McAfee Warns of Deepfake Surge in 2024
Introduction
According to a new McAfee survey, 88% of American customers believe that cybercriminals will utilize artificial intelligence to "create compelling online scams" over the festive period. In the meanwhile, 31% believe it will be more difficult to determine whether messages from merchants or delivery services are genuine, while 57% believe phishing emails and texts will be more credible. The study, which was conducted in September 2023 in the United States, Australia, India, the United Kingdom, France, Germany, and Japan, yielded 7,100 responses. Some people may decide to cut back on their online shopping as a result of their worries about AI; among those surveyed, 19% stated they would do so this year.
In 2024, McAfee predicts a rise in AI-driven scams on social media, with cybercriminals using advanced tools to create convincing fake content, exploiting celebrity and influencer identities. Deepfake technology may worsen cyberbullying, enabling the creation of realistic fake content. Charity fraud is expected to rise, leveraging AI to set up fake charity sites. AI's use by cybercriminals will accelerate the development of advanced malware, phishing, and voice/visual cloning scams targeting mobile devices. The 2024 Olympic Games are seen as a breeding ground for scams, with cybercriminals targeting fans for tickets, travel, and exclusive content.
AI Scams' Increase on Social Media
Cybercriminals plan to use strong artificial intelligence capabilities to control social media by 2024. These applications become networking goldmines because they make it possible to create realistic images, videos, and audio. Anticipate the exploitation of influencers and popular identities by cybercriminals.
AI-powered Deepfakes and the Rise in Cyberbullying
The negative turn that cyberbullying might take in 2024 with the use of counterfeit technology is one trend to be concerned about. This cutting-edge technique is freely accessible to youngsters, who can use it to produce eerily convincing synthetic content that compromises victims' privacy, identities, and wellness.
In addition to sharing false information, cyberbullies have the ability to alter public photographs and re-share edited, detailed versions, which exacerbates the suffering done to children and their families. The study issues a warning, stating that deepfake technology would probably cause online harassment to take a negative turn. With this sophisticated tool, young adults may now generate frighteningly accurate synthetic content in addition to using it for fun. The increasing severity of these deceptive pictures and phrases can cause serious, long-lasting harm to children and their families, impairing their identity, privacy, and overall happiness.
Evolvement of GenAI Fraud in 2023
We simply cannot get enough of these persistent frauds and fake emails. People in general are now rather adept at [recognizing] those that are used extensively. But if they become more precise, such as by utilizing AI-generated audio to seem like a loved one's distress call or information that is highly personal to the person, users should be much more cautious about them. The rise in popularity of generative AIs brings with it a new wrinkle, as hackers can utilize these systems to refine their attacks:
- Writing communications more skillfully in order to deceive consumers into sending sensitive information, clicking on a link, or uploading a file.
- Recreate emails and business websites as realistically as possible to prevent arousing concern in the minds of the perpetrators.
- People's faces and voices can be cloned, and deepfakes of sounds or images can be created that are undetectable to the target audience. a problem that has the potential to greatly influence schemes like CEO fraud.
- Because generative AIs can now hold conversations, and respond to victims efficiently.
- Conduct psychological manipulation initiatives more quickly, with less money spent, and with greater complexity and difficulty in detecting them. AI generative already in use in the market can write texts, clone voices, or generate images and program websites.
AI Hastens the Development of Malware and Scams
Even while artificial intelligence (AI) has many uses, cybercriminals are becoming more and more dangerous with it. Artificial intelligence facilitates the rapid creation of sophisticated malware, illicit web pages, and plausible phishing and smishing emails. As these risks become more accessible, mobile devices will be attacked more frequently, with a particular emphasis on audio and visual impersonation schemes.
Olympic Games: A Haven for Scammers
The 2024 Olympic Games are seen as a breeding ground for scams, with cybercriminals targeting fans for tickets, travel, and exclusive content. Cybercriminals are skilled at profiting from big occasions, and the buzz that will surround the 2024 Olympic Games around the world will make it an ideal time for scams. Con artists will take advantage of customers' excitement by focusing on followers who are ready to purchase tickets, arrange travel, obtain special content, and take part in giveaways. During this prominent event, vigilance is essential to avoid an invasion of one's personal records and financial data.
Development of McAfee’s own bot to assist users in screening potential scammers and authenticators for messages they receive
Precisely such kind of technology is under the process of development by McAfee. It's critical to emphasize that solving the issue is a continuous process. AI is being manipulated by bad actors and thus, one of the tricksters can pull off is to exploit the fact that consumers fall for various ruses as parameters to train advanced algorithms. Thus, the con artists may make use of the gadgets, test them on big user bases, and improve with time.
