Crofam Tech Alerts Social engineering attacks are expected to remain a significant threat in 2024. 1. Prevalence of Identity-Based Attacks 🔑: According to CrowdStrike, 80% of security breaches occur due to compromised identities. Attackers use various methods such as phishing, weak credential purchases, and social engineering to exploit identity weaknesses (Home of Technology News)​ Phishing and Social Engineering 📧: Phishing remains a key tactic. Attackers craft deceptive emails or messages that trick individuals into revealing sensitive information. Educating employees on recognizing phishing attempts is crucial in combating these attacks. 2. Compromised Credentials 🔐: Attackers often acquire valid credentials through the black market or by exploiting weak passwords. This enables them to bypass security measures and gain unauthorized access to systems. 3. Elevated Tradecraft 🕵️‍♂️: Threat actors continuously refine their techniques. They blend social engineering with technical methods to create sophisticated attacks that are harder to detect and prevent. 4. Importance of Identity Protection 🛡️: Strengthening identity protection is critical. This includes implementing multi-factor authentication (MFA), regularly updating passwords, and using advanced identity verification technologies to safeguard against unauthorized access. 5. Employee Training 🧠: Regular training programs are essential to educate employees about the latest social engineering tactics. Awareness can significantly reduce the success rate of these attacks by making individuals more vigilant. 6. Advanced Security Measures 🔒: Companies are adopting advanced security measures such as AI-powered threat detection, behavioral analytics, and continuous monitoring to identify and mitigate social engineering attempts in real time. By focusing on these areas, businesses can better protect themselves against the evolving landscape of social engineering attacks, ensuring stronger security and resilience against cyber threats​ (Home of Technology News)​​ (JD Supra) Crofam Tech Alerts Social engineering attacks are expected to remain a significant threat in 2024.

Beijing, China – In a move that could reshape the AI industry, Chinese startup DeepSeek has announced plans to launch its next-generation AI model, DeepSeek R2, months ahead of schedule. The company’s rapid progress has already sent shockwaves through the global tech sector, with its first model proving that cutting-edge AI can be developed at a fraction of the cost of U.S. counterparts. Key Developments: • DeepSeek’s R1 model, released in January, outperformed major Western AI models in language processing and reasoning tasks. • The company's upcoming R2 model is expected to enhance coding capabilities and support more languages. • DeepSeek has drawn attention from both Chinese regulators and global investors, with some comparing its rise to OpenAI’s disruptive impact. Why It Matters: This development marks a major shift in AI leadership, with China proving that sophisticated models can be built with fewer resources. Western firms are now scrambling to accelerate their own AI projects, as DeepSeek’s technology could lower the cost of AI deployment worldwide. Crofam Tech Alerts DeepSeek’s AI