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☆ Deepfake scams have robbed companies of millions. Experts warn it could get worse
▼ + stars: | 2024-05-28 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

A growing wave of deepfake scams has looted millions of dollars from companies worldwide, and cybersecurity experts warn it could get worse as criminals exploit generative AI for fraud. A deep fake is a video, sound, or image of a real person that has been digitally altered and manipulated, often through artificial intelligence, to convincingly misrepresent them. In one of the largest known case this year, a Hong Kong finance worker was duped into transferring more than $25 million to fraudsters using deepfake technology who disguised themselves as colleagues on a video call, authorities told local media in February. "The public accessibility of these services has lowered the barrier of entry for cyber criminals — they no longer need to have special technological skill sets," Fairman said. The volume and sophistication of the scams have expanded as AI technology continues to evolve, he added.

Persons: Arup, —, David Fairman, Fairman Organizations: CNBC Locations: Hong Kong, —

☆ A finance professional fired over watching pornography at work said it was because his computer was infected by a Trojan virus
▼ + stars: | 2024-03-08 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Read previewA financial services worker in Shanghai who was fired for browsing pornographic websites at work has sued his former employer, blaming a virus that infected his computer. Yang had worked for five years under his employer and earned about $2,360 a month until he was fired in August 2022, per the Shanghai High Court. Yang's employer said that Yang had breached his contract — which prohibits employees from consuming pornography at work — by accessing "little movies" on his work computer. But Yang submitted company records that showed his colleagues often downloaded movies or shows on their work computers outside business hours. He said that this may have caused his computer to become infected by Trojan malware, per the court.

Persons: —, Yang, Kaspersky Organizations: Service, Business, Shanghai High Court Locations: Shanghai, China

☆ AI might be reading your Slack messages: 'A lot of this becomes thought crime'
▼ + stars: | 2024-02-09 | by ( Hayden Field | ) www.cnbc.com time to read: +11 min

Aware's analytics tool — the one that monitors employee sentiment and toxicity — doesn't have the ability to flag individual employee names, according to Schumann. Speaking broadly about employee surveillance AI rather than Aware's technology specifically, Williams told CNBC: "A lot of this becomes thought crime." When including other types of content being shared, such as images and videos, Aware's analytics AI analyzes more than 100 million pieces of content every day. "It's always tracking real-time employee sentiment, and it's always tracking real-time toxicity," Schumann said of the analytics tool. Amba Kak, executive director of the AI Now Institute at New York University, worries about using AI to help determine what's considered risky behavior.

Persons: George Orwell, there's, Slack, Jeff Schumann, Schumann, Jutta Williams, Williams, chatbot, he's, Orwell, Rather, Amba Kak, Kak, they're Organizations: Istock, Microsoft, U.S, Walmart, Delta Air Lines, Mobile, Chevron, Starbucks, Nestle, AstraZeneca, CNBC didn't, Delta, CNBC, Humane Intelligence, Goldman Sachs Asset Management, Nationwide, CBS, Meta, New York University, Federal Trade Commission, Justice Department, Opportunity Commission Locations: Columbus , Ohio, Chevron, United States, Slack

But the amount of cybersecurity expertise on boards remains relatively low, at a time when boards are under increased scrutiny for security failings. In responses to that survey from 472 corporate board directors, 76% said their board had at least one cybersecurity expert, including 19% who said their board had at least three directors with cybersecurity expertise. The other 25 directors’ experience comes from either having held a senior government role in cybersecurity or from having led and/or founded a cybersecurity company. Whatever a board’s composition, most directors aren’t very confident in their board’s ability to handle a cybersecurity incident. Cybersecurity company leader: Nineteen directors have founded and / or led cybersecurity or data security companies.

Persons: Jamil Farshchi, don’t, ”, ’, Shamla Naidoo, Netskope, Naidoo, ” Naidoo, aren’t, Shankar Arumugavelu, Nir Zuk, Zuk Organizations: WSJ Pro Research, Securities and Exchange, Pro Research, National Association of Corporate, Business Machines, WSJ, Seagate Technology Holdings, Verizon, Palo Alto Networks, Juniper Networks Locations: cybersecurity, FactSet

☆ Cyber Chiefs Face Scrutiny and Challenges in 2023’s Uncertain Economy
▼ + stars: | 2023-01-04 | by ( James Rundle | Catherine Stupp | ) www.wsj.com time to read: +5 min

That leaves security teams, in real terms, working with fewer resources, Ms. Huth said. Inflation is pushing wage demands higher and the scarcity of cyber professionals—particularly within highly technical industries such as power—means security staff are in demand, Mr. Bojar said. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. Cyber staffs will need to vet third-party services while installing safeguards against new avenues hackers could exploit, Kohler’s Ms. Huth said. Retail giant Amazon.com Inc. hopes to grow its security team, said Chief Security Officer Stephen Schmidt, despite a company-wide hiring freeze and layoffs for up to 10,000 workers elsewhere in the company.

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