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Avoiding the Next MGM-Style Cyberattack: Lessons from Frank Abagnale

18/10/24 By Frank Abagnale

One successful Gen AI attack on your IT Help Desk could destroy your business. Frank Abagnale tells how MGM resorts were attacked and how you can avoid being the next victim.

It’s September 2023 and at the iconic Las Vegas hotels Bellagio, Cosmopolitan and Mandalay Bay, guests are suddenly unable to use their key cards or are finding that room phones and TVs are not working. Lobby ATMs and casino slot machines are unavailable and long queues are forming in the restaurants, bars and checking desks as systems go down and electronic payments are rejected.
Resort staff are urgently resorting to pen, paper and cash while prospective customers can’t make online bookings. This chaos is not confined to Nevada but is happening at MGM resorts all over the US.

Learn key cyberattack lessons from Frank Abagnale and explore how businesses can prevent IT help desk breaches.

Just another temporary IT meltdown, right?

Wrong. This is a targeted attack and the group responsible, Scattered Spider, want a ransom paid to stop it.

I’m Frank Abagnale and I’ve been a fraud and cybersecurity advisor for the last 48 years, working closely with the FBI to train their agents, delivering thousands of seminars to corporations across the world and authoring several best-selling books. You may also recognise me as the inspiration for the 2002 Oscar nominated Spielberg movie ‘Catch Me If You Can’.

So how did the hackers gain access to MGM Resorts?

Simple, they are believed to have called the IT helpdesk and impersonated an employee, it was that easy.
They would have accrued enough information to persuade the agent to help them out, maybe they pretended to be distressed, angry or were just apologetic for being so dumb and causing all this fuss. It’s called social engineering, and I first used it as a teenager in the 1960s to get a new Pan Am pilots uniform over the phone to make me look more convincing when cashing dud checks at the bank.

While I had to use the NY phone book and some bravado to succeed, today’s criminals have a huge technical advantage which makes them a thousand times more dangerous. As businesses have adopted robust security to protect both their digital front door and their back-end systems, the IT helpdesk is now the target of choice for attackers. Agents will be reliant on the caller having the right information and maybe having access to the registered phone for that employee to receive a security code.

However, phones can be hijacked and knowledge stolen. Once criminals have access to credentials, they perform an Account Takeover (ATO) and have free access to the company’s systems. They may steal confidential data or lock everything up and request a ransom in cryptocurrency to resolve.

Generative AI elevates the threat even further as with it criminals can replicate voices, IDs and even real-time images of the targeted employee. If the caller sounds like the CEO and even looks like the CEO are they going to deny them access?

Thankfully there is help at hand. I advise a company called Trusona Inc. who have pioneered an easy to use, Gen AI resistant tool, ATO Protect, for IT help desk agents to know who is really on the other end of the line. And it’s equally applicable to finance, HR and other sensitive departments who may be the focus of an attack. Even better there’s no complicated IT deployment required so it can be up and running – and protecting your company – in no time.

 

➡️Watch Now On Demand.

Frank Abagnale introducing Ori Eisen, CEO of Trusona. Ori will be presenting Trusona’s ATO Protect product and see how you could use it to stop attackers targeting your IT help desk and avoid the chaos that MGM resorts experienced last year.
To conclude the MGM story, they were eventually able to recover control of their systems, but the attack cost them over $100M and caused their share price to dip nearly 5% – all from one fraudulent call to the IT helpdesk.

MGM could afford to take the hit, could your business?

 

professional photo of Frank Abagnale

FRANK W. ABAGNALE

Frank Abagnale is one of the world’s most respected authorities on forgery, embezzlement, secure documents, cybercrime, and scams. For over 48 years he has worked with, advised, and consulted with hundreds of financial institutions, corporations, and government agencies around the world.

Mr. Abagnale has been associated with the Federal Bureau of Investigation for over four decades. He lectures at the FBI Academy and for the FBI field offices.

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