Conclusion
According to the McAfee report, 88% of American customers are consistently concerned about AI-driven internet frauds that target them around the holidays. Social networking poses a growing threat to users' privacy. By 2024, hackers hope to take advantage of AI skills and use deepfake technology to exacerbate harassment. By mimicking voices and faces for intricate schemes, generative AI advances complex fraud. The surge in charitable fraud affects both social and financial aspects, and the 2024 Olympic Games could serve as a haven for scammers. The creation of McAfee's screening bot highlights the ongoing struggle against developing AI threats and highlights the need for continuous modification and increased user comprehension in order to combat increasingly complex cyber deception.
References
- https://www.fonearena.com/blog/412579/deepfake-surge-ai-scams-2024.html
- https://cxotoday.com/press-release/mcafee-reveals-2024-cybersecurity-predictions-advancement-of-ai-shapes-the-future-of-online-scams/#:~:text=McAfee%20Corp.%2C%20a%20global%20leader,and%20increasingly%20sophisticated%20cyber%20scams.
- https://timesofindia.indiatimes.com/gadgets-news/deep-fakes-ai-scams-and-other-tools-cybercriminals-could-use-to-steal-your-money-and-personal-details-in-2024/articleshow/106126288.cms
- https://digiday.com/media-buying/mcafees-cto-on-ai-and-the-cat-and-mouse-game-with-holiday-scams/
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Introduction
Against the dynamic backdrop of Mumbai, where the intersection of age-old markets and cutting-edge innovation is a daily reality, an initiative of paramount importance has begun to take shape within the hallowed walls of the Reserve Bank of India (RBI). This is not just a tweak, a nudge in policy, or a subtle refinement of protocols. What we're observing is nothing short of a paradigmatic shift, a recalibration of systemic magnitude, that aims to recalibrate the way India's financial monoliths oversee, manage, and secure their informational bedrock – their treasured IT systems.
On the 7th of November, 2023, the Reserve Bank of India, that bastion of monetary oversight and national fiscal stability, unfurled a new doctrine – the 'Master Direction on Information Technology Governance, Risk, Controls, and Assurance Practices.' A document comprehensive in its reach, it presents not merely an update but a consolidation of all previously issued guidelines, instructions, and circulars relevant to IT governance, plaited into a seamless narrative that extols virtues of structured control and unimpeachable assurance practices. Moreover, it grasps the future potential of Business Continuity and Disaster Recovery Management, testaments to RBI's forward-thinking vision.
This novel edict has been crafted with a target audience that spans the varied gamut of financial entities – from Scheduled Commercial Banks to Non-Banking Financial Companies, from Credit Information Companies to All India Financial Institutions. These are the juggernauts that keep the economic wheels of the nation churning, and RBI's precision-guided document is an unambiguous acknowledgment of the vital role IT holds in maintaining the heartbeat of these financial bodies. Here lies a riveting declaration that robust governance structures aren't merely preferred but essential to manage the landscape of IT-related risks that balloon in an era of ever-proliferating digital complexity.
Directive Structure
The directive's structure is a combination of informed precision and intuitive foresight. Its seven chapters are not simply a grouping of topics; they are the seven pillars upon which the temple of IT governance is to be erected. The introductory chapter does more than set the stage – it defines the very reality, the scope, and the applicability of the directive, binding the reader in an inextricable covenant of engagement and anticipation. It's followed by a deep dive into the cradle of IT governance in the second chapter, drawing back the curtain to reveal the nuanced roles and defiant responsibilities bestowed upon the Board of Directors, the IT Strategy Committee, the clairvoyant Senior Management, the IT Steering Committee, and the pivotal Head of IT Function.
As we move along to the third chapter, we encounter the nuts and bolts of IT Infrastructure & Services Management. This is not just a checklist; it is an orchestration of the management of IT services, third-party liaisons, the calculus of capacity management, and the nuances of project management. Here terms like change and patch management, cryptographic controls, and physical and environmental safeguards leap from the page – alive with earnest practicality, demanding not just attention but action.
Transparency deepens as we glide into the fourth chapter with its robust exploration of IT and Information Security Risk Management. Here, the demand for periodic dissection of IT-related perils is made clear, along with the edifice of an IT and Information Security Risk Management Framework, buttressed by the imperatives of Vulnerability Assessment and Penetration Testing.
The fifth chapter presents a tableau of circumspection and preparedness, as it waxes eloquent on the necessity and architecture of a well-honed Business Continuity Plan and a disaster-ready DR Policy. It is a paean to the anticipatory stance financial institutions must employ in a world fraught with uncertainty.
