One firm recently got attacked with a phishing fraud where its email system was breached, and an attacker posed as an employee and asked a customer to transfer money to another bank account.
CNA's Marcus Tan sitting through a simulation of a deepfake Zoom call with CEO of Straits Interactive Kevin Shepherdson.SINGAPORE: A majority of small and medium enterprises have turned to artificial intelligence to improve their operations, but may not be doing enough to ensure their security.
“Many businesses are concerned about whether they can be hacked, and whether they would lose money financially, especially when a breach happens,” he said. “More and more businesses are attacked with variations of that. So you can imagine with the advent of even better phishing fraud, using deepfakes and using AI, that will get even worse,” he said.
The main advisory for companies from CSA is to adopt three steps to avoid such traps: Assess the message, analyse the audio and visuals, and authenticate the content. FILE PHOTO: AI letters are placed on computer motherboard in this illustration taken June 23, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoMr Shepherdson said that the biggest concern with the use of AI in the corporate context is that firms are using the free version of AI tool ChatGPT.
There is also the danger posed by hundreds of AI apps available that claim that data uploaded will be protected, when in fact it is not, he added.
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