Watching the Watchers: AI & Cybercrime Are a Match Made In Hell

Axios contributors Christine Clarridge and Russell Contreras recently assessed the increasingly ominous role artificial intelligence is playing in cybercrime. Deepfakes, ransomware, identity hijacks, and infrastructure hacks are all newly elevated threats – widely varied acts that previously required specialized expertise and massive organizations.
But not anymore. Now, they write:

“Off-the-shelf AI lowers the skill level and cost of carrying out attacks, enabling small crews to execute schemes that previously required nation-state resources.”

Here's what else their snapshot revealed:

• Financial systems seem especially vulnerable, but the threat isn’t limited to banks. It potentially affects any entity with customer accounts, from hospitals to water plants to retailers.

• “Crimes can now hit millions at once with voice clones and account takeovers, while local agencies are trained and funded to chase one case at a time.”

• AI can commit crimes humans aren’t capable of: “AI can create automations to ‘lock pick’ into a system millions of times per second, something humans can't do.”

• Almost anything can be disabled in such attacks: a Port of Seattle attack “disabled airport kiosks, baggage systems and Wi-Fi, while exposing data for roughly 90,000 people.” Speaking of Seattle, the Seattle Public Library “suffered a ransomware attack that wiped out its catalog, computers, Wi-Fi and e-books.” It cost Seattle a million dollars and three months to fully recover.

• The Chinese government is all-in: “State-backed hackers used AI tools from Anthropic to automate breaches of major companies and foreign governments during a September cyber campaign.” That attack marks a particularly dark turn, since the level of human involvement required was minimal thanks to AI’s assistance.

• More crimes are happening: “Generative AI has increased the speed and scale of synthetic-identity fraud,” especially where real-time payment systems are involved.

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• And they are happening faster: “A deepfake attack occurred every five minutes globally in 2024, while digital-document forgeries jumped 244% year-over-year.”

When it comes to cybercrime, these stats suggest that it pays to be more than a little paranoid.

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