Cybercrime Trends for 2024 – the year of Deception!

Cybercrime Trends for 2024 – the year of Deception!

Cybercrime in 2024 will be the year of deception according to IBM. What is causing this new trend? Generative AI, and new emerging technologies such as Deepfake audio, images and video as well as the emergence of cybercrime rapidly scaling.

Generative AI really took off with the launch of Chat GPT in November of 2022 and is continuing to morph quickly as businesses use these capabilities to introduce more efficient processes within their organizations. In 2023 we saw the emergence of new Generative AI options such as Bing Chat, and Google Bard that act similarly to Chat GPT. We also saw new platforms using Generative AI in unique ways, such as, DALL-E 3 an OpenAI product that can create images and artwork from text prompts and GitHub Copilot an AI-powered coding tool that suggests code completions among other options. However, we also saw the emergence of new tools for cybercriminals to take advantage of with the introduction of WormGPT and FraudGPT.

Deepfake technology, are very sophisticated fraudulent fake voices, images and video that can be used to convince a human that they are listening and talking to someone they trust such as their boss. This technology first emerged in cybercrime in 2019 with a few cases but it is starting to expand.

Cybercrime has turned into a global business, with the dark web as the marketplace for criminals to purchase every tool they need to carry out cyber attacks. Imagine Shopify only designed for criminals. This is why we are seeing such an explosion of cybercrime and why cybercrime is often referred to as the world’s 3rd global economy according to Cybersecurity Ventures.

Here is a list of what is trending in cybercrime for 2024

Bad News

    • Increasing use of audio fakes
    • Emergence of deep fakes
    • Cybercriminals using AI can now make more effective use of the data they steal by being able to filter, correlate and categorize the stolen data for more targeted and effective attacks.
    • Enterprises are going to see a significant increase in identity-based attacks using stolen employee credentials.
    • Ransomware attacks will be more complex and negotiations more aggressive.

Good News

    • Generative AI will play a bigger role in helping to combat cybercriminal attacks.
    • More effective security software tools are available to help enterprises update their data protection and privacy practices.
    • Zero Trust will be a trend for corporate boards to protect their businesses from cyber attacks by elevating cybersecurity from an IT concern to a core function of their businesses making cybersecurity a top priority.

Want to lean more?

Cybercrime Trends – Forbes  IBM  Venturebeat

Audio Spoofing – Forbes

Deep Fakes – The Guardian   USA Today   Business Insider