‘Cybercriminals are betting on FIFA excitement to cloud fans’ judgment,’ McAfee’s top executive says

Emergence of AI tools, fluctuating popularity of cryptocurrency and Web3 have set the stage for a 2023 that could witness an advancement in how attackers can exploit these technologies.

Cyberthreats have evolved with the emergence of new technology and trends including AI, Web3, and crypto. Major sporting events like the FIFA Worldcup also attract a lot of cyber criminals looking to profit from the excitement of fans.

In an exclusive interaction with The Hindu, Gagan Singh, Vice President, and Chief Operating Officer at McAfee, discussed changes in cyber threat landscape, business of cybersecurity, and attacks targeting major sporting events.

Edited excerpts:

Gagan Singh: There is no denying that the pandemic accelerated the evolution of cyber threats. Cybercriminals took full advantage of the situation when we spent more time online and witnessed information overload related to COVID-19.

In 2020, McAfee Labs saw an average of 375 new threats per minute as cybercriminals exploited the pandemic through COVID-19-themed malicious apps, phishing campaigns, malware, and more.

The introduction and accessibility of AI tools have made launching new cyber threats easier than ever, compounding some of the challenges around the volume and sophistication of threats we see today.

The fluctuating popularity of cryptocurrency and the emergence of Web3, which is being touted as the next version of the internet, also leave people vulnerable to potential cyber threats.