AI is giving cybercrime a makeover, and this startup just raised $15 million to fight back
Source: Fortune ·
Overwatch’s CEO says AI is merging fraud, hacking and money laundering into one threat.
From the source
AI is giving the digital criminal underworld a makeover. In fact, though rogue AI agents dominate talk of the future, AI has already changed cybercrime for good, said Arjun Bisen, cofounder and CEO at digital threat detection startup Overwatch. “The chaos of today is underappreciated,” said Bisen, a former Australian diplomat who shaped the country’s cyber engagement strategy in the 2010s. “Cybercrime has just become so effective. You see stats that say cybercrime is the third-largest economy in the world after China and the U.S. I don’t know if those numbers are accurate, but there’s some attempt at quantifying it and it does sound scary. I think it’s not fully appreciated by the public.” Cybercrime—from SMS phishing and ransomware to fake businesses moving real (and illicit) cash—has been with us in all sorts of forms since the earliest days of the internet. But Bisen has been watching as AI has made cybercrime faster, cheaper, and more interconnected. “Digital threats is a broad…