AI-powered cyberattacks on the rise as criminals target businesses: Report

Cybersecurity experts are sounding the alarm over the escalating use of artificial intelligence by criminals to execute more advanced cyberattacks. These sophisticated attacks are making it easier for malicious actors to target businesses and organizations worldwide.

According to a report from Finland's public broadcaster Yle, Finnish cybersecurity officials indicate that the threat level remains high. Common risks include phishing, ransomware, account theft, and supply-chain attacks. Mikko Hypponen, chief research officer at cybersecurity firm Sensofusion, explained that AI significantly boosts cybercrime efficiency. Attackers can now generate malware, write highly convincing phishing emails, identify potential victims more effectively, and automate various operational aspects.

Hypponen noted that AI's capabilities extend to language generation, stating, "AI writes better Finnish than most Finns." This suggests that even complex languages are no longer a barrier for online scammers. Anssi Kärkkäinen, director general of Finland's National Cyber Security Centre (NCSC-FI), echoed these concerns, describing AI as making cyberattacks "easier, cheaper and more convincing." He highlighted the increased effectiveness of impersonation tactics, where criminals pose as trusted individuals or organizations.

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AI writes better Finnish than most Finns.

However, Kärkkäinen stressed that AI is not the sole driver of the growing cyber threat. He pointed to other significant factors, including strong financial incentives for cybercriminals, widespread weak cybersecurity practices among organizations, and the continuous expansion of internet-connected systems. Separately, cybersecurity firm Check Point Software Technologies reported a year-over-year increase in cyberattacks targeting Finland, with the education, research, public administration, and telecommunications sectors being particularly hard hit.

In response to these threats, experts are urging organizations to bolster their cyber defenses. Key recommendations include keeping software consistently updated, implementing continuous network monitoring, and maintaining secure data backups to mitigate the impact of potential breaches.

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AI is making cyberattacks easier, cheaper and more convincing.