The article also discusses how AI can help in detecting SIM swaps and toll fraud, and emphasizes the need for companies to assess how their cybersecurity vendors leverage AI. It mentions several established vendors and startups that are using AI for cybersecurity, and stresses the importance of differentiating between legitimate and fraudulent intentions using AI.
Key takeaways:
- Generative AI is being used by fraudsters for phishing, creating synthetic identities, and automating attacks, leading to a significant increase in malicious phishing emails and credential phishing.
- AI can be used to bolster defenses against such fraud by analyzing typical use patterns of devices and phone numbers, identifying unusual behavior, and risk-scoring instances of devices attempting to log in.
- AI can also detect signals of SIM swaps and toll fraud, increasing protections for customers and businesses alike.
- Companies should assess how their cybersecurity vendors leverage AI to fight AI-powered fraud, looking for those who use AI and machine learning to understand how fraudsters think and behave, and to risk-score transactions, logins, and sessions.