The Current State of Cybercrime; the Role of AI in Cybersecurity

Cybercrime is a constantly evolving threat that affects people and organisations of all sizes. In 2022, cyberattacks increased by 38% according to Check Point research, further compounding the growth of 300% seen in 2020, with iGaming and e-commerce businesses being the primary targets. Cybercriminals use a variety of techniques to gain unauthorised access to sensitive information, such as phishing, malware, and ransomware attacks. The consequences of these attacks can be devastating, including loss of data, financial damage, and reputational harm.

With the growing complexity of cybercrime, traditional cybersecurity measures like firewalls and antivirus software are no longer enough. Cybersecurity experts are turning to artificial intelligence (AI) and advance cybersecurity defences such as XDR and managed SOC/SIEM to help detect and prevent cyber threats. But, AI technology is a double-edged sword that can both aid cybercriminals and help prevent cyber attacks.

How Artificial Intelligence is Aiding Cybercriminals

AI technology is making it easier for cybercriminals to launch sophisticated attacks. For example, AI-powered bots can be used to automate phishing attacks, making it easier to target a large number of people at once with very personalised approaches. These bots can analyse social media profiles and other online data to create targeted and personalised messages that appears legitimate and are more likely to be opened and clicked on.

In addition, AI can be used to create deepfakes, which are fake images, videos or audio recordings that are indistinguishable from real ones. Famously, deepfakes have been used to simulate voices of singers such as The Weekend and Drake and also the actor Bruce Willis in a Russian mobile phone commercial, but it can be used to impersonate people in authority within a company, such as a CEO or network administrators or even used to spread false information, which can be used for malicious purposes.

Another way AI is aiding cybercriminals is through the use of machine learning algorithms. These algorithms can be used to analyse large datasets and identify vulnerabilities in software systems, which can then be exploited by cybercriminals.

Examples of AI-Powered Cyber Attacks

AI-powered cyber attacks are becoming more common, and their impact can be devastating. One example is the 2017 WannaCry ransomware attack, which affected over 200,000 computers in 150 countries. The attack was carried out using an AI-powered worm that was able to spread rapidly and infect vulnerable systems.

Another example is the use of AI-powered bots to launch distributed denial of service (DDoS) attacks. DDoS attacks involve overwhelming a website or server with traffic, making it inaccessible. AI-powered bots can generate massive amounts of traffic, which can be used to take down even the most secure websites. Read about Continent 8’s experience over Christmas and World Cup 2022.

Impact of AI on Cybersecurity and How C8 Secure Use This Technology

While AI technology is making it easier for cybercriminals to launch attacks, it’s also being used to prevent them. C8 Secure’s AI-powered cybersecurity solutions, including our Cloud WAAP (Web Application and API Protection), Security Information and Event Management (SIEM) and XDR (Extended Detection and Response) solutions, can analyse vast amounts of data in real-time and identify anomalous behaviour and potential threats before they occur.

C8 Secure use AI-powered anomaly detection and security analytics in C8 Secure’s SIEM and Cloud WAAP, which can identify unusual behaviour on a network or website that could indicate a cyber attack and alert our cybersecurity experts in real-time. This technology can learn from past attacks and adapt to new threats, making it a powerful tool for cybersecurity experts. C8 Secure’s WAAP can also run vulnerability scans against the website it protects, and suggests additional rules and configuration to harden the existing protection – essentially configuring itself! This is an important feature in the world of DevOps with CI/CD (Continuous Integration and Continuous Delivery). This concept helps businesses deliver new, working features earlier and more frequently. They can do this safe in the knowledge that C8 Secure’s WAAP offers blanket protection of their website.

C8 Secure’s AI-powered XDR (Extended Endpoint Protection and Response (anti-virus on steroids)), can detect and prevent malware attacks on individual devices. Our solution can analyse patterns of behaviour on a device and identify potential threats in real-time.

Ethics and Concerns Around AI and Cybercrime

While AI technology has the potential to revolutionise cybersecurity, it also raises ethical concerns. For example, AI-powered cybersecurity solutions can be used to monitor employees and collect sensitive information about them. This raises questions about privacy and the use of personal data.

Another concern is the potential for AI-powered cyber attacks to cause widespread damage. As AI technology becomes more advanced, cybercriminals may be able to launch attacks that are more sophisticated and harder to detect. This could lead to widespread disruption and chaos. This will require cybersecurity experts to constantly adapt and develop new technologies to stay ahead of cybercriminals.

Preparing for the Future of Cybercrime

To prepare for the future of cybercrime with AI, organisations need to take a proactive approach to cybersecurity. This means investing in AI-powered cybersecurity solutions that can detect and prevent cyber threats in real-time – like C8 Secure’s WAAP, SIEM and XDR solutions.

