime trends and the implementation of policies across organisations, improved resource management, and strengthened legal frameworks. Along with this, having the right cyber insurance policy can provide much-needed financial protection against such crimes.
About The Author
Arshdeep
MBA Insurance Management
Arshdeep is a seasoned insurance expert with 7 years of experience, specializing in Cyber Risk Insurance. As a writer for SecureNow, he delivers insightful blogs and articles that demystify the complexities of cyber risk coverage. His content is designed to help businesses understand the importance of protecting against cyber threats and data breaches. With a focus on practical advice and the latest industry trends, Arshdeep empowers readers to make informed decisions about their cyber insurance needs, ensuring robust protection in an increasingly digital world.