Dangers of Social engineering attacks are now being an imminent threat online and very much harmful since these attacks or hacks uses psychology as their trick and the victims sometimes may not be aware that they have been manipulated. When hackers use authority bias during an attack, they are frequently leveraging a prejudice that people are unaware they have. This poses a difficult to quantify danger for professionals.
In order to conduct cyberattacks and data breaches rather than solely depending on technology. Cybercriminals get access to private data, digital and physical corporate resources, and infrastructure when they violate people’s trust and confidence. They can also persuade users (employees, clients, and customers) to download malware, transfer money, or take other risky acts.
Why is social engineering dangerous?
People’s trust and confidence are the foundation of social engineering. Attackers invest a lot of time and money in learning as much as they can about the victim. Important information (possible entry points, weak protocols, etc.) is obtained and by using a combination of words and technology (emails, voice calls, etc.), they manipulate the victim into believing them.
The element of human error by trusted users, rather than a fault in software or operating systems, is what makes social engineering so deadly. In order to properly defend against them, it is crucial to understand how and in what manner social engineers mislead others to achieve their objectives.
The dangers of social engineering attacks and how it works?
Social engineering attacks are relatively simple and the dangers of social engineering relies on human error rather than any system malfunction. All a hacker needs to do is persuade one person who is uninformed, stressed, or trusting to do what they say.
And the end product is well worth it.
Hackers fooled Twitter employees into giving them access to internal tools in one of the most high-profile social engineering assaults of all time [*]. The hackers then took over the accounts of people like Joe Biden, Elon Musk, and Kanye West in an attempt to convince their large following to pay Bitcoin to the hackers.
These assaults are quite simple to execute, and they all follow a similar pattern.
A social engineering attack comprises four stages:
- Discovery and investigation
- Deception and hook
- Attack
- Retreat
1. Discovery and investigation
Scammers begin by finding people who have what they want. This typically involves credentials, data, unlawful access, money, sensitive information, and so on.
Then they go online and look for possible victims. They will, for example, check at your internet footprint, where you work, what you share on social media, and so on.
Once the hackers know who you are, they use this knowledge to create the ideal personalized attack. Because the assailant knows so much about you, you’re more likely to let down your guard.
2. Deception and hook
Scammers will hunt for prospective entrance points as they learn more about their victims. These could include your email address, phone number, and social media account – anything that allows them to contact you and set up an assault.
Then they approach you with a “hook” to pique your interest.
Assume you recently received a new work title and announced it on LinkedIn. Scammers can simply impersonate an email from a well-known industry website and request an interview. Why wouldn’t you respond to something that appears to be innocuous and normal?
3. Launch an attack
When you fall for the hook, the fraudster will engage in one of numerous sorts of social engineering tactics.
For example, the scammer may discreetly install malware on your device after you click a link to schedule an online interview. The next thing you know, your entire corporate network has been infected and gigabytes of important data has been taken.
Small cybersecurity blunders like this can cost businesses a lot of money. A firm data breach costs an astounding $3.86 million on average [*].
4. Retreat
Criminals will leave as little evidence as possible after completing their task. The average time it takes to discover a cyber assault or data breach is close to 200 days, so you won’t even know what happened until it’s too late.
The 12 Most Common Types of Social Engineering Attacks
- Phishing attacks
- Spear phishing
- Whaling
- Baiting
- Smishing (text message phishing) and Vishing
- Confidence tricks and pretexting
- Piggybacking/Tailgating
- Quid Pro Quo (i.e., tech support scams)
- Business Email Compromise (BEC)
- Scareware
- Honeytraps (romance scams)
- Watering hole attacks
1. Phishing
Phishing is the starting point of 90% of all cyberattacks and listed on the top while we are thinking about the dangers of social engineering attacks. Phishing attacks use a variety of delivery methods, including email (typically bulk email campaigns), chats, digital advertising, websites, and social networking sites, to spread their messages. These imposters include banks, NGOs, huge enterprises, reputable charities, and even a person’s employment.
The messages are designed to evoke a sense of urgency or anxiety that persuades the user to act in accordance with the attacker’s wishes (give access to confidential information, download malware, wire money, etc.). For example, the attacker might send emails to staff members, pretending to be the firm CEO, pleading with them to do anything that would reveal their login information to the attacker.
While spear-phishing enables personalization and one-on-one targeting, phishing is typically planned as a bulk operation. Nearly 70% of US hackers are reported to consistently use this technique to start hacking, making it one of their most important tools. This is true despite the fact that spear-phishing takes more time and effort to execute.
There are three primary objectives of every phishing scam:
- Get you to click a link. Links in phishing emails frequently install malware on your device.
- Request you to download an attachment. Additionally, con artists disguise spyware and viruses as genuine attachments. For instance, hackers will send an email purporting to be from a law firm with an attached “court notice to appear.” However, upon download, your smartphone is infected.
- Encourage you to enter your credentials on a website. Many times, hackers will attempt to trick you into entering your credentials on a website that appears authentic. For instance, they may send you an email stating that your online account has been compromised and requesting that you reset your password. But anything you type, including your username and password, is sent directly to them.
