Ransomware, AI fraud drive cyber risk evolution in 2025
Ransomware attacks and artificial intelligence fraud threaten organizations as cybercriminals deploy social engineering tactics to breach networks. Jack Tolliday, a threat intelligence specialist at QBE, said deepfakes contributed to nearly 10 percent of successful attacks in 2024, with losses ranging from $250,000 to $20 million per incident. Companies must train employees to identify AI deception attempts and establish verification procedures for password resets and financial transactions.
QBE adapted insurance policies to address emerging threats through artificial intelligence endorsements and language model coverage options. The insurer provides threat intelligence webinars and partners with vendors that offer social engineering simulations for clients. Leaders need proactive risk management strategies that combine multi-factor authentication, identity access controls, and advanced detection tools across their systems.
