Technology Advisor Blog

How hackers use AI for phishing attacks has become more advanced, making standard email security measures inadequate for protection. Modern cybercriminals leverage artificial intelligence to create convincing emails with flawless grammar, personal details from social media, and context-aware content that can deceive your most alert employees.  No more language barriers in cyber crime!

With the development of generative AI becoming more sophisticated for both positive and malicious intent, it’s no surprise there has been an increased surge of cybercrime happening all around the world.
In 2024 alone, we can see these reflect in the 33% increased losses in the US compared to the previous year 2023. According to the FBI Internet Crime Complaint Center (IC3), losses from cybercrime in 2024 exceeded $16 billion, with the top three causes of financial loss stemming from phishing, extortion, and personal data breaches. Important note: When it comes to data incidents, the difference in context is that data incidents are suspicious activity occurring across accounts. A data breach refers to the confirmation of systems being given unauthorized access with malicious intent with financial loss.

Did you know that 28% of consumers have fallen victim to credit card fraud in the last year? With nearly a third of people affected, it’s no surprise that 37% report feeling anxious about their credit card accounts being compromised. Families and career-driven individuals are especially on edge, with Gen X and Millennials (40%) sharing equally high levels of concern.

As we embrace the Spring season and the promise of April showers bringing May flowers, we also enter the busy and often stressful time of tax season. This period sees a high volume of sensitive financial information being exchanged as individuals file their taxes in hopes of securing refunds. Unfortunately, it’s also a time when scammers are at their most active, tirelessly seeking ways to deceive taxpayers and exploit their financial situations.

Perfect timing!  Here's a phishing email that just arrived, and a prime example to show a few tips on how to spot a problem email.  The subject of the email was "subscription renewal", and at the beginning of the month a lot of these may arrive in anyone's inbox.  This one immediately caught my eye because the preview text showed "Hello dear".  The other thing to note is that we've all been taught to not "click on the link", but this one invites us to call a number.  That's a common new tactic and in the never ending cat and mouse game as computer users become more aware of dangerous links, the cyber criminals just come up with a new twist.

It's Tax Season (with an extra month extension for COVID) which means its also the season for tax scams.

The FBI's Internet Crime Complaint Center (IC3) has just released its annual report.  Over 700,000 complaints were filed - an increase of more than 300,000 from the previous year -  and reported losses exceeded $4.2B.  

Stay alert when reading through your email.  Our Cybersecurity advice focuses on "layers" of security, and even with all the technology in place to protect you, the "bad actors" will always resort to new tricks.  End user education and vigilance are key.