Finance orgs to face increasingly prevalent AI cyberattacks

Organizations in the financial sector are poised to experience an influx of artificial intelligence-based cyberattacks in 2024, reports Back End News. Such AI-based intrusions could involve the spoofing of legitimate communication channels, a Kaspersky report revealed. Increasing utilization of clipboard malware and mobile banking trojans is also expected amid the growing popularity of direct payment systems and mobile banking apps. Significantly more open-source backdoored packages leveraging known software vulnerabilities are also expected to target financial entities in the coming year while threat actors are predicted to increasingly use one-day exploits in their attacks. "To stay ahead, financial institutions and organizations must proactively adapt their cybersecurity strategies, fortifying defenses to safeguard assets and sensitive data. The key to success lies in fostering collaboration between the public and private sectors, forging a united front against the escalating risks that define the financial cybersecurity terrain in the year ahead," said Kaspersky Global Research & Analysis Team Lead Security Researcher Marc Rivero.