FraudGPT, another cybercrime generative AI tool, is being advertised by threat actors on dark web marketplaces and Telegram channels similar to WormGPT.
FraudGPT, another cybercrime generative AI tool, is being advertised by threat actors on dark web marketplaces and Telegram channels similar to WormGPT.
In a report published on Tuesday, Rakesh Krishnan, a Netenrich security researcher, said that this artificial intelligence (AI) bot is explicitly designed for offensive purposes, including spear phishing emails, cracking tools, carding, etc.
Behind the ominous curtain of anonymity, an actor going by the online alias "CanadianKingpin" claims to have crafted FraudGPT. A powerful AI bot that caters exclusively to cybercriminals, FraudGPT offers a variety of tools and features tailored to suit their malicious intentions. FraudGPT could be a powerful weapon in the wrong hands, offering spear-phishing emails, cracking tools, and carding.
A subscription to FraudGPT costs $200 per month (or $1,000 for six months and $1,700 for a year).
The exact large language model (LLM) responsible for the development of FraudGPT remains a mystery. However, its impact is still being determined. With over 3,000 confirmed sales and reviews, cybercriminals are finding creative ways to wield their power for evil purposes. FraudGPT poses a grave threat to cybersecurity because it writes undetectable malicious code and identifies leaks and vulnerabilities.
Cybercriminals have long favored the use of phishing, but FraudGPT takes it to an entirely new level. A powerful AI-driven platform makes it easy for even novice actors to mount convincing phishing attacks and business email compromises (BECs) at a large scale. There are potential consequences, such as data theft and unauthorized wire transfers.
While organizations can create ChatGPT (and other tools) with ethical safeguards, reimplementing the same technology without those safeguards is not tricky, Rakesh Krishnan said.
Implementing a defense-in-depth strategy that utilizes all available security telemetry for fast analytics has become essential to find these fast-moving threats before a phishing email can become ransomware or data theft.
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