Just when you think cybercriminals have exhausted their bag of tricks, they surprise you with new, cunning tactics. Now, they’re faking data breaches, aiming to deceive both business owners and dark web data buyers. These scams are increasingly powered by advanced AI technologies.
Earlier this year, Europcar, an international car rental company, discovered a cybercriminal selling private information about its 50 million+ customers on the dark web. However, the subsequent investigation revealed the data being sold was fake, likely generated using AI tools.
How Are They Doing It?
AI-powered tools like ChatGPT enable cybercriminals to quickly generate realistic-looking data sets. By conducting thorough research, they create data sets with correctly formatted names, addresses, emails, and even local phone numbers. Online data generators designed for software testing can also be repurposed to create these authentic-looking data sets. Once fabricated, the data is posted on the dark web, targeting specific companies.
Why Are They Doing It?
Faking data breaches serves multiple purposes for cybercriminals:
- Creating Distractions: Companies may become so focused on investigating the fake breach that they lower their defenses, making them vulnerable to real attacks from other angles.
- Bolstering Reputation: Targeting well-known brands publicly enhances the hacker’s notoriety and credibility within the cybercriminal community.
- Manipulating Stock Prices: Publicly traded companies can experience rapid stock price drops following a breach, allowing cybercriminals to profit from market manipulations.
- Learning Security Systems: Fake breaches provide insights into a company’s security processes, helping hackers refine their attack strategies.
Why Is This Bad For Businesses If The Data Is Fake?
Even if the data is fake, the damage to a company’s reputation can be significant. For instance, in September 2023, Sony was targeted by a ransomware group claiming to have breached its network. The news spread rapidly, tarnishing Sony’s brand. By the time the falsehood was revealed, the damage was already done.
What Can You Do To Prevent Fake Data Breaches?
To avoid falling victim to fake data breaches, consider these steps:
- Actively Monitor The Dark Web: Regularly monitor the dark web for any signs of your data being sold. Immediate investigation can prevent extensive damage.
- Have A Disaster Recovery Plan: Prepare a communication plan in advance to handle potential data breaches effectively.
- Work With A Qualified Professional: Partner with a cybersecurity expert to manage and protect your IT systems, ensuring continuous monitoring and swift resolution of any issues.
Data breaches can create enormous problems for your organization. Proactive monitoring of your network and the dark web is crucial. If you want a no-obligation, third-party opinion on your network's security, we’re here to help. Call us at 405-840-4100 or click here to book your FREE Security Risk Assessment with one of our cybersecurity experts.
