Social engineering is the cybercriminal’s most powerful tool. It doesn’t require fancy technology or expensive software, it only needs the human mind. Social engineering is the art of manipulating people into giving up sensitive information.
What is social engineering?
Social engineering is a form of psychological manipulation that targets the human psyche to obtain information or a service. It’s most often done over the phone or on the Internet, but it can also be done in person. Social engineering is used by criminals to get people to reveal passwords, bank account numbers, credit card numbers, and other confidential information.
Social engineering attacks can be carried out by phone or email — or even in person. It’s all about finding ways to manipulate people into doing something they wouldn’t otherwise do.
Why is social engineering so dangerous?
Social engineering attacks are so dangerous because they are very successful. Scammers will go to great lengths to manipulate their victims to gain their trust. Once the scammer has their victim’s trust, the likelihood of a payout for them increases substantially. By building a relationship with their victim, scammers can manipulate their victims into doing just about anything for them. The victim feels like they are friends, partners, or simply trusted acquaintances, all the while in reality, this couldn’t be further from the truth.
What are the most common types of social engineering attacks?
Social engineering attacks take many forms and can be extremely sophisticated, making them difficult to detect. Some of the more common examples include:
Email phishing
An email phishing attack involves impersonating a legitimate business or person in order to get victims to respond with sensitive data such as passwords and credit card numbers. The scammer’s goal is usually financial gain, but they may also be attempting to steal personal information such as Social Security numbers or other forms of identity theft.
Telephone scams
Like email phishing, telephone scams often involve impersonation – pretending to be from a reputable company and asking for personal information over the phone. These attacks take advantage of your trust in established businesses and organizations you do business with regularly, so it’s important not to assume that any call asking for personal information is legitimate unless you know for sure who’s calling and why. In some cases, scammers will even pretend to be law enforcement officers in order to convince their targets into giving up sensitive info or money.
Cryptocurrency investments
A scammer poses as someone who has access to large amounts of cryptocurrency and offers victims a chance to invest in the scheme by sending them some amount of cryptocurrency first (either actual currency or a token). The victim invests their own funds into this scheme, only realizing later that it was all a scam when they don’t see any return on their investment.
Social media contact
Scammers have been known to create fake profiles on social media sites in order to communicate with potential victims and lure them into providing sensitive information or clicking on links that install malware onto their devices. These scams often involve promises of money or romantic relationships in order to trick people into downloading malicious files.
How can I protect myself from social engineering attacks?
Social engineering is a powerful tool for cybercriminals, but it’s also one that can be easily thwarted. Here are some tips to help you protect yourself:
- Be cautious of who you interact with online.
- Do not give out personal information to anyone.
- Don’t click on links or open attachments from unknown sources.
- Use strong passwords and change them frequently.
- Keep your software updated with the latest security patches.
- Use two-factor authentication whenever possible and enable it on accounts that support it.
- Install anti-virus software, firewall software, and anti-malware software on all devices that connect to the network.
Social engineering is a powerful tool that cybercriminals use to get what they want—and they’re using it more than ever. That being said, the potential for victims is enormous. Just remember that you’re not helpless in the face of social engineering, and there are some things that you can do to protect yourself from these scams. The key here is: to trust your gut instincts and don’t be afraid to ask for help if something seems off.
Looking for more information?
A cyber liability policy can help cover your business and keep you updated with industry tips like this one. Get in touch with us today to learn more about cyber liability insurance coverage, or set up a no-obligation consultation with a commercial lines expert through TelaClient.com.
