As online crime reaches record levels, artificial intelligence is making ransomware faster and easier to use, experts said at a House Financial Services Subcommittee hearing on Tuesday.
“We have great concerns about the future of AI and the directions it will take criminals, including more advanced deepfakes that will ultimately be the first step in a chain of ransomware attacks.” said Megan Stifel, chief strategy officer at the Security Institute. said the technology.
“Unfortunately, the risks continue to increase,” she says.
As attackers become more complex and the barrier to entry for ransomware deployments lowers, organizations increasingly face threats to the sensitive personal data of their employees and customers, Stifel said. Ta.
“As AI continues to become more sophisticated, cybercriminals will take advantage of these technological advances to exploit victims' vulnerabilities,” said Vice Chairman Young Kim (R-Calif.). said.
Ransomholders stole more than $1 billion from U.S. organizations in 2023, the highest amount on record, and the number of victims increased by 70 percent from the previous year, according to cryptocurrency tracking firm Chainalysis.
“Small businesses and Main Street are hurting,” said Rep. Roger Williams (R-Texas).
Jacqueline Corben, head of cyber threat intelligence at Chainalysis, said the frequency and severity of ransomware against U.S. organizations, especially financial institutions, will reach what she calls an “unprecedented milestone” in 2023. He said he did.
Ransomware gangs are now using sophisticated attacks for 'big game hunting', with 'up to 75% attacks' [ransom payments being] More than $1 million in 2023,” Corben said.
Lawmakers on the subcommittee also advocated for more cyber policies that would increase resources available to federal law enforcement, provide tax credits to organizations that take proactive cybersecurity measures, and make it easier to access cybersecurity insurance. They discussed measures such as encouraging training for security and investigative personnel.
“It's clear that the cybersecurity workforce is paramount to the safety and health of America's economy,” said Rep. Andy Barr (R-Ky.).
“AI and automation are at the heart of modern cyber defense, and it's important to educate and train tomorrow's cyber workforce,” said Daniel Sergire, senior consulting director for Unit 42, Palo Alto Networks' cybercrime force. ” in writing. to the committee.
While AI is enabling the bad guys, it's also helping law enforcement and cybersecurity experts track ransom seekers and build more resilient defenses, Sergil said.
“With tools that have machine learning and artificial intelligence, we can perfectly keep pace and stay on par,” Sergil said.
“The answer is to fight fire with fire,” he says.
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