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Modern Phishing Attacks: Insights from the Egress Phishing Threat Trends Report

 

Phishing attacks have long been a significant threat in the cybersecurity landscape, but as technology evolves, so do the tactics employed by cybercriminals. The latest insights from the Egress Phishing Threat Trends Report shed light on the sophistication and evolution of these attacks, offering valuable insights into the current threat landscape. 

One notable trend highlighted in the report is the proliferation of QR code payloads in phishing emails. While QR code payloads were relatively rare in previous years, they have seen a significant increase, accounting for 12.4% of attacks in 2023 and remaining at 10.8% in 2024. This shift underscores the adaptability of cybercriminals and their ability to leverage emerging technologies to perpetrate attacks. 

In addition to QR code payloads, social engineering tactics have also become increasingly prevalent in phishing attacks. These tactics, which involve manipulating individuals into divulging sensitive information, now represent 19% of phishing attacks. 

Moreover, phishing emails have become over three times longer since 2021, likely due to the use of generative AI to craft more convincing messages. Multi-channel attacks have also emerged as a prominent threat, with platforms like Microsoft Teams and Slack being utilized as the second step in these attacks. Microsoft Teams, in particular, has experienced a significant increase in usage, with a 104.4% rise in 2024 compared to the previous year. This trend highlights the importance of securing not just email communications but also other communication channels within organizations. 

Another concerning development is the use of deepfakes in phishing attacks. These AI-generated audio and video manipulations have become increasingly sophisticated and are being used to deceive victims into disclosing sensitive information. The report predicts that the use of deepfakes in cyberattacks will continue to rise in the coming years, posing a significant challenge for defenders. Despite advancements in email security, many phishing attacks still successfully bypass Secure Email Gateways (SEGs). Obfuscation techniques, such as hijacking legitimate hyperlinks and masking phishing URLs within image attachments, are commonly used to evade detection. This highlights the need for organizations to implement robust security measures beyond traditional email filtering solutions. 

Furthermore, the report identifies millennials as the top targets for phishing attacks, receiving 37.5% of phishing emails. Industries such as finance, legal, and healthcare are among the most targeted, with individuals in accounting and finance roles receiving the highest volume of phishing emails. As cybercriminals continue to innovate and adapt their tactics, organizations must remain vigilant and proactive in their approach to cybersecurity. 

This includes implementing comprehensive security awareness training programs, leveraging advanced threat detection technologies, and regularly updating security policies and procedures. 

The Egress Phishing Threat Trends Report provides valuable insights into the evolving nature of phishing attacks and underscores the importance of a multi-layered approach to cybersecurity in today's threat landscape. By staying informed and proactive, organizations can better protect themselves against the growing threat of phishing attacks.

Watch Out For These ChatGPT and AI Scams

 

Since ChatGPT's inception in November of last year, it has consistently shown to be helpful, with people all around the world coming up with new ways to use the technology every day. The strength of AI tools, however, means that they may also be employed for sinister purposes like creating malware programmes and phishing emails. 

Over the past six to eight months, hackers have been observed exploiting the trend to defraud individuals of their money and information by creating false investment opportunities and scam applications. They have also been observed using artificial intelligence to plan scams. 

AI scams are some of the hardest to spot, and many people don't use technologies like Surfshark antivirus, which alerts users before they visit dubious websites or download dubious apps. As a result, we have compiled a list of all the prevalent strategies that have lately been seen in the wild. 

Phishing scams with AI assistance 

Phishing scams have been around for a long time. Scammers can send you emails or texts pretending to be from a trustworthy organisation, like Microsoft, in an effort to trick you into clicking a link that will take you to a dangerous website.

A threat actor can then use that location to spread malware or steal sensitive data like passwords from your device. Spelling and grammar mistakes, which a prominent corporation like Microsoft would never make in a business email to its clients, have historically been one of the simplest ways to identify them. 

However, in 2023 ChatGPT will be able to produce clear, fluid copy that is free of typos with just a brief suggestion. This makes it far more difficult to differentiate between authentic letters and phishing attacks. 

Voice clone AI scams

In recent months, frauds utilising artificial intelligence (AI) have gained attention. 10% of respondents to a recent global McAfee study said they have already been personally targeted by an AI voice scam. 15% more people claimed to be acquainted with a victim. 

AI voice scams use text-to-speech software to create new content that mimics the original audio by stealing audio files from a target's social network account. These kinds of programmes have valid, non-nefarious functions and are accessible online for free. 

The con artist will record a voicemail or voice message in which they portray their target as distressed and in need of money desperately. In the hopes that their family members won't be able to tell the difference between their loved one's voice and an AI-generated one, this will then be transmitted to them. 

Scams with AI investments

 
Scammers are using the hype surrounding AI, as well as the technology itself, in a manner similar to how they did with cryptocurrencies, to create phoney investment possibilities that look real.

Both "TeslaCoin" and "TruthGPT Coin" have been utilised in fraud schemes, capitalising on the attention that Elon Musk and ChatGPT have received in the media and positioning themselves as hip investment prospects. 

According to California's Department of Financial Protection & Innovation, Maxpread Technologies fabricated an AI-generated CEO and programmed it with a script enticing potential investors to make investments. An order to cease and desist has been given to the corporation. 

The DFPI claims that Harvest Keeper, another investment firm, collapsed back in March. According to Forbes, Harvest Keeper employed an actor to pose as their CEO in an effort to calm irate clients. This demonstrates the lengths some con artists will go to make sure their sales spiel is plausible enough.

Way forward

Consumers in the US lost a staggering $8.8 billion to scammers in 2022, and 2023 is not expected to be any different. Periods of financial instability frequently coincide with rises in fraud, and many nations worldwide are experiencing difficulties. 

Artificial intelligence is currently a goldmine for con artists. Although everyone is talking about it, relatively few people are actually knowledgeable about it, and businesses of all sizes are rushing AI products to market. 

Keeping up with the most recent scams is crucial, and now that AI has made them much more difficult to detect, it's even more crucial. Following them on social media for the most recent information is strongly encouraged because the FTC, FBI, and other federal agencies frequently issue warnings. 

Security professionals advised buying a VPN that detects spyware, such NordVPN or Surfshark. In addition to alerting you to dubious websites hidden on Google Search results pages, they both will disguise your IP address like a conventional VPN. It's crucial to arm oneself with technology like this if you want to be safe online.