Singapore Warns of AI-Led Cyberattacks - CNA

Singapore, Jul 30 (PTI) The Cyber Security Agency (CSA) of the city-state has warned of cyberattacks by malicious actors using the evolving artificial intelligence technology.

AI is used to enhance various aspects of cyberattacks, including social engineering or reconnaissance, the agency noted.

“This is likely to increase, driven by the ever-growing stores of data, which can be used to train AI models for higher quality results,” the Channel News Asia quoted CSA as saying in a report.

The agency's Singapore Cyber Landscape 2023 report published on Tuesday found that malicious actors are using generative AI for deepfake scams, bypassing biometric authentication and detecting vulnerabilities in software.

Deepfakes are created using AI techniques to alter or manipulate visual and audio content. Malicious actors have used deepfake calls, videos and photos for commercial or political reasons.

This year, several Members of Parliament received extortion letters with manipulated images in which their faces were superimposed onto obscene photos of a man and a woman.

And just last month, Senior Minister Lee Hsien Loong warned people about deepfake videos of him commenting on international relations and foreign leaders.

The most spoofed industries in 2023 were banking and financial services, government, and technology.

Sixty-three per cent of the organisations imitated in phishing attempts were from the banking and financial services sector.

“This industry is often being masqueraded as banking and financial institutions are trusted organisations which hold significant amounts of sensitive and valuable information, such as personal details and login credentials,” said CSA.

The agency's report also found cybersecurity vendors reported a record number of ransomware victims globally in 2023. In Singapore, there were 132 cases, the same as in 2022.

The agency said ransomware groups shifted towards exfiltration-only data extortion attacks, which are faster and stealthier. This method refers to the unauthorised transfer of data without any encryption of files or systems.

Ransomware groups also shifted towards applying additional pressure tactics, such as harassing clients of victim organisations to compel the latter to pay the ransom, said CSA.

The manufacturing and construction industry remained the hardest hit by ransomware incidents in 2023.