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How Artificial Intelligence is unleashing Cyber Crime?

It is interesting that how a technological advancement – when fallen into wrong hands – can wreak havoc. Nuclear technology, for one, has the potential of solving the world’s energy and medical needs but on the other hand, it can unleash unprecedented havoc on planet Earth as well. Artificial Intelligence is another such technology that can perform complex computational problems in the blink of an eye, that would take an ordinary mortal an entire lifetime to solve.

With hundreds of areas benefiting from the fruits of Artificial Intelligence, there is one use case that is worrying the proponents of AI: Cyber Crime. Ranging from Denial of service attacks to being used as a source for online frauds, the possibilities are unlimited for cybercriminals.

What is at risk?

Everything online is at risk of cybercrime. Ranging from Facebook data to multi-billion dollars transaction platforms, cybercriminals are interested to hack into everything that can help them earn an easy buck. The financial services sector is especially at risk because of their lackluster approach towards tech defense and a sluggish regulatory review process for new cybersecurity products. False identities that seem very real to compliance officers or KYC verification software can easily be concocted by a smart yet malicious system. Processes to check for vulnerabilities in a typical financial software can be automated, making it easier to locate the proverbial “Achilles Heel” of a digital resource.

What kind of Cyber Crime is expected?

Well, the scope of AI-based Cybercrime is limited only by the imagination of cybercriminals. Otherwise, AI can be used to initiate various kind of cyber attacks. Corporate espionage is a favored term in the US and Western Europe to explain organized attempts to hack into the servers of Fortune 500 companies to steal patents, technologies and other vital information. Identities can be hacked by sending in user-specific links that can lead to downloading of a leaching spam or even worse a trojan virus. Facebook like algorithm can be designed to harvest personality information utilizing internet activity patterns and browsing history.

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What can be done?

AI can do the best it wanted to mimic a real person when launching an attack on an online system but after all, it is mimicry. It cannot replicate the traits of a genuine human being when put to test. For example, it doesn’t have a real face to perform a facial verification or doesn’t have an official identity document issued by a government that it can use to perform document verification. So a smartly designed KYC verification system – such as Shufti Pro – can easily detect an attack originated by AI.

With safety protocols to ensure the real identity of an end-user, KYC verification systems become an essential tool for online businesses. Even better counter is identity verification software, that also utilizes AI to perform checks for a person’s identity. It is highly likely that companies that safeguard their digital and online platform with an AI backed KYC software, are less likely to become a victim of an online cyber attack.


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