Data breaches have been on the rise globally, with Experian reporting that 2024 has already exceeded the number of data breaches and impacted consumers compared to the previous year. This alarming trend highlights the increasing vulnerability of individuals and organizations to cyber threats.
One concerning development is the rise of younger cybercriminals, with the average age of those arrested for cybercrime being 19, compared to 37 for any other crime. Many teenagers are being lured into the world of hacking by more seasoned fraudsters who target them through online channels such as gaming, chat, and social media. As more states pass laws against online fraud and cyberbullying, there may be a surge in the prosecution of teens involved in hacking activities.
Moreover, as companies invest in educating their employees on the responsible use of AI, there is a potential risk that this knowledge could be misused for internal theft or unauthorized access to sensitive information. There is a possibility that a global brand could fall victim to fraud committed by an insider who received AI training from the company.
Cybercriminals are also targeting large data centers and leveraging the growing use of GenAI technology to exploit vulnerabilities. The excessive power consumption of AI systems like ChatGPT poses a significant risk, as attackers could disrupt these systems and cause widespread damage. The varying levels of security in cloud infrastructure and data centers across different countries also present a challenge, with the potential for cybercriminals to compromise a nation-state’s cloud infrastructure through power-related attacks.
Looking ahead to 2025, AI-driven cyber incidents are projected to dominate headlines, with hackers engaging in attacks against each other for political or financial gains. The increasing sophistication of AI-driven fraud tactics poses a significant threat, as fraudsters may soon be able to create counterfeit documents that are virtually indistinguishable from genuine ones.
Michael Bruemmer, VP of Global Data Breach Resolution at Experian, emphasizes the need for increased cybersecurity investments to combat these emerging threats. He points out that AI-related incidents are expected to take center stage in 2025, with ransomware attacks becoming even more advanced due to the use of AI technology. Jim Steven, Head of Crisis and Data Response Services at Experian Global Data Breach Resolution in the United Kingdom, warns of the escalating risks posed by threat actors and the potential misuse of consumer data to tarnish reputations in the coming year.
In conclusion, the relentless pace of data breaches and cyber threats underscores the critical need for robust cybersecurity measures and proactive measures to safeguard sensitive information and infrastructure against evolving risks in the digital landscape.