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Saturday, Jun 15, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Cyber Security

Norton introduces AI-powered app to help detect scams

Genie is continually updated by Norton’s team to adapt to detect new scams

Norton introduces AI-powered app to help detect scams
Photo from Jake Walker via Unsplash

Norton, a subsidiary of Gen Digital (NASDAQ: GEN), introduced an AI-powered mobile application and web-based service that provides scam detection on Tuesday.

Powered by advanced AI, Genie draws from Norton databases and experience in uncovering and dealing with scams, phishing attacks and unsafe websites. Genie can swiftly evaluate the authenticity of a suspicious text message or uploaded screenshot.

Genie is also continually updated and developed by the team at Norton to learn and adapt to detect new scams and guard against emerging threats. The program also offers advice to users, flagging messages as potential scams and providing explanations, guidance and education.

AI-based solutions use machine learning algorithms to detect and respond to both known and previously unidentified malware threats. These algorithms have the capability to analyze vast volumes of data, enabling them to identify intricate patterns and anomalies that might be challenging for humans to spot.

“Every day, we’re inundated with messages and scams that have become so believable that anyone, even the savviest of us, is just one wrong tap from becoming a scammer’s next victim,” said Ondrej Vlcek, president at Gen.

Gen Digital share rose 0.7 per cent to $19.74 on Wednesday on the NASDAQ exchange.

Read more: Rogers Cybersecure Catalyst program to help resolve Canada’s cybersecurity labour shortage

Read more: Ransomware incidences down due to law enforcement disruption and Ukraine war: Mandiant study

Phishing stands out as the prevalent form of cyber crime

Phishing is a cyber crime where criminals send spam messages containing harmful links with the intention of tricking targets into downloading malware or visiting fake websites. Although these messages were initially sent through emails, cyber criminals have expanded their tactics to include texts, social media and phone calls as well.

An estimated 3.4 billion phishing emails are sent every day, according to cyber security firm AAG.

According to AAG, phishing stands out as the most prevalent form of cyber crime, accounting for a significant threat in the digital landscape. Every day, an estimated 3.4 billion spam emails flood inboxes, with Google effectively blocking approximately 100 million phishing emails to protect users.

Stolen credentials remain the primary cause of data breaches, posing a considerable risk to sensitive information. In 2022, spam emails constituted over 48 per cent of the total emails sent. Over a fifth of all phishing emails originate from Russia.

Other companies involved in this sector include Cisco Systems Inc. (NASDAQ: CSCO), Palo Alto Networks Inc. (NASDAQ: PANW) as well as Seattle-based startup, Protect AI.


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