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Generative AI, cybercrime, and scamability, with Stacey Edmonds

London Futurists

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The Profitability and Unreported Instances of Cybercrime

The chapter discusses the profitability of cybercrime and the reasons why many instances of cybercrime go unreported. The speakers highlight the effectiveness of scams and cons in exploiting human vulnerabilities and the financial impact of cybercrime. They also mention a specific social engineering con involving MGM, where a person claiming to be from the IT desk calls and convinces employees to change their passwords. The chapter concludes by mentioning the estimated financial losses to scams in Australia and the likelihood of a significant portion going unreported.

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