Continuing the narrative, the sixth chapter places the spotlight on Information Systems Audit, delineating the precise role played by the Audit Committee of the Board in ushering in accountability through an exhaustive IS Audit of the institution's virtual expanse.
And as we perch on the final chapter, we're privy to the 'repeal and other provisions' of the directive, underscoring the interplay of other applicable laws and the interpretation a reader may yield from the directive's breadth.
Conclusion
To proclaim that this directive is a mere step forward in the RBI's exhaustive and assiduous efforts to propel India's financial institutions onto the digital frontier would be a grave understatement. What we are witnessing is the inception of a more adept, more secure, and more resilient financial sector. This directive is nothing less than a beacon, shepherding in an epoch of IT governance marked by impervious governance structures, proactive risk management, and an unyielding commitment to the pursuit of excellence and continuous improvement. This is no ephemeral shift - this is, indisputably, a revolutionary stride into a future where confidence and competence stand as the watchwords in navigating the digital terra incognita.
References:
Introduction
In a world teeming with digital complexities, where information wends through networks with the speed and unpredictability of quicksilver, companies find themselves grappling with the paradox of our epoch: the vast potential of artificial intelligence (AI) juxtaposed with glaring vulnerabilities in data security. It's a terrain fraught with risks, but in the intricacies of this digital age emerges a profound alchemy—the application of AI itself to transmute vulnerable data into a repository as secure and invaluable as gold.
The deployment of AI technologies comes with its own set of challenges, chief among them being concerns about the integrity and safety of data—the precious metal of the information economy. Companies cannot afford to remain idle as the onslaught of cyber threats threatens to fray the fabric of their digital endeavours. Instead, they are rallying, invoking the near-miraculous capabilities of AI to transform the very nature of cybersecurity, crafting an armour of untold resilience by empowering the hunter to become the hunted.
The AI’s Untapped Potential
Industries spanning the globe, varied in their scopes and scales, recognize AI's potential to hone their processes and augment decision-making capabilities. Within this dynamic lies a fertile ground for AI-powered security technologies to flourish, serving not merely as auxiliary tools but as essential components of contemporary business infrastructure. Dynamic solutions, such as anomaly detection mechanisms, highlight the subtle and not-so-subtle deviances in application behaviour, shedding light on potential points of failure or provoking points of intrusion, turning what was once a prelude to chaos into a symphony of preemptive intelligence.
In the era of advanced digital security, AI, exemplified by Dynatrace, stands as the pinnacle, swiftly navigating complex data webs to fortify against cyber threats. These digital fortresses, armed with cutting-edge AI, ensure uninterrupted insights and operational stability, safeguarding the integrity of data in the face of relentless cyber challenges.
India’s AI Stride
India, a burgeoning hub of technology and innovation, evidences AI's transformative powers within its burgeoning intelligent automation market. Driven by the voracious adoption of groundbreaking technological paradigms such as machine learning (ML), natural language processing (NLP), and Automated Workflow Management (AWM), sectors as disparate as banking, finance, e-commerce, healthcare, and manufacturing are swept up in an investment maelstrom. This is further bolstered by the Indian government’s supportive policies like 'Make in India' and 'Digital India'—bold initiatives underpinning the accelerating trajectory of intelligent automation in this South Asian powerhouse.
Consider the velocity at which the digital universe expands: IDC posits that the 5 billion internet denizens, along with the nearly 54 billion smart devices they use, generate about 3.4 petabytes of data each second. The implications for enterprise IT teams, caught in a fierce vice of incoming cyber threats, are profound. AI's emergence as the bulwark against such threats provides the assurance they desperately seek to maintain the seamless operation of critical business services.
The AI integration
The list of industries touched by the chilling specter of cyber threats is as extensive as it is indiscriminate. We've seen international hotel chains ensnared by nefarious digital campaigns, financial institutions laid low by unseen adversaries, Fortune 100 retailers succumbing to cunning scams, air traffic controls disrupted, and government systems intruded upon and compromised. Cyber threats stem from a tangled web of origins—be it an innocent insider's blunder, a cybercriminal's scheme, the rancor of hacktivists, or the cold calculation of state-sponsored espionage. The damage dealt by data breaches and security failures can be monumental, staggering corporations with halted operations, leaked customer data, crippling regulatory fines, and the loss of trust that often follows in the wake of such incidents.
