The artificial intelligence (AI) sector, which has made headlines in 2023, is under scrutiny for facilitating cybercrimes such as hacking, fraud, and money laundering. U.S. law enforcement and intelligence officials have warned about the misuse of AI advancements in these illegal activities.
At the International Cybersecurity Conference at Fordham University, Rob Joyce, the National Security Agency’s cybersecurity director, highlighted that AI could lower the technological barrier needed to commit such crimes, making perpetrators more effective and dangerous.
However, Joyce also noted that AI could be a powerful tool for U.S. authorities to more effectively track down illegal activities. FBI’s New York office assistant director James Smith observed an increase in cybercrimes due to AI lowering technical thresholds.
Brooklyn’s U.S. Attorney Breon Peace pointed out the rapid emergence of AI-generated methods that could deceive systems designed to prevent cybercrimes, potentially weakening decades of developed control systems.
Binance’s chief security officer, Jimmy Su, in an interview last year, warned that AI is becoming better at circumventing Know Your Customer (KYC) checks in fraudulent activities. Data from cybersecurity firm SumSub shows a tenfold increase in global fraud activities from 2022 to 2023, highlighting the growing challenge of AI-assisted crimes.