AI Is Worsening Firms’ Cybersecurity 'Fog of War'
Action Required: Review firm cybersecurity protocols and update employee training to recognize AI-generated phishing and fraud attempts.
Compliance experts at the BNY INSITE conference warn that AI is significantly lowering the barrier for bad actors to create sophisticated fraud schemes, increasing the cybersecurity 'fog of war' for financial firms. Advisors must recognize that AI-driven threats are becoming cheaper and faster to execute, necessitating a proactive review of firm-wide cybersecurity defenses.
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