Navigating The Risks Of ChatGPT On Financial Institutions


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What is ChatGPT?
ChatGPT, an advanced AI language model created by OpenAI, is gaining popularity and attention for its ability to generate human-like responses to natural language input. Trained on large amounts of data, ChatGPT's context comprehension and relevant response generation have made it a popular choice for businesses seeking to enhance customer experience and operations.
Major technology corporations are making significant investments in Artificial Intelligence (AI). Microsoft, for instance, has declared that it will invest $10 billion in OpenAI and intends to merge ChatGPT into its Azure OpenAI suite. This will allow businesses to include AI assets, including DALL-E, a program that generates images, and Codex, which transforms natural language into code, in their technology infrastructure.
While ChatGPT has several benefits for financial institutions, such as improving customer service and automating certain tasks, it also carries some risks that need to be addressed. Major banks and other institutions in the US have banned the use of ChatGPT within the organization. Concerns over sensitive information being put into the chatbot.

Risks associated with incorporating ChatGPT
Let's delve into the potential risks that are currently being debated regarding the use of ChatGPT:
- Data Exposure: One potential risk of using ChatGPT in the workplace is the inadvertent exposure of sensitive data. For example, employees using ChatGPT to generate data insights and analyze large amounts of financial data could unknowingly reveal confidential information while conversing with the AI model, which could lead to breaches of privacy or security. Another known data exposure case observed is Employees could potentially expose private code if they inadvertently include confidential information in the training data. This could occur if an employee includes code snippets that contain sensitive data or proprietary information, such as API keys or login credentials.
- Misinformation: ChatGPT can generate inaccurate or biased responses based on its programming and training data. Financial professionals should be cautious while using it to avoid spreading misinformation or relying on unreliable advice. ChatGPT’s current version was only trained on data sets available through 2021. In addition, the tool pulls online data that isn’t always accurate.
- Technology Dependency: While ChatGPT offers useful insights for financial decision-making, relying solely on technology may overlook human judgment and intuition. Financial professionals may misunderstand ChatGPT's recommendations or become over-reliant on it. Thus, maintaining a balance between technology and human expertise is crucial.
- Privacy Concerns: ChatGPT gathers a lot of personal data that users, unassumingly, might provide. Most AI models need a lot of data to be trained and improved, similarly, organizations might have to process a massive amount of data to train ChatGPT. This can pose a significant risk to individuals and organizations if the information is exposed or used maliciously.
External Risks associated with ChatGPT
- Social Engineering: Cybercriminals can use ChatGPT to impersonate individuals or organizations and create highly personalized and convincing phishing emails, making it difficult for victims to detect the attack. This can lead to successful phishing attacks and increase the likelihood of individuals falling for the scam.
- Creating malicious scripts and malware: Cybercriminals can train ChatGPT on vast amounts of code to produce undetectable malware strains that can bypass traditional security defenses. By using polymorphic techniques like encryption and obfuscation, this malware can dynamically alter its code and behavior, making it challenging to analyze and identify.
Recommendations:
- Financial institutions should establish clear policies and guidelines for using ChatGPT in the workplace to safeguard confidential information and mitigate the risks of data exposure.
- Anonymized data should be used to train an AI model to protect the privacy of individuals and organizations whose data is being used.
- Specific controls should be applied to how employees use information from ChatGPT in connection with their work.
- Awareness training should be provided to Employees who have access to ChatGPT on the potential risks associated with the use of the technology, including the risks of data exposure, privacy violations, and ethical concerns.
- Restricting access to ChatGPT will limit the potential for data exposure and misuse of the technology.
Recent Blogs

A browser-in-the-browser (BitB) attack - Cyber Advisory
A Browser-in-the-Browser (BitB) attack is a sophisticated cyber threat involving injecting malicious code into a victim's web browser.
Threat Overview:
This code creates a secondary browser within the victim's existing browser, allowing the attacker to manipulate web content, intercept network requests, and potentially gain control over the victim's browser and system. Understanding the BitB attack is crucial for organizations to develop effective mitigation strategies.

Once the website is opened, it appears as shown above (this will be the first step).

