AI ignites an unprecedented surge in phishing attacks: See what Bolster research Phishing in Focus found as major trends in the first half 2024.
In the ever-evolving landscape of cybersecurity threats, the impact of artificial intelligence (AI) on phishing attacks has been nothing short of transformative. In our 2024 Phishing in Focus Mid-Year Report by Bolster Research, we dive into how the rise of AI has led to an unprecedented surge in the speed, scale, and sophistication of phishing attacks and scam techniques. Utilizing data sourced from CheckPhish, the report provides a comprehensive analysis covering the period from January through June 2024.
We’ve highlighted some of the key findings below, to introduce you to the data in the report.
Key Report Findings from the Phishing in Focus Report:
1. AI’s Impact on Speed and Scale
The proliferation of AI has accelerated the creation of scams and phishing attacks at an unparalleled pace. The Bolster Research report reveals that over 38,000 new phishing sites were launched each day within the first half of 2024, marking a staggering increase in the volume and frequency of malicious campaigns, and highlighting the need for all businesses to stay alert every day against phishing attacks.
2. Multi-Pronged Approach
Cybercriminals have adopted a multi-channel strategy, leveraging not only email but also text, social media, fake websites, and voice calls to expand the attack surface. Of particular concern is the 170% surge in phishing attacks originating from social media, underscoring the diversification and expansion of attack vectors.
3. Nation-State Threat Actors
The report sheds light on the alarming trend of nation-state threat actors launching phishing attacks, spam campaigns, and data breaches related to the US presidential election. China, Russia, and Iran stand out as the key drivers behind 75% of this malicious activity, posing a significant geopolitical and cybersecurity threat.
4. Seasonal Phishing Trends
Highlighting the seasonality of phishing attacks, the report identifies May as a hotspot month for phishing campaigns targeting summer shopping and travel spending. The number of phishing sites increased twofold from May 2023 to May 2024, signaling a concerted effort by threat actors to exploit consumer behaviors during peak periods.
5. Sectoral Targeting and Payment Provider Vulnerabilities
The technology sector emerges as the primary target for phishing attacks, with a staggering 67% of such malicious campaigns directed at technology companies when looking at data for top five industries. Furthermore, payment providers are under intense scrutiny, with phishing attacks witnessing a 15% increase due to the allure of lucrative rewards and the ease of monetization on the dark web.
Predictions and Defense Measures
The phishing in focus report not only provides a comprehensive overview of the prevailing trends, but also offers three insightful predictions for the remainder of 2024. Additionally, it outlines three key measures that organizations can implement to defend against the evolving threat landscape posed by phishing attacks.
As the cybersecurity landscape continues to evolve, it is imperative for organizations to remain vigilant in the face of these evolving threats. The insights and trends presented in the Phishing in Focus Mid-Year Report by Bolster Research serve as a clarion call for heightened awareness, proactive defense strategies, and the continuous adaptation of security measures to mitigate the risks posed by AI-fueled phishing attacks.
To delve deeper into the detailed analysis, predictions, and defense measures outlined in the report, you can download the full report for a comprehensive understanding of the evolving phishing landscape and proactive defense strategies.
In an era where technological advancements have reshaped the threat landscape, organizations must equip themselves with actionable insights and robust defenses to safeguard against the AI-driven surge in phishing attacks.
Note: This blog post is based on the insights and key findings outlined in the Bolster Research’s mid-year report on phishing trends for 2024. You can access the full report here.
