Bad actors are sure to harness AI for a range of attacks, including some we cannot even envision today. Meantime, fraudulent instruction scams appear to be increasing.
“In early June, two instances of voicemail impersonation were reported to Rob Ferrini, cyber insurance program manager at McGowanPRO, headquartered in Framingham, Massachusetts, with 5,000 cyber-insured clients covered by its insurance partners.
One led to an open claim under investigation, in which the insured was an accounting firm and an accountant there received a voicemail from one of his business customers to change the instructions for a vendor and make payment on a $77,000 invoice. ‘The accountant then called their client to verify, and his client reported that he got the same voicemail from their vendor account, so it’s probably OK. It ended up that the accountant’s client paid a $77,000 invoice to a fraudulent bank account,’ Ferrini says.”
Cyber liability insurers are beginning to take notice of the threats posed by deepfakes. That may mean changes in insurance policies and what it takes to qualify for one.
Source: How the new deepfake reality will impact cyber insurance