The use of compromised credentials and malware can result in identity theft, financial fraud, account takeovers, and even corporate espionage.
For example, the attacker might impersonate a bank employee and request the victim’s credit card information while warning that the card is going to be stopped or advising that the victim is eligible for better deals.
2. Sphere phishing
Normal phishing assaults do not target a single individual. However, spear phishing occurs when hackers target a single people or business.
Almost 60 percent of IT decision-makers consider targeted phishing attacks to be their greatest security risk [*].
In 2015, hackers used spear phishing to commit a $1 billion theft spanning 40 nations. The fraudsters sent bank staff phishing emails with an attached software payload. Once clicked, the hackers were able to remotely infect ATM systems and take control of employee computers.
Angler phishing is a new variant of spear phishing. This occurs when fraudsters pose as customer support accounts on social media in an attempt to obtain your login details.
3. Whaling
Whaling is a name for phishing attacks that target a specific, prominent individual. Typically, a businessperson, political officer, or celebrity.
Cybercriminals consider the targets of whaling assaults “big fish.” Scammers have the ability to obtain either significant money rewards or access to vital data from these targets.
In the instance of celebrities who have been hacked, con artists hope to obtain incriminating images that they can use to demand excessive ransoms.
In another instance, hackers send C-level staff emails that look to originate from within the victim’s firm. The sender claims to have access to confidential information about a coworker, but is too terrified to disclose the matter in person.
Instead, they will submit their proof as a spreadsheet, PDF, or PowerPoint presentation.
When victims click on the link, however, they are redirected to a fraudulent website. In addition, if they attempt to open the attachment, malware will infect their PC and spread to their network.
Protect your devices from infection with the powerful antivirus software, it can defends your devices and networks from hostile intrusions.
4. Baiting
The victim’s attention, interest, or desire are sparked, as the name implies, by providing them with what they want and persuading them to install malware on their machines or provide personal information.
Social engineers frequently employ this technique on peer-to-peer file-sharing websites, sites for downloading movies or music, or even directly through flash drives with a firm logo left on a desk. Baiting can also come in the shape of phony emails giving free coupons, too-good-to-be-true internet offers, etc.
5. Smishing (text message phishing) and vishing (voice phishing)
Phishing is not usually restricted to bogus emails and websites.
Smishing is the practice of phishing through the use of SMS text messages. Scammers purchase faked phone numbers and send malicious links via mass text messages.
Additionally, there is vishing, which is identical to phishing but conducted over the phone.
Vishing is particularly prevalent in corporations. Scammers will contact a company’s front desk, customer service, HR, or IT department and pretend to need an employee’s personal information. Mortgage lenders attempting to “verify” email addresses and executive assistants asking password changes on behalf of their bosses are examples of deceptions.
All of these phishing techniques can result in identity theft, malware, and financial ruin.
6. Confidence Tricks and Pretexting
This kind of social engineering is carried out by creating creative communication that appears authentic (emails, phone conversations). Here, the hacker establishes confidence with the victim by posing as a colleague or other authority figure with a right to know information.
As an example, the hacker might call the victim and pretend to be X from the IT department in order to obtain login information under the guise of an audit.
7. Piggybacking/ Tailgating
The hacker or unauthorized individual in this case follows an authorized user into a restricted location to gain physical access to company assets. An attacker might, for example, get past physical protection by telling a worker to hold the door because they have forgotten their ID. The victim can be asked to give their computer or laptop for a short period of time so the attacker can install malware.
8. Quid Pro Quo assaults (i.e., tech support scams)
Quid pro quo translates to “a favor for a favor.”
The most prevalent form of a quid pro quo assault is perpetrated by fraudsters posing as an IT department or other technical service provider.
They will call or text you with an offer to speed up your internet, extend a free trial, or even provide gift cards in exchange for downloading software.
The only action required of victims is to register a free account or provide/verify their login credentials. When con artists obtain this sensitive data, they will use it against the victim or sell it on the Dark Web.
9. Business Email Compromise (BEC)
In 2021, the FBI received approximately to 20,000 business email compromise (BEC) allegations, costing businesses about $2.4 billion [*].
There are principally three types of BEC social engineering attacks:
- Impersonation: This occurs when con artists send forged emails posing as employees, trustworthy vendors, or clients. They will request that their victim submit fraudulent payments, alter payroll and direct deposit information, or divulge sensitive data.
- Account compromise: When hackers acquire access to a valid employee email address, this occurs. Scammers can reply to and send emails with malicious code company-wide (to clients, vendors, etc.).
Discussion hijacking This is a sophisticated account compromise attack. - Thread hijacking: This is a sophisticated account compromise attack. Hackers engage in thread hijacking when they search hijacked inboxes for topic lines including “Re:.” They then automatically reply with messages containing malware. Since they “know” the sender, they open the infected email without hesitation.
BEC assaults typically go undiscovered by cybersecurity teams, hence their prevention requires specialized awareness training.
