How Do CSA Programs Miss the Mark Even with Extensive Resources?
AI is taking over the world at an unexpected speed. Leaping from text and image generation, AI has reached a point where it can perfectly clone voices, faces, gestures, and actions to the extent that they look exactly real. As fascinating as these deepfakes are, they are equally alarming. While AI opens endless opportunities for organizations to grow and innovate, related risks are also rapidly increasing.
However, mitigations are struggling to catch up with the speed of these risks. The recent deepfake episode affecting a British engineering giant does not show anything new but rather highlights the increasing sophistication and frequency of these attacks, creating a virtual “hyper-realistic” world that can deceive individuals.
Phishing is not new and organizations spend curated programs to train and educate employees. However, this incident highlights the need to keep training and simulation programs more dynamic and practical with emerging scenarios. The sophistication of recent attacks demonstrates that static training methods are insufficient against evolving threats. Organizations must continuously update their training materials to reflect the latest techniques used by cybercriminals. Incorporating real-world simulations and adaptive learning technologies can better prepare employees to recognize and respond to these advanced threats.
It also reminds the crucial need for corporates to invest more in cybersecurity solutions to prevent or reduce adverse implications. Organizations can take the following proactive measures for strengthening the cybersecurity infrastructure:
Do banks have a responsibility here? Perhaps not, but they could enhance value-added services to their customers by alerting suspicious transactions. Besides this, banks must offer educational resources to customers on cybersecurity best practices to keep them aware of potential threats. To shore up the security measure further, banks could consider the following initiatives:
It is non-negotiable for organizations to take action now to address the growing threat posed by phishing, deepfake scams, and other sophisticated cyber threats. As a starter, it is important for companies to develop scenarios on AI-enabled threats (both internal and external) and mitigation plans. Organizations should leverage cutting-edge technologies like machine learning and behavioral analytics to detect and respond to evolving threats in real-time.
Embracing a culture of cybersecurity awareness from the top-down requires continuous assessment and improvement of processes, policies, and incident response capabilities. For the above and help with programs such as Responsible and Secure AI policy, start a conversation with raghupathi.rao@innowave360.com and nitesh.pr@innowave360.com.
CEO & MD at Innowave360
Experienced Chief Internal Auditor, Chief Risk Officer and Controller – Large US, Europe and Asia listed MNCs
Copyright © 2024. All rights reserved.