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   AI deepfakes estimated to cause $40 billion in losses by 2027   
      
   Date:   
   Thu, 16 Jan 2025 12:09:00 +0000   
      
   Description:   
   Blackberrys Global Threat Intelligence report reveals critical infrastructure   
   and deepfake attacks are on the rise.   
      
   FULL STORY   
      
   Critical infrastructure attacks continue to dominate the cybersecurity   
   conversation, with Blackberrys Global Threat Intelligence Report revealing   
   nearly 600,000 attacks were levied against critical infrastructure attacks   
   between July-September 2024.    
      
   The finance sector continues to face a huge amount of cyberattacks that could   
   leave it on its knees , and is the target of 45% of these attacks, with   
   healthcare organizations close behind making up 30% of incidents, followed by   
   17% for Government services. Downtime is costly for these sectors, making    
   them more likely to pay a ransom to restore systems quickly - making them an   
   attractive target.    
      
   The rise of AI has inevitably led to a rise in cyberattacks, but also in the   
   particularly predictable rise in deepfake scams. These scams use an   
   AI-generated image, video, or voice to impersonate an executive, or to   
   infiltrate companies. This is projected to lead to a staggering $40 billion   
   loss by just 2027, highlighting it as a growing threat.   
      
   Improving threats, improving tools   
      
   Deepfakes are eroding trust and present an unprecedented challenge for   
   stakeholders who can no longer be 100% confident in the authenticity of   
   executive communications.    
      
   This has outlined the serious need for deepfake regulatory frameworks , like   
   the emerging US No Fraud AI Act and the Canadian legislation regarding   
   non-consensual media.    
      
   Unsurprisingly, ransomware groups also shape the threat landscape, with   
   infamous groups like LockBit and ALPHV proving to be silent but deadly by   
   evading detection.    
      
   Our attack surface has never been wider, with threat actors and nation states   
   broadening their horizons into cyber espionage attacks, while ransomware   
   groups are becoming more sophisticated in their campaigns, said Ismael   
   Valenzuela, Vice President of Threat Research & Intelligence at BlackBerry.    
      
   However, weve also never been better prepared. We have the tools, technology,   
   and protocols to protect ourselves and mitigate the impact of attacks, and    
   our industry is equipped to keep up with changes in threat actor methodology.   
      
   ======================================================================   
   Link to news story:   
   https://www.techradar.com/pro/security/ai-deepfakes-estimated-to-cause-usd40-b   
   illion-in-losses-by-2027   
      
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