However, the revolution is upon us—a rising tide of AI and accelerated computing that truncates the time and costs imperative to countering cyberattacks. Freeing critical resources, businesses can now turn their energies toward primary operations and the cultivation of avenues for revenue generation. Let us embark on a detailed expedition, traversing various industry landscapes to witness firsthand how AI's protective embrace enables the fortification of databases, the acceleration of threat neutralization, and the staunching of cyber wounds to preserve the sanctity of service delivery and the trust between businesses and their clientele.
Public Sector
Examine the public sector, where AI is not merely a tool for streamlining processes but stands as a vigilant guardian of a broad spectrum of securities—physical, energy, and social governance among them. Federal institutions, laden with the responsibility of managing complicated digital infrastructures, find themselves at the confluence of rigorous regulatory mandates, exacting public expectations, and the imperative of protecting highly sensitive data. The answer, increasingly, resides in the AI pantheon.
Take the U.S. Department of Energy's (DOE) Office of Cybersecurity, Energy Security, and Emergency Response (CESER) as a case in point. An investment exceeding $240 million in cybersecurity R&D since 2010 manifests in pioneering projects, including AI applications that automate and refine security vulnerability assessments, and those employing cutting-edge software-defined networks that magnify the operational awareness of crucial energy delivery systems.
Financial Sector
Next, pivot our gaze to financial services—a domain where approximately $6 million evaporates with each data breach incident, compelling the sector to harness AI not merely for enhancing fraud detection and algorithmic trading but for its indispensability in preempting internal threats and safeguarding knightly vaults of valuable data. Ventures like the FinSec Innovation Lab, born from the collaborative spirits of Mastercard and Enel X, demonstrate AI's facility in real-time threat response—a lifeline in preventing service disruptions and the erosion of consumer confidence.
Retail giants, repositories of countless payment credentials, stand at the threshold of this new era, embracing AI to fortify themselves against the theft of payment data—a grim statistic that accounts for 37% of confirmed breaches in their industry. Best Buy's triumph in refining its phishing detection rates while simultaneously dialling down false positives is a testament to AI's defensive prowess.
Smart Cities
Consider, too, the smart cities and connected spaces that epitomize technological integration. Their web of intertwined IoT devices and analytical AI, which scrutinize the flows of urban life, are no strangers to the drumbeat of cyber threat. AI-driven defense mechanisms not only predict but quarantine threats, ensuring the continuous, safe hum of civic life in the aftermath of intrusions.
Telecom Sector
Telecommunications entities, stewards of crucial national infrastructures, dial into AI for anticipatory maintenance, network optimization, and ensuring impeccable uptime. By employing AI to monitor the edges of IoT networks, they stem the tide of anomalies, deftly handle false users, and parry the blows of assaults, upholding the sanctity of network availability and individual and enterprise data security.
Automobile Industry
Similarly, the automotive industry finds AI an unyielding ally. As vehicles become complex, mobile ecosystems unto themselves, AI's cybersecurity role is magnified, scrutinizing real-time in-car and network activities, safeguarding critical software updates, and acting as the vanguard against vulnerabilities—the linchpin for the assured deployment of autonomous vehicles on our transit pathways.
Conclusion
The inclination towards AI-driven cybersecurity permits industries not merely to cope, but to flourish by reallocating their energies towards innovation and customer experience enhancement. Through AI's integration, developers spanning a myriad of industries are equipped to construct solutions capable of discerning, ensnaring, and confronting threats to ensure the steadfastness of operations and consumer satisfaction.
In the crucible of digital transformation, AI is the philosopher's stone—an alchemic marvel transmuting the raw data into the secure gold of business prosperity. As we continue to sail the digital ocean's intricate swells, the confluence of AI and cybersecurity promises to forge a gleaming future where businesses thrive under the aegis of security and intelligence.
References
- https://timesofindia.indiatimes.com/gadgets-news/why-adoption-of-ai-may-be-critical-for-businesses-to-tackle-cyber-threats-and-more/articleshow/106313082.cms
- https://blogs.nvidia.com/blog/ai-cybersecurity-business-resilience/
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Introduction
India's broadcasting sector has undergone significant changes in recent years with technological advancements such as the introduction of new platforms like Direct-to-Home (DTH), Internet Protocol television (IPTV), Over-The-Top (OTT), and integrated models. Platform changes, emerging technologies and advancements in the advertising space have all necessitated the need for new governing laws that take these developments into account.
The Union Government and concerned ministry have realised there is a pressing need to develop a robust regulatory framework for the Indian broadcasting sector in the country and consequently, a draft Broadcasting Services (Regulation) Bill, 2023, was released in November 2023 and the Union Ministry of Information and Broadcasting (MIB) had invited feedback and comments from different stakeholders. The draft Bill aims to establish a unified framework for regulating broadcasting services in the country, replacing the current Cable Television Networks (Regulation) Act, 1995 and other policy guidelines governing broadcasting.
