VIDEO | Artificial intelligence (AI) is rapidly transforming the landscape of cybersecurity, both in terms of how attacks are conducted and how they can be defended against. At the PostTrade 360° Nordic 2024 conference, the growing threat of AI-driven cyberattacks was highlighted by William Rimington, managing director of Thomas Murray Cyber Ltd. Rimington provided an in-depth look at how cybercriminals are increasingly leveraging AI to enhance their tactics, while also offering guidance on how organisations can strengthen their defences.
Rimington began by illustrating how easily generative AI can be used to impersonate public figures and create chaos. Using a fake video of former UK Prime Minister Boris Johnson (which is not shown in the recording) and fake audio clips of Johnson and former Bank of England governor Mark Carney, Rimington demonstrated how AI can quickly fabricate convincing messages to deceive individuals and escalate crises. “It took me probably an hour or so to mock up,” he said, underscoring the simplicity of such attacks.
He explained that these attacks can be amplified by targeting specific individuals, like sending fake messages to influential figures such as Carney. The goal, Rimington noted, is to create confusion and uncertainty, not just in the public sphere but among key decision-makers. “You start to sow uncertainty when people receive personal messages asking them to act fast,” he explained.
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The daily reality of cyberattacks
Rimington did not just focus on hypothetical scenarios. He shared real-world examples, including a ransomware attack on the Swedish Riksdag and a local Swedish ferry company, both of which had been hit by cyberattacks during the conference itself. “It’s happening every single day, every single minute,” he said, highlighting how frequent and widespread these attacks have become.
He also referenced ongoing attacks in Ukraine by Russian cyber forces, demonstrating how phishing emails, often created with the help of AI, are being used to target telecommunications companies.
The role of regulation
While AI poses serious risks, Rimington emphasised that regulatory frameworks, like the EU’s NIS2 Directive and Digital Operational Resilience Act (DORA), are critical in bolstering cybersecurity defenses. “Within cybersecurity, regulation should be celebrated,” he stated, noting that DORA helps organisations ensure they are moving in the right direction by focusing on operational resilience.
For Rimington, organisations need to view cybersecurity not just as a compliance issue but as an opportunity to strengthen their overall maturity and preparedness. He encouraged organisations to become like a “pomegranate”—a metaphor he used to describe organisations with strong, segmented defences that are difficult to penetrate and are quick to detect and react to threats.
Human vigilance
While AI-driven tools are important, Rimington emphasised the human element in cybersecurity. “The biggest bit for me, and one that requires absolutely no technological investment, is to be a human being,” he said. He stressed the importance of human intuition and communication when dealing with suspicious activity. Checking in with colleagues, he advised, is often the best way to identify and stop a cyber threat in its tracks.
Rimington also urged the audience to remain curious about AI and its potential benefits. “Don’t fear AI,” he concluded. “Seek to understand how it’s being used in your business and why.
Speaker:
William Rimington, managing director, Thomas Murray Cyber Ltd
Hosted by Thomas Murray
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