Arkose Labs Archives - Cyber Protection Magazine

AI making life hard for consumers and cybersecurity

Lou Covey November 26, 2024

The AI industry supposedly to make life easier for humanity. Since it first burst onto the scene it has, arguably, made life more difficult. Consumers and the cybersecurity industry, in particular, are struggling professionally, emotionally, and mentally to understand the value, if not the efficacy, of the technology.

Cyber Protection Magazine evaluated three surveys, from Armorcode, Arkose Labs, and Appdome, over the past few weeks. They agreed the public image of AI is untrustworthy, full of false promises, and something to be feared. In spite of this image, customers believe they must adopt and adapt to the technology, even if they don’t want to.

Pig butchering: Proving the Luddites right

Lou Covey October 9, 2024

Pig-butchering may be proving the Luddites were right. The social-engineering scam bypassed ransomware as the most profitable cybercrime approximately two years ago. After government regulations and law enforcement took a big bite out of returns for ransomware this past year, public-private partnerships are taking aim at the new champ.

TL;DR
* Pig butchering eclipses losses from ransomware
* Top targets are tech savvy people under 50
* Human error trumps cyber awareness
* Public/private partnerships making inroads at dismantling scam operations
* Tips to avoid scams
* Podcast with Arkose CEO
Between 2020 and 20023, scammers reaped more than $75 billion from victims around the world. Approximately 90 percent of the losses came from of purchasing fraudulent cryptocurrency, according to the US Treasury Department’s, Financial Crimes Enforcement Center. In comparison, ransomware attacks in that same period harvested $20 billion worldwide in ransoms and cost approximately another $20 billion in recovery costs.

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