Experts Warn of Evolving Cyberthreat Landscape Amid AI’s Rise

The advent of artificial intelligence (AI) has significantly transformed the cyberthreat landscape, with scams and attacks becoming increasingly sophisticated. LGMS Executive Chairman Fong Choong Fook has urged Malaysians to enhance their awareness of these evolving threats.

“Criminal groups are beginning to weaponise AI to create more advanced and deceptive scams,” Fong said. “The most effective way for people to stay safe is to increase their awareness about cyberattacks. They should read and learn about the latest scams.”

Fong also advised against answering unknown calls, warning that AI bots might be used to trick individuals.

“These could be potential targets for voice and video attacks,” he explained. “There have been cases where criminals make video calls to victims using AI-generated voices and images.”

Fong cited a case where AI tools were used to impersonate a CEO at a board meeting, giving fraudulent instructions to directors attending.

“In today’s age of online meetings, it is becoming increasingly difficult to discern real from deep fake,” Fong said. “AI-generated voices and images can convincingly mimic real people, making it crucial for organisations to implement robust verification processes and stay vigilant against such sophisticated cyber threats.”

He shared these insights during a panel discussion titled “Fostering AI Advancements for Malaysia” at the highly successful InvestFair organised by AlphaInvest over the weekend at the MidValley Megamall in Kuala Lumpur.

The panel, moderated by 12Invest Co-Founder Max Tan Kyzen (left in pic), included AGMO Group CEO Tan Aik Keong (AK) and Amazon Web Services (AWS) Singapore Senior Solutions Architect (Machine Learning and AI) Frank Winkler (far right in pic).

Fong also pointed out that many local businesses are unsure where to start with their cybersecurity strategies.

“Most businesses are aware of the need to stay safe online and avoid becoming targets for ransomware and other cyberattacks,” he said.

“When asked if they are afraid, they would say yes. However, when asked how they know if they’re vulnerable, many do not know where to start because antivirus solutions may not be sufficient against the latest and more powerful threats.”

In this light, the StarSentry cybersecurity solution, developed by the LGMS Group and spearheaded by subsidiary Applied Security Intelligence,  is the ideal solution for local businesses to improve their cybersecurity postures.

The solution was officially launched by Digital Minister Gobind Singh Deo and Japanese Ambassador to Malaysia Takahashi Katsuhiko earlier this month in the presence of leaders from Malaysia Digital Economy Corporation (MDEC), Cyber Security Malaysia, Mitsui & Co., Tokio Marine (Malaysia) Berhad and VSTECS Berhad, the latter having been appointed as official distributor for StarSentry.

“StarSentry has a plug-and-play design. Just plug the box into your network, and it will identify devices with security weaknesses and vulnerabilities,” Fong explained.

Meanwhile, AGMO Group CEO Tan Aik Keong (AK) said that the Malaysian Government is actively working to make AI a strategic thrust for the country and to further develop the digital economy.

“AI is all about data, which is crucial for building expertise and models. However, we must also ensure that AI is developed and used ethically,” he said.

AK also shared that AGMO is a local AWS partner, continually leveraging AWS’ cloud platform.

“Our partnership with AWS allows us to provide robust and scalable cloud solutions to our clients –  such as an e-invoicing one we are developing – ensuring they have the infrastructure needed to succeed in the digital economy,” he added.

Frank Winkler from AWS highlighted the importance of cloud infrastructure in supporting businesses of all sizes.

“Using the AWS cloud platform and our various tools, businesses can easily scale up or down based on demand. Backed by Amazon’s massive infrastructure, businesses have access to compute and storage resources whenever they need them,” he said, citing the New York Stock Exchange as a prominent user of AWS services.

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