Cybersecurity firm Darktrace shared with Fortune’s Eye on AI that cybercriminals are using natural language AI algorithms to help increase the linguistic complexity of phishing emails. Interestingly, Darktrace reports that while the overall volume of phishing schemes it has observed has decreased by 50%, more complex schemes have increased by close to 20%. Unfortunately, this makes sense. 

​

Check Point, another cybersecurity firm, noted that using ChatGPT helped it to create an end-to-end social engineering campaign from phishing emails all the way to embedded malware within an email attachment. The result was disturbingly convincing and is assured to break down traditional barriers of defense that treasury and finance leaders have erected to detect fraud. 

 

In response, cybersecurity experts all say the same thing: use automated systems to detect and prevent cyberattacks at machine speed. For treasury terms, this means using AI within our payment processes to ensure payments are compliant with all payment policies and employing AI-driven adversarial networks to detect suspicious payments. 

​

The good news is that these tools exist today and can be embedded within your payment software, as well as treasury and ERP-to-bank connectivity. 

​

"Use AI to detect and prevent cyberattacks at machine speed within your payment processes."

​

​

Treasury Management Systems (TMS)