After enforcing the Full-screen display mode, only the inner browser will appear with the customized URL by the attacker.
Real-Case Scenarios of BitB Attacks:
CTM360 recently observed ongoing attack campaigns utilizing the BitB technique targeting ministries and government websites, specifically the interior ministries.
In the previously mentioned scenario, the official website of MOI Singapore remains unaffected and secure. However, the threat actor is carrying out a phishing attack by creating a fake website. Within this fraudulent site, instead of using traditional phishing methods, such as fake forms or malicious content, the attacker employs a fake browser interface within the phishing site, which appears to be the genuine site for MOI. When the victim accesses the site, they are presented with a full-screen display mode of this embedded browser, which tricks them into submitting their sensitive information.
Attack Methodology
To execute a Browser-in-the-Browser (BitB) attack, the attacker employs tactics to lure the user into visiting a malicious or compromised website. This website contains a phishing page hosted on the attacker's server. The phishing page utilizes JavaScript code to create a simulated browser window, simulating the appearance and behavior of a legitimate browser window. Within this simulated window, various types of fraudulent activities can be displayed.
Moreover, the simulated window displays a URL of the attacker's choice, such as https://accounts.google.com or https://login.microsoftonline.com. This is achieved by modifying the simulated address bar of the pop-up window using JavaScript. It may appear to the user that the specified URL is loaded within the pop-up window, but in reality, it is only shown as an image or text. The user may not notice the absence of SSL certificates or other security indicators typically present in a genuine browser window due to the full-screen display mode, which blocks the appearance of the main website’s URL due to the full-screen display model.
If the user falls victim to the BitB attack and enters their login credentials into the fake login form, the information is sent to the attacker's server via an AJAX request or a concealed form submission. Subsequently, the attacker gains access to the user's account on the legitimate service or proceeds with additional malicious activities such as identity theft or account takeover.
Potential Threats
Browser-in-the-Browser (BitB) attacks pose several potential threats and risks to victims. Here are some of the common threats associated with BitB attacks:
- Data Theft: Attackers can exploit BitB attacks to steal sensitive information, such as login credentials, financial details, personal data, or intellectual property. This stolen data can be used for identity theft, financial fraud, or sold on the dark web.
- Account Takeover: By manipulating the victim's browser and intercepting login credentials, BitB attacks can lead to unauthorized access to the victim's online accounts. Attackers may gain control over email accounts, social media profiles, online banking, or other services, enabling them to impersonate the victim or perform malicious activities.
- Malware Distribution: BitB attacks can be used as a vector to distribute malware onto the victim's system. The secondary browser created by the attacker can be used to download and execute malicious software, potentially leading to further compromise of the victim's device and sensitive data.
- Phishing and Social Engineering: Attackers can utilize BitB attacks to create convincing phishing scenarios. By simulating legitimate websites or services, they trick users into entering their login credentials or other sensitive information, which the attacker then captures and exploits.
Mitigation
The BitB attack is a tricky and risky phishing technique that can trick even careful users and bypass typical security measures. However, there are steps you can take to protect yourself from this attack:
- Be cautious of full-screen prompts: Exercise caution if a website unexpectedly opens a full-screen prompt or overlay. Take a moment to assess the situation and ensure that you are interacting with a legitimate website before entering any sensitive information.
- Be vigilant about website URLs: Pay close attention to the URL before entering any sensitive information. Check for any discrepancies or variations in the domain name or spelling that may indicate a phishing site.
- Pay attention to the details of the pop-up window, such as the size, position, appearance, and behavior of the elements. If something looks off or unusual, you should close the window and report it.
- Use a security-focused browser extension that can detect and block such phishing attempts automatically.
- Keep your browser up to date with the latest security patches and update whenever prompted by your browser.
- Make sure you have 2FA enabled for all of your critical services.
CTM360 is actively monitoring this phishing campaign and taking the necessary action by disrupting the attack and suspending the malicious site/domain. If you encounter any of such malicious sites, please report it to business@ctm360.com.
References

CXO Fraud - Scam Emails Originating From Virgin Media, Optimum And Cox.Net
There is an ongoing scam email campaign targeting executives from prominent organizations around the world. These reported email addresses on the domains are genuine email accounts of 'Virgin Media', 'Optimum' & 'Cox communications' users' which are compromised and sold on underground forums. Scammers buy and use such accounts as they have a higher reputation compared to newly created free accounts to bypass email gateways and spam filters and also lower their risk of being detected or tracked back in a bigger BEC attack.
These accounts are compromised by threat actors via phishing emails and malware, and the issue with such accounts will persist as long as end users are not careful enough while dealing with phishing and malicious emails. Based on our previous experience in response with the hosts Virgin Media, Optimum and Cox.net which are TV and cable providers in the UK and USA. They do not investigate email accounts reported to their abuse team without the original email and header information as this is a mandatory requirement as per their abuse policies. However, once this information is provided they do take action by resetting/recovering the reported account of the original user.
Additionally, enabling strict quarantine measures on your email gateway from these domains will make you a harder target and eventually the attackers moving on to another one.
RECOMMENDATIONS
- As a precautionary measure, all email from private and/or external email addresses which contain the name of your executive staff in the "From" field may flagged.
- As part of containment, please ensure to quarantine emails from the domain @virginmedia[.]com, @optimum[.]net, @optonline[.]net, @cox[.]net, @cox[.]com
- As this type of email is tricky, it is highly recommended to conduct phishing awareness training for all employees to avoid potential risks.

