Technology continues to advance rapidly, with Artificial Intelligence (AI) playing an increasingly prominent role in various aspects of our modern world. As a result, the battle against cybercrime has also intensified. However, cybercriminals are becoming more sophisticated, and new technologies are emerging every day. This means that criminals are constantly searching for easier targets to carry out their malicious intentions. The line between legitimate and illegitimate communication is becoming increasingly blurred, providing cybercriminals with a better hiding place and making it harder to prevent victimization.
The evolving landscape of cyber threats
In the past, it was relatively easy to detect phishing emails. However, there have been significant changes over time. Scam emails and text messages have evolved, with fewer spelling and grammatical errors, more personalized salutations, and harder-to-identify URLs. Nowadays, AI is playing a role in cybercrimes, making it difficult to detect fraudulent cybercommunications through social engineering techniques, deepfakes, and fake texts. Technology now overlooks spelling and grammatical errors and personalizes communication by addressing individuals directly.
Instead of receiving generic greetings, recipients of fraudulent communication now encounter criminals who know their first and last names, thanks to the copying of letterheads and the creation of email templates. Social engineering techniques like vishing (voice phishing) and smishing (SMS phishing) are still prevalent. Scammers create fake communications that appear to come from legitimate sources. They use technology to make their calls or messages seem genuine, making it harder for victims to identify unusual communications. Previously, receiving a call from an unknown international number would trigger a sense of alertness, but now scammers have access to more detailed information about the numbers they call, such as the banking institution, postal service, or government agencies. Vishing calls are no longer limited to requests for bank account numbers. Scammers now impersonate government officials, creating fictional emergencies that cause people to panic and act impulsively. Their ultimate goal is fraud, whether it be identity theft or draining bank accounts. Technology plays a crucial role for both cybercriminals and those fighting against them.
Defensive measures: Organizational and individual
Protecting oneself from scammers requires a combination of technology and reliance on trusted individuals and resources. Vigilance is crucial. Organizations should implement regular cybersecurity training programs to ensure that everyone understands the seriousness of cyber incidents. Strong passwords, multi-factor authentication, biometrics, and other robust security measures can significantly reduce data loss, identity theft, and financial damages.
Another important defense measure is practicing online hygiene, which involves limiting interaction with online social spaces and removing personal information from websites. Conducting a quick search of oneself on the internet can reveal unintended exposure of personal information to the public. It is essential to regularly review social media and online accounts, deactivate unnecessary accounts, and share information cautiously with trusted individuals. Creating separate personal and professional accounts is also advisable. These practices contribute to good online hygiene as a consumer. Similarly, as consumers, it is wise to be vigilant and follow these principles to protect oneself from cybercrime. To avoid falling victim to scams, one should keep in mind the following basic tips:
1. Assume that every call or SMS you receive is likely to be malicious.
2. Do not share your private information with unverified third parties.
3. If in doubt, call the institution back using a number you are certain is from an official source.
4. Never provide passwords, account numbers, or credit card numbers unless absolutely necessary.
5. Avoid clicking on unverified links.
6. Avoid taking immediate action, especially if it is portrayed as urgent.
7. Always verify the sources before taking any action.
It is important to remember that banks never request credit card information or seek personal banking details over the phone. Messages that ask you to change your password, click on links, or provide banking information should not be trusted. Seek clarity or expert guidance if you receive such messages. Fraud encompasses a broader range of crimes beyond internet scams and includes financial crimes like money laundering, terrorist financing, bribery, and corruption. In the next section of this article, we will explore fraud from a broader perspective and examine how different types of fraud infiltrate society and how criminals exploit legitimate third-party intermediaries.
This article was originally published in the Times of Malta.
