In our interconnected world, the spectre of cyber crime looms large, with global losses reaching a staggering $6 trillion annually and cyber attacks occurring once every 39 seconds. Human error accounts for 95 percent of these incidents—something many of us have already fallen victim to and with a high likelihood we could in the future.
Being part of an online, data-led generation means that understanding and combating cyber threats is not just important; it’s absolutely crucial. Joining us for our fourth IQUW Live event, guest speaker Lauri Love gave us a passionate and informative view of the intricacies of cyber crime.
Unlike the typical lineup of lawyers and cybersecurity experts who often take the stage to discuss hacking, Lauri Love offers a rare viewpoint—he has seen hacking from the other side. His journey through the elaborate landscapes of cyber crime provides him with first-hand insight into the motivations, challenges, and tactics employed by those on the opposing side of digital security. Lauri’s unique experience allows him to bridge the gap between conventional narratives and the often-misunderstood world of hacking, offering attendees a glimpse into the mindset of individuals navigating the digital frontier.
Introducing Lauri Love
Lauri Love, a professional hacker, cyber security expert and political activist brought a unique perspective to the table. His extensive involvement in exploring digital systems and community activism culminated in 2015 when the US Government accused him of cyber terrorism, seeking his extradition. Accused of participating in an Anonymous hacktivist campaign following the death of internet pioneer Aaron Swartz, Lauri demonstrated vulnerabilities in a plethora of US government security systems, including the Department Of Justice, Federal Bureau of Investigation (FBI), Federal Reserve Bank, Military, and National Aeronautics and Space Administration (NASA).
Facing a potential 99-year prison sentence, Lauri fought back with support from media outlets and the British Government with 114 MPs questioning the extradition, and a creative campaign that involved hacking into a website in order to ‘Rickroll’ the National Crime Agency (NCA) and taking control of billboards to display his messages.
His 2018 victory against extradition shed light on issues within the US federal criminal justice system, setting crucial legal precedents on prison conditions, sentencing guidelines, international jurisdiction, and the balance between privacy and investigative powers in the age of cryptography. Today, Lauri is actively involved in designing, developing, testing, and overseeing cyber security systems, among other ventures.
The threat landscape today
The digital landscape is evolving rapidly, and with this comes an alarming increase in vulnerabilities, as Lauri demonstrated through recent spikes in the Common Vulnerability Scoring System (CVSS). Geopolitical tensions, exemplified by conflicts like Russia-Ukraine, have both extended into cyber space and prompted opportunistic cyber criminals to act, heightening risks for individuals and critical infrastructure.
Exploitative websites capitalise on rising fears, tricking users into sharing personal information under the guise of checking if they’ve been ‘pwned’ (utterly defeated in video gaming)’ Concurrently, cyber attacks on pivotal sectors such as aviation and maritime, including incidents like GPS spoofing, underscore the vulnerability of our essential systems. And of course, regulatory bodies, such as the Information Commissioner’s Office (ICO), are clamping down on lax cyber security practices, imposing hefty fines on corporations who do fall victim to attacks.
In a dynamic Q&A session, Lauri underscored the opportunistic nature of modern cyber criminals, adept at identifying vulnerabilities and subsequently targeting companies operating within those spheres. With growing sophistication, these adversaries demand exorbitant ransoms, making Lauri’s emphasis on prioritising proactive measures, such as robust backups and encryption, even more crucial.
A deeper look at the AI issue
Lauri tells us that Artificial intelligence (AI) introduces both promise and challenge to this landscape. While AI offers innovative defence possibilities, it also opens the door to new cyber threats, as Lauri notes, “thinking of nefarious purposes for using tools is one of the first things people do when something new comes out,” making the security equation more intricate. It’s also important to note that AI doesn’t know everything (Lauri humorously showed how it falls down with basic school level maths challenges!)
In fact, Lauri has done an informal study to collect Chat GPT queries and see where the limitations are – and notes that in the world of generative AI “asking the right questions becomes increasingly important.”
Protecting ourselves for the long-term
In the face of a fast-moving digital threat landscape, winning the battle against cybercriminals calls for unwavering commitment to proactive measures.
Lauri reminds us that protecting ourselves and our livelihoods when connected online comes from solidarity—a collective effort where individuals, organisations, and nations stand united against the multifaceted challenges posed by cyber adversaries. Importantly, in his words, “Any company’s response to cybercrime isn’t in isolation; it relies on everyone around you at every step of your supply chain.”
The digital battlefield is dynamic, demanding continual adaptation and development. As technology advances, so do the tactics of cyber criminals. Lauri’s session wrapped up by talking about the importance of data – explaining that leveraging data-driven insights enables us to comprehend the changing threat landscape, identify vulnerabilities, and fine-tune our defence strategies. Something that IQUW embeds in its own data driven approach to cyber insurance, employing data analytics helps win a proactive edge, allowing us to predict, prevent, and respond effectively to cyber threats.
As we continue to navigate the complexities of the digital frontier, continuous development and a data-driven defence will be crucial. A huge thank you to Lauri for a brilliant, session – which our broker partners and the team at IQUW found entertaining, informative, and impactful.
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