External Attack Surface Management: Protecting Your Organization in the Digital Age
In an increasingly interconnected digital world, organisations face a growing number of cyber threats. As businesses expand their online presence, their attack surface increases, making it more vulnerable to cyberattacks. This is where External Attack Surface Management (EASM) comes into play.
In this blog, we will explore the concept of EASM, what it includes, its importance, how it differs from security ratings, and what the future holds for this crucial aspect of cybersecurity. Additionally, we’ll discuss how CTM360 HackerView can help your organisation effectively manage its external attack surface.
What is EASM?
External Attack Surface Management (EASM) involves the continuous discovery, monitoring, and management of an organisation’s external-facing digital assets. These assets include websites, IP addresses, cloud services, and any other publicly accessible resources. A comprehensive EASM would also have the organisation’s mobile apps, genuine social media inventory, Executive Management profiles and more. EASM focuses on first building a comprehensive “Digital Asset Register” and next identifying vulnerabilities and potential entry points that could be exploited by malicious actors. By gaining a deep understanding of the external attack surface, organisations can proactively mitigate risks and prevent breaches before they occur.
From the management perspective, EASM is an essential component of a robust cybersecurity strategy. It enables organisations to see their digital footprint from the perspective of an attacker, allowing them to identify and secure weak points that could be targeted.
What is Included in an Organization’s Attack Surface?
An organisation’s attack surface consists of all the external-facing digital assets that could potentially be targeted by cybercriminals. These include:
Domains, Hosts, and Sub-Domains:
An organization’s collection of domains, along with their associated hosts and sub-domains, creates numerous potential entry points for attackers. Each sub-domain may have unique vulnerabilities that can be exploited if not properly secured.
Web Applications:
Public-facing websites and web applications are common targets for attackers seeking to exploit vulnerabilities such as outdated software or weak authentication mechanisms.
Cloud Services:
With the rise of cloud computing, organisations often use cloud-based services for data storage and processing. Misconfigurations or insufficient security measures in these services can expose sensitive information.
IP Addresses:
Public IP addresses can be scanned by attackers to identify open ports or vulnerable services that can be exploited.
Third-Party Integrations:
Organisations often rely on third-party vendors or services that have access to their systems. These integrations can introduce additional vulnerabilities if not properly managed.SSL/TLS Certificates:
Weak or expired certificates can leave encrypted communications vulnerable to interception.
A comprehensive EASM solution would also include -
Inventory of Genuine Social Media Profiles:
An organisation's presence on social media platforms can be targeted by attackers for impersonation or phishing attempts.
Mobile Apps:
Attackers can create rogue mobile apps on third party stores to impersonate trusted brands, with the goal of gaining unauthorised access to information that can be used to commit fraudulent transactions.
Executive Management Names/Profiles:
Attackers may attempt to impersonate an organisation's executive leadership for social engineering attacks.
BIN Numbers:
Payment card information, including BIN (Bank Identification Number) data, can be exposed and used for fraudulent activities.
Environments & Technologies:
The list of technologies and their respective versions visible in the organisation's attack surface can help identify potential vulnerabilities and misconfigurations.
The attack surface also includes shadow IT, which refers to information technology systems implemented by departments outside of the central IT department to circumvent the limitations and restrictions set by the central information systems.
Why is EASM Important?
EASM is critical for several reasons:
1. Technology consolidation
EASM promotes a unified security strategy, enabling organizations to consolidate their ever growing digital assets and stack of technologies and enhance the overall management of external cyber risk.
2. Reducing Attack Surface
Through continuous monitoring and assessment, EASM assists organizations in reducing their attack surface by proactively managing and securing external assets.
3. Proactive Risk Management:
EASM allows organisations to identify vulnerabilities before they are exploited. By continuously monitoring the attack surface, organisations can address security gaps promptly, reducing the likelihood of a successful attack.
4. Real-Time Visibility:
Cyber threats are constantly evolving, and new vulnerabilities emerge regularly. EASM provides real-time visibility into an organisation’s external assets, ensuring that security teams are always aware of the current state of the attack surface.
5. Regulatory Compliance:
Many industries are subject to strict regulatory requirements regarding data protection and cybersecurity. EASM helps organisations maintain compliance by ensuring that all external assets are properly secured.
6. Cost Efficiency:
Preventing a cyberattack is often far less expensive than dealing with the aftermath of a breach. EASM enables organisations to allocate resources more efficiently by prioritising the most critical vulnerabilities.
How is EASM Different from Security Ratings?
While both EASM and security ratings play a role in assessing an organisation’s cybersecurity posture, they serve different purposes and offer distinct benefits:
1. Scope of Analysis:
