Patrick Harr is CEO of SlashNext, the authority in phishing protection across all devices. Read Patrick Harr's full executive profile here.
Anyone can fall victim to complex BEC attacks these days, noted Eric Chudow, the NSA cybersecurity system threats and vulnerability analysis subject matter expert, in the recent: “Cyber threat actors are constantly evolving their techniques and harnessing new technologies to their advantage, including artificial intelligence. They are also finding it easier to deceive people who have transitioned to hybrid work environments and have fewer face-to-face interactions.
The attacker will typically engage in some sort of financial fraud, payroll diversion scam, executive impersonation or purchase order representative. The types and scope of BEC attacks have broadened significantly. Now, with the use of GenAI tools, the speed, personalization and scale of these attacks have significantlyAs the FBI IC3 Report reveals, sophisticated BEC attacks are becoming increasingly hard to spot and defend against.
In addition, GenAI tools such as WormGPT are being used to create, translate and personalize large volumes of BEC phishing emails at practically no cost. WormGPT is a GenAI tool that automates the creation of realistic fake emails, which are then personally targeted for each recipient.
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