Ransomware attacks, child sexual exploitation (CSE) and online fraud have remained the most threatening manifestations of cybercrime in the European Union, according to the EU agency Europol, in its tenth edition of the Internet Organised Crime Threat Assessment (IOCTA).
Europol says that the human factor still remains the weakest link in most cyber defences. Multi-layered extortion models are increasingly common over the spectrum of cybercrime threats, as ransomware groups disband and form again. Even after take-downs by law enforcement, mirror sites spring up rapidly. The dark web continues to be a key enabler for cybercrime, allowing offenders to share knowledge, tools and services in a more concealed way.
Investment, business email compromise (BEC) and romance frauds remain the most common types of cyber-enabled fraud schemes in the EU, and phishing persists as the most prevalent vector of attack. As for cryptocurrency, ransomware operators mostly ask for Bitcoin when demanding ransom, as these are still easier to obtain than other types of coins – but the use of alternative coins (altcoins) seems to be growing.
Catherine De Bolle, the executive director of the agency for law enforcement cooperation, said in a foreword: “Cybercriminals are keen to leverage Artificial Intelligence, which is already becoming a common component in their toolbox and is very likely to see even wider application. Law enforcement agencies are expected to build a robust capacity to counter the growing threats stemming from this, both in terms of human resources and technical skills. An additional concerning aspect of cybercrime is the young age of the offenders. As cybercriminals appear to be in many cases underage, a greater focus on offender prevention could discourage young people from entering a criminal career.”
As for use of AI, the threat assessment points to services offered in the dark web that can help online fraudsters to develop scripts and create phishing emails. Malicious large language models (LLMs) are also being used in sexual extortion cases, Europol reports. And for online fraud, deepfakes are used to mimic voices, such as business chiefs; and AI is used in the generation of an ever-growing volume of online child sexual abuse material. The number of cybercriminals entering the market continues to grow steadily, Europol reports.
You can view the document at the Europol website.
