The number of fraudulent business emails in the first half of 2023 increased 89% globally from the same period the previous year, according to Abnormal Security.

Generative AI contributes to increase in cybercrimes

Business-related fraud doubles as new technology makes crime more efficient

ATSUSHI TERAOKA , Nikkei staff writer

January 7, 2024 15:24 JST

TOKYO -- In May, the CEO of an overseas affiliate of a Japanese company received an email saying, "We need your assistance, as we are in the final stage of purchasing assets." The sender claimed to be the chairman of the Japanese company.

The email was followed by a telephone call from a "senior managing director" saying, "We are following up on the matter we have gotten in touch with you about." The caller hung up when the CEO, becoming suspicious, noted that the person on the other end of the line might not be who he was claiming to be.