What last year's biggest data breaches have taught us about authentication [Q&A]
According to the Identity Theft Resource Center (ITRC) there were 1.1 billion breaches in the first half of 2024 -- a 490 percent increase over the first half of the year before.
In addition, an enormous and unprecedented rate of credential stuffing and bot attacks have been spearheaded by ChatGPT's debut. All of this means having intelligent and accurate fraud prevention techniques have never been so critical.
Increase in stolen identity records fuels cybercrime
A new report from SpyCloud highlights a 22 percent increase in stolen identity records since 2023.
These identity records, consisting of harvested employee, consumer, and supply chain data, are the fuel that power cyberattacks like ransomware, account takeover, and fraud with nearly 80 percent of breaches last year involving the use of stolen credentials.
The dark side of AI: How automation is fueling identity theft
Automations empowered by artificial intelligence are reshaping the business landscape. They give companies the capability to connect with, guide, and care for customers in more efficient ways, resulting in streamlined processes that are less costly to support.
However, AI-powered automations also have a dark side. The same capabilities they provide for improving legitimate operations can also be used by criminals intent on identity theft. The rise of low-cost AI and its use in automations has empowered scammers to widen their nets and increase their effectiveness, leading to a drastic increase in identity theft scenarios.
Scarlett Johansson tops McAfee 2024 Celebrity Hacker Hotlist
McAfee has released its “2024 Celebrity Hacker Hotlist,” highlighting the celebrities whose names are most exploited by cybercriminals. Leading this year’s list is Scarlett Johansson, an actress best known for her role as Black Widow in the Marvel Cinematic Universe. Johansson’s popularity makes her a prime target for hackers, who use her name to trick unsuspecting users into clicking malicious links or downloading harmful files.
McAfee’s report warns that searches involving popular celebrities like Johansson often lead consumers to unsafe sites. These sites can install malware or collect personal data, compromising users’ privacy, data, and identity. The rise of AI has made it easier to create convincing deepfakes, adding another layer of complexity to these scams. These AI-generated images, audio, and videos can be used to deceive fans into engaging with fraudulent content, damaging not only the victim’s finances but also the celebrity’s reputation.