Organisations also need to prioritise cybersecurity training for employees, as human error and compromised credentials are a common cause of cyber attacks. In fact, according to Verizon’s 2022 Data Breaches Investigations Report, human error is responsible for a massive 82% of data breaches. Therefore, companies need to include training on how to identify phishing emails, create strong passwords, and use security software effectively.

Finally, organisations need to be prepared for the worst-case scenario. This means having a plan in place for how to respond to a cyber attack, including how to recover lost data and how to communicate with stakeholders. C8 Secure’s Cloud backup service combined with the managed XDR and SIEM solution can help detect, prevent and recover from cyber attacks, including ransomware.

Conclusion

AI technology is changing the game when it comes to cybercrime. While it’s making it easier for cybercriminals to launch attacks, it’s also being used to prevent them. As AI technology becomes more advanced, we can expect to see both more sophisticated cyber attacks and more powerful cybersecurity solutions.

To stay ahead of the curve, organisations need to take cybersecurity seriously and invest in the latest AI-powered technologies. By doing so, they can protect themselves from the ever-evolving threat of cybercrime and stay ahead of cybercriminals.

Are you protected? C8 Secure has full spectrum cyber security solutions to defend your infrastructure against a growing number of threats. Contact info@c8secure.com to learn more and speak to one of our experts.

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5 Steps to Reduce Your Risk of a Ransomware Attack

Listening to the news, you would be correct in being concerned about the extreme levels of ransomware attacks across the world. And, more importantly, whether your company is prepared to weather such an attack. To help address those concerns, Leon Allen, Cybersecurity Director at C8 Secure (www.c8secure.com), lists 5 key steps that companies can take to reduce their risk of a ransomware attack:

• Take Inventory “We don’t know what we don’t know”

Whilst this may sound simple, you would be very surprised to learn how organizations are directly infiltrated and exposed by simply not understanding what assets are within their enterprise. This starts from unsecured endpoints (such as laptops, switches, servers etc.) through business applications hosted in the cloud or in a data center.

To help with taking inventory, tools like asset discovery scanning and automated vulnerability scanning can be used. Furthermore, other good housekeeping measures involve reviewing your change management procedures, running a report on administrator accounts, verifying firewall rules, and validating VPN accounts.

• Define Risk “An ounce of prevention is worth a pound of cure”

It’s important to not get caught saying “I really wish I would have spent a few more security dollars”. Whilst it’s very much understood that security budgets are only typically increased following an incident, the level of threat in the world should help us all justify greater security investment.

Where you spend resources should be commensurate with your risk. If we don’t know the risks, it’s very hard to justify the application of those resources. Risks such as loss of revenue, regulatory concerns, impact to operations, your reputation, penalties, fines, contractual obligations, and data protection obligations need to be understood for your business.

Take stock of your data and cyber footprints and focus on the risks and cost to business that are applicable to you.

• Educate “To be armed is to be forewarned”

To make decisions on technical solutions that can help mitigate risk, we need to arm ourselves with an understanding of the available cybersecurity solutions out there, including how those solutions compare. This naturally leads into decisions around whether you bring this solution in-house or whether you outsource to a Managed Security Solutions Provider (MSSP).

Crucial from an education perspective, is the end users. This is still the most direct path in avoiding the proliferation of malware within your organisation. When combined with an effective security event monitoring and ransomware controls solution, providing regular security awareness training can go a long way in mitigating the likelihood of a ransomware attack.

• Plan “Security is a journey not a destination”

Far too many idioms that can be used here (and I’ll try and avoid using the classic ‘Rome’ one). Essentially, we are not going to solve every problem in a single instance. Use the risks identified in step 2 and prioritize. Tackle the list over time. It’s crucial at this stage to ensure you have security representation at a board level to ensure you have the required backing to address those risks.

• Execute

The time has come to execute your plan and start mitigating those risks. It’s critical that when you execute you are also testing, measuring, and quantifying along the way. Continually ask yourself the following questions:

• Was this investment worth it?
• Can I do this more cost effectively by outsourcing?
• Were other gaps/risks exposed?
• Was the result intended?

To keep your risks low, and returning to the adage that “security is a journey, not a destination”, it’s time to rinse and repeat steps one through five.

And remember, if you’re ever feeling overwhelmed, there are a multitude of companies out there who can help you. They would like nothing more than to have a conversation with you on how best to reduce your risk.

About the Author: As C8 Secure’s Cybersecurity Director, Leon oversees the full spectrum of security services including advanced cyber defense, applied cybersecurity solutions, and managed security services. Leon also leads the security innovation program, which discovers and delivers new and innovative cybersecurity technologies. He is a highly experienced IT professional with 17 years’ experience in the industry and holds a BEng degree in Software Engineering and a first-class Information Security Master’s Degree from City University, London.

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