Security News > 2023 > October > Generative AI merges with intelligent malware, threat level rises

In contrast, South American organizations experience attack rates of merely 2% largely due to their practice of verifying IDs against government databases, creating a more formidable barrier against fraud.

The data analysis underscores a significant and notable discrepancy in attack modes based on document verification compared to attacks using selfies.

The integration of generative AI and intelligent malware is elevating the efficacy of malicious actors, introducing a higher degree of automation, and amplifying the independence of attacks.

"By identifying the geographical regions and industry sectors that are experiencing the most acute attack rates, we are alerting businesses in those areas to take additional steps to protect their customers," said Dan Yerushalmi, CEO of AU10TIX. "This data reveals which markets fraudsters consider the most vulnerable with the most potentially lucrative return. We hope that by sharing our analysis on a regular basis, we can contribute to the global reduction of identity fraud and make the world a better place."

Among the sectors scrutinized, cryptocurrency and trading are the most highly targeted, responsible for 47% of attacks in Q2. These industries attract professional fraudsters due to their perceived high-profit prospects and inherent anonymity.

The second most targeted industry is payments with 32%, followed by commerce with 12%. Banking accounts for only 2% of attacks.

News URL

https://www.helpnetsecurity.com/2023/10/18/organized-id-fraud/