July 14th, 2024

AI is making it easier to target people with more personalized scams: 1Password CEO

By The Canadian Press on June 19, 2024.

An app screenshot for 1Password is seen on a smartphone in a photo illustration made in Toronto, Monday, June 17, 2024. 1Password is a Toronto-based password management company that actor Ryan Reynolds has invested in. THE CANADIAN PRESS/Giordano Ciampini

TORONTO – The head of 1Password says artificial intelligence is making it increasingly easier for hackers and scammers to carry out their crimes on a much more personal basis.

Jeff Shiner, chief executive of the Toronto-based password management company, foresees the technology being used more and more to target people individually.

As an example, he pointed to a recent instance where Hong Kong police reported that a finance worker was duped into handing over $25 million to fraudsters who used deepfake technology to pose ashis employer’s chief financial officer.

On top of these individual attacks, he sees traditional threats like phishing, identity theft and hacking reaching a scale unlike anything the world has seen before.

To prepare for the shifts he’s predicting, Shiner urged businesses to take their safety efforts beyond quarterly reminders to staff to not click on suspicious links.

Shiner’s comments came during the Collision conference in Toronto, where tech workers and leaders have gathered this week to discuss AI, venture capital and the future of innovation.

This report by The Canadian Press was first published June 19, 2024.

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