Cybersecurity Fraud Is Only Getting Worse

The explosion of AI technology, machine learning and ChatGPT has led to many positive outcomes for consumers and businesses alike; however, it has also advanced bad actor’s ability to create phishing schemes, viruses, and malware at an advanced rate.

Advanced Persistent Threats (APT)

APT are malicious groups of people or corrupt governments involved in long-term attempts to compromise networks with the intention of striking a the ‘right time’ to cripple a network and steal data.

AI Voice Cloning

Microsoft’s AI Program, for example, can clone your voice using only a 3-second audio clip.  While impressive, the technology is extremely concerning as it would make it easy for cybercriminals to clone people’s voices for identity fraud and scam purposes.

The most prevalent voice clone scams are directed at older adults with seniors reported losing more than $1.6 billion to scam fraud last year, though the actual losses could be as high as $48 billion, according to the Senate Special Committee on Aging.

Protecting Yourself and Business- Tips from the FBI

Staying vigilant by educating yourself and employees about new cybersecurity threats will help reduce your risks. Unfortunately, industry analyst say it’s not “if” but “when” that you or a loved one will be targeted in some sort of scam or fraud scheme.

Time is of the Essence

Alert the FBI or local law enforcement within seven (7) days of the scam incident.  Statistics have shown consumers and businesses have the greatest chance of recovering the lost currency or data within the first seven days after the incident, however, you should aim to report the incident as soon as possible- within 3 days in some cases.

10 Best Practices for Cybersecurity Safety

1. Stay Vigilant- It’s not if, but when.
2. Back-ups, back-ups, back-ups!  It is recommended to have at least two backups that are kept offline.
3. Invest in Cybersecurity Insurance.
4. Use MFA on all accounts, especially bank accounts.
5. Participate in FBI Alerts and stay alert to cyber tactics, techniques, and procedures (TTP).
6. Hire network monitoring companies.
7. Ensure patches, anti-virus software is current.
8. Encrypt cloud storage data.
9. Third party forensics.
10. Use password managers. (Ex- Keeper, Dashlane).

Cybercrime Programs

Infragard
Infragard is an FBI-led community outreach program that meets with high-targeted private industries twice a year (ex- healthcare, communications, supply chain, transportation services, etc.) to share cybersecurity tips, new best practices, and any new threats or schemes to be aware of.  Any business can join Infragard by asking for the Infragrad Coordinator.

IC3.gov
IC3.gov is a FBI website to share and collaborate information surrounding cybercrime, ransomware, fraud, and scams.  Essentially the IC3 is a fraud complaint center that compares new and previous complaints to track for criminal patterns.  IC3.gov works with other agencies to help track down criminals.

FBI Cyber and Crime Alerts
Subscribe to FBI’s alert system at https://delivery.fbi.gov/subscribe.

Additional Resources

Identity Theft
https://www.identitytheft.gov

Cybersecurity and Infrastructure Security Agency (CISA) National Cyber Awareness System
https://www.cisa.gov

Federal Communications Commission Robocalls, Spoofing
https://www.fcc.gov/consumers/guide/stop-unwated-robocalls-and-texts

For more information, or to implement a cybersecurity product or service, contact ACC Telecom.  ACC Telecom is a leading business communications service and system provider headquartered in the mid-Atlantic and serving businesses nationwide.