A recent study by tech retailer Currys has uncovered the brands most exploited by cyber scammers in their duplicitous endeavours. Evri, Amazon, and PayPal were amongst the brands subjected to the highest manipulation, primarily through email phishing schemes.
According to the study, nearly 40,000 Google searches for “evri scam email” were noted in the UK over the preceding 12 months. This search term spiked by an astonishing 823% in comparison to the year prior, clearly indicating the rising persistence of such scams.
Moreover, the brands next on the cybercriminals’ hit list were PayPal and Amazon, with 28,900 and 14,000 searches, respectively, for scam emails associated with these household names. However, it is interesting to note that the monthly search volumes concerning these dubious emails have decreased by 19% and 12%, respectively, in the last 12 months.
As scams take on an artificial intelligence (AI) dimension, the study also explored AI’s capabilities in identifying such deceptive emails. Interestingly, AI was found to be incapable of detecting approximately 10% of fraudulent emails. By feeding a mix of 40 genuine and scam emails to two types of AI systems, the study discovered these systems incorrectly classified around 10% of them.
In a battle for AI efficiency, ‘Perplexity’ emerged as the superior system, correctly identifying 28 out of 29 scam emails, as opposed to ‘Chat GPT 4’, which correctly identified 27 out of 29. When fed genuine emails, both AI systems demonstrated even lesser accuracy. ‘Perplexity’ wrongly categorised three legitimate emails as spam, whereas ‘Chat GPT 4’ mislabelled two.
This confirms the escalating sophistication of phishing emails. As the National Cyber Security Centre warns, cyber criminals’ use of AI is predicted to amplify the scale and impact of cyber-attacks in the coming two years. The increasingly deceptive appearance of phishing emails could potentially trick more of the public into engaging with them.
While AI might be dropping the ball in this game, there are several steps individuals can take to safeguard themselves from falling prey to these scams. Some of the tips suggested by sources like Crimestoppers UK, National Cyber Security Centre, Which?, and Stop Fraud Now include critical examination of sender’s email addresses, content for spelling and grammatical errors, requests for personal information, and sense of urgency conveyed. Furthermore, users must exercise caution before clicking on any links contained in these emails or offering personal details.
The findings from Currys’ study shed light on the alarming rise of cyber scams targeting popular brands and the limitations AI faces in detecting fraudulent emails. As phishing tactics evolve in sophistication, individuals must remain vigilant and employ best practices to protect themselves from falling victim to such scams. With cybercriminals leveraging AI to enhance their deceptive techniques, proactive measures and heightened awareness become paramount in safeguarding against online threats.
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