Recently a new draft of an updated ‘Broadcasting Services (Regulation) Bill, 2024,’ was shared with selected broadcasters, associations, streaming services, and tech firms, each marked with their identifier to prevent leaks.
Key Highlights of the Updated Broadcasting Bill
As per the recent draft of the Broadcasting Services (Regulation) Bill, 2024, social media accounts could be identified as ‘Digital News Broadcasters’ and can be classified within the ambit of the regulation. Some of the major aspects of the new bill were first reported by Hindustan Times.
The new draft of the Broadcasting Services (Regulation) Bill, 2024, proposes that individuals who regularly upload videos to social media, make podcasts, or write about current affairs online could be classified as Digital News Broadcasters. This entails that YouTubers and Instagrammers who receive a share of advertising revenue or monetize their social media presence through affiliate activities will be regulated as Digital News Broadcasters. This includes channels, podcasts, and blogs that cover news and utilise Google AdSense. They must comply with a Programme Code and Advertising Code.
Online content creators who do not provide news or current affairs but provide programming and curated programs beyond a certain threshold will be treated as OTT broadcasters in case they provide content licensed or live through a website or social media platform.
The new version also introduces new obligations for intermediaries and social media intermediaries related to streaming services and digital news broadcasters, and, in contrast to the last version circulated in 2023, the latest also carries provisions targeting online advertising. In the context of streaming services, OTT broadcasting services are no longer a part of the definition of "internet broadcasting services." The definition of OTT broadcasting service has also been revised, allowing content creators who regularly upload their content to social media to be considered as OTT broadcasting services.
The new definition of an 'intermediary' includes social media intermediaries, advertisement intermediaries, internet service providers, online search engines, and online marketplaces.
The new Bill allows the government to prescribe different due diligence guidelines for social media platforms and online advertisement intermediaries and requires all intermediaries to provide appropriate information, including information pertaining to the OTT broadcasters and Digital News Broadcasters on their platform, to the central government to ensure compliance with the act. This entails the liability provisions for social media intermediaries which do not provide information “pertaining to OTT Broadcasters and Digital News Broadcasters” on its platforms for compliance. This suggests that when information is sought about a YouTube, Instagram or X/Twitter user, the platform will need to provide this information to the Indian government.
A new draft bill contains specific provisions governing ‘Online Advertising’ and to do so it creates the category of 'advertising intermediaries'. These intermediaries enable the buying or selling of advertisement space on the internet or placing advertisements on online platforms without endorsing the advertisement.
Final Words
The Indian Ministry of Information and Broadcasting (MIB) is making efforts to propose robust regulatory changes to the country's new-age broadcast sector, which would cover the specific provisions for Digital News Broadcasters, OTT Broadcasters and Intermediaries. The proposed bill defining the scope and obligation of each.
However, these changes will have significant implications for press and creative freedom. The changes in the new version of the updated bill from its previous draft expanded the applicability of the bill to a larger number of key actors, this move brought ‘content creators’ under the definition of OTT or digital news broadcasters, which raises concerns about overly rigid provisions and might face criticism from media representative perspectives.
According to recent media reports, the Broadcasting Services (Regulation) Bill, 2024 version has been withdrawn by the I&B ministry facing criticism from relevant stakeholders.
The ministry must take due consideration and feedback from concerned stakeholders and place reliance on balancing individual rights while promoting a healthy regulated landscape considering the needs of the new-age broadcasting sector.
References:
- https://www.medianama.com/2024/07/223-india-broadcast-bill-online-creators/#:~:text=Online%20content%20creators%20that%20do,or%20a%20social%20media%20platform.
- https://www.hindustantimes.com/india-news/new-draft-of-broadcasting-bill-news-influencers-may-be-classified-as-broadcasters-101721961764666.html
- https://www.hindustantimes.com/india-news/broadcasting-bill-still-in-drafting-stage-mib-tells-rs-101722058753083.html
- https://www.newslaundry.com/2024/07/29/indias-new-broadcast-bill-now-has-compliance-requirements-for-youtubers-and-instagrammers
- https://m.thewire.in/article/media/social-media-videos-text-digital-news-broadcasting-bill
- https://mib.gov.in/sites/default/files/Public%20Notice_07.12.2023.pdf
- https://news.abplive.com/news/india/centre-withdraws-draft-of-broadcasting-services-regulation-bill-1709770