Security ratings are typically based on a broad assessment of an organisation’s overall security practices, often using data from public sources. EASM, on the other hand, focuses specifically on the external attack surface, providing a more detailed and targeted analysis of potential vulnerabilities.
2. Continuous Monitoring:
EASM involves continuous monitoring of external assets, offering real-time insights into the attack surface. Security ratings are often static, providing a snapshot of an organisation’s security posture at a specific point in time.
3. Actionable Insights:
EASM provides actionable insights that organisations can use to address specific vulnerabilities. Security ratings are more generalised and may not offer the same level of detail needed to implement targeted security measures.
4. Perspective:
EASM approaches cybersecurity from the attacker’s perspective, identifying entry points and weaknesses that could be exploited. Security ratings focus on the organisation’s overall security practices and controls.
What Does the Future Hold?
As cyber threats continue to evolve, the importance of EASM will only grow. Organisations are increasingly adopting digital transformation strategies, expanding their digital footprints, and moving more services to the cloud. This expansion introduces new vulnerabilities, making EASM an essential component of any comprehensive cybersecurity strategy.
In the future, we can expect EASM tools and technologies to become more sophisticated, incorporating advanced AI and machine learning algorithms to identify and mitigate risks more effectively. The integration of EASM with other cybersecurity solutions, such as Security Information and Event Management (SIEM) and Endpoint Detection and Response (EDR), will provide organisations with a more holistic approach to managing their security posture.
How Can CTM360 HackerView Help?
CTM360’s HackerView is an innovative External Attack Surface Management (EASM) platform designed to give organisations a comprehensive understanding of their digital presence from an attacker’s perspective. By combining automated asset discovery, issue identification, remediation guidelines, security ratings, and third-party risk management, HackerView empowers businesses to proactively defend against potential cyber threats.
Here’s how CTM360 HackerView can significantly enhance your organisation's cybersecurity strategy:
1. Continuous & Automated Digital Asset Discovery
One of the most critical aspects of EASM is the ability to identify and map all external-facing digital assets. HackerView excels in this area by automatically discovering and mapping your organisation’s digital footprint. Operating in a passive and non-intrusive manner, it leverages data available in the public domain to uncover assets that may otherwise be overlooked.
The platform comes pre-populated, ensuring that from the moment you start using it, you have a comprehensive view of your digital assets. This includes websites, IP addresses, cloud services, and more. Automated discovery ensures that no asset is left unmonitored, reducing the risk of shadow IT and other unsecured entry points.
One of the key advantages of HackerView is how often it continuously discovers, updates, and refreshes all assets belonging to the organisation. The platform automatically updates its inventory of digital assets every 24-48 hours, ensuring that your security team has access to the most current and complete information about your attack surface.
2. Comprehensive Digital Risk Scorecard
HackerView provides a detailed digital risk scorecard that assesses your organisation’s visible cyber vulnerabilities. This scorecard is essential for understanding your current security posture and identifying areas that require immediate attention. The scorecard is updated continuously, allowing you to track improvements or new risks as they emerge.
3. Detailed Inventory of Digital Assets
Understanding what you have is the first step toward protecting it. HackerView provides a detailed inventory of your digital assets, allowing you to keep track of all external-facing resources. This inventory is continually updated as new assets are discovered or changes are made, ensuring that your records are always accurate and up-to-6.
4. Remediation Plans & Ongoing Guidance
Identifying vulnerabilities is only half the battle; addressing them effectively is the key to maintaining a robust security posture. HackerView not only identifies issues but also provides detailed remediation plans and ongoing guidance. These plans are tailored to your specific vulnerabilities, offering step-by-step instructions on how to address each issue.
5. Third-Party Risk Monitoring
In today’s interconnected world, organisations rely heavily on third-party vendors and partners. However, these relationships can introduce additional risks if not properly managed. HackerView’s third-party risk monitoring feature allows you to assess the security posture of your vendors, partners, and other third parties with whom you share data or systems.
6. Pre-built and Custom Portfolios
The platform allows you to access pre-built portfolios that include entities from important industry sectors within your geographic region. This allows you to benchmark your organisation's cybersecurity posture against your peers, gaining valuable insights into how you measure up. Additionally, you can create custom portfolios of your key vendors and third-party providers, continuously tracking their security health and potential vulnerabilities.
In conclusion, as organisations continue to navigate the complexities of the digital landscape, EASM will remain a vital component of cybersecurity. By leveraging advanced tools like CTM360 HackerView, businesses can protect their digital assets, stay ahead of potential threats and ensure the security of their operations.