China-based phishing groups blamed for non-stop scam SMS messages about a supposed wayward package or unpaid toll fee are promoting a new offering, just in time for the holiday shopping season: Phishing kits for mass-creating fake but convincing e-commerce websites that convert customer payment card data into mobile wallets from Apple and Google. Experts say these same phishing groups also are now using SMS lures that promise unclaimed tax refunds and mobile rewards points.
Cybersecurity: The rise in sophisticated phishing attacks demands stronger AI-driven defenses. Retail: E-commerce businesses face increased risk of fraudulent transactions and reputational damage. Finance & Insurance: Financial institutions need to implement AI-powered fraud detection systems to protect customers' payment card data and mobile wallets.
Businesses need to invest in AI-based tools to automate the identification and blocking of fraudulent websites and SMS messages. Security teams must adopt AI-powered threat intelligence platforms to stay ahead of these evolving attacks and implement automated incident response workflows to quickly contain and remediate breaches. Security awareness training incorporating AI-driven simulations can also improve employee detection of phishing attempts.