10. Scareware
Scareware, also known as fraudware, deception software, and rogue scanning software, causes victims to fear immediate danger. For instance, you may receive a notification that your device has been infected with a virus.
Scareware frequently appears as browser pop-ups. It can also be found in unsolicited email.
Victims are expected to click a button to eradicate the virus or download anti-malware software. However, doing so is what allows the malicious software to enter the system.
11. Honeytraps (romance scams)
Honeytraps are a form of romance fraud in which con artists establish fictitious online dating and social media profiles with stolen images of attractive people. In a military romance scam, for instance, the con artist will appear as a service member stationed far away and unable to meet in person.
As soon as they find a target, they will send flirtatious and seductive texts and swiftly declare their love for the victim. But, they need the victims to contribute presents, cash, or bitcoin to confirm they share the same sentiment.
Honeytraps are particularly prevalent on social media platforms such as Snapchat. Always maintain safety and be aware of the risks associated with internet dating.
12. Watering hole attacks
When hackers infect a website they know you frequently visit, this is called a watering hole attack.
When you access the site, malware is downloaded automatically (known as a drive-by-download). Alternately, you will be redirected to a false version of the website designed to steal your credentials.
For instance, con artists could redirect you from a standard login page to one meant to steal your username and password. It will appear just the same. However, whatever you enter will be sent directly to the scammer.
This is why having a password manager is so crucial. Even if a phishing website appears identical to the real one, a password manager will not enter your credentials automatically.
Who Are the Most Common Victims of Social Engineering Attacks?
Every social engineering attack seeks to obtain sensitive information such as bank accounts, company data, or Social Security numbers. The greater someone’s access to what criminals seek, the more appealing that target becomes.
Most victims of social engineering attacks are:
- High-worth individuals, high-profile employees, and high-level leaders: Criminals prey on folks with easy access. As a result, CEO fraud has become a $12 billion swindle [*]. Setting up fraud monitoring to inform you if anyone gains access to your personal financial accounts is always a smart idea.
- Popular online celebrities: Individuals who reveal more personal information online are more likely to become targeted. They could be targeted if your spouse has 50k Instagram followers or your child is a prominent video game broadcaster.
- Employees and younger generations who are unaware of cybersecurity concerns: According to one survey, 45 percent of millennial employees have no idea what phishing is, despite the fact that it is the most common sort of social engineering assault. To make matters worse, only 27% of businesses offer social engineering awareness training [*].
Scammers do not simply target persons in these demographics. The truth is that social engineering attacks can happen to anyone.
Examples of Social Engineering Attack Scenarios
Cyber criminals who are astute understand that social engineering works best when it focuses on human emotion and risk. Exploiting human emotions is considerably easier than hacking a network or looking for security flaws.
The following are some recurring themes in effective social engineering attacks.
Fear
You receive a message informing you that you are being investigated for tax fraud and that you must call immediately to avoid arrest and criminal prosecution. This social engineering attack occurs around tax season, when people are already stressed out about paying their taxes. Cyber fraudsters capitalize on the tension and worry associated with tax preparation and use these dread feelings to deceive individuals into complying with the voicemail.
Greed
Consider transferring $10 to an investor and watching it grow to $10,000 with no effort on your part. Cyber criminals exploit basic human feelings such as trust and greed to persuade victims that they may truly receive something for free. A skillfully prepared enticing email informs victims that if they supply their bank account information, the monies will be transferred the same day.
Curiosity
Cyber criminals pay attention to incidents that receive a lot of media attention and then use human curiosity to fool social engineering victims into acting. For example, following the second Boeing MAX8 plane crash, cyber criminals sent emails with files purporting to contain leaked crash data. On the victim’s computer, the attachment installed a version of the Hworm RAT.
Helpfulness
Humans want to believe in and aid one another. After investigating a company, cyber crooks send an email that appears to be from the targeted individuals’ boss to two or three employees. The email requests that they submit the password for the accounting database to the manager, emphasizing that the management requires it to ensure that everyone is paid on time. The email tone is urgent, leading the recipients to believe they are assisting their management by acting immediately.
Urgency
You receive an email from customer service at a popular online shopping website informing you that they need to validate your credit card details in order to protect your account. The email phrasing encourages you to answer immediately in order to prevent crooks from stealing your credit card details. You send the information without hesitation, and the recipient uses your information to make thousands of dollars in fraudulent purchases.
How to Protect Yourself From Social Engineering Attacks
The majority of social engineering attacks are based on simple human error. As a result, make sure you’re always up to date on the latest fraud protection techniques and are aware of dangers of social engineering attacks and other developing cybercrimes.
Then, to protect yourself and your family from social engineering attacks, follow these guidelines:
- Narrow your online footprint: The less information you give online and on social media, the more difficult it is for hackers to target you. Personal information should not be posted. Even real-time vacation photos and your child’s school name can be used against you.
- Install a good antivirus software: Today’s levels of ransomware, malware, and spyware are unparalleled. Don’t let these malicious software ruin your privacy. To keep your devices safe, use an antivirus solution.
- Use a VPN When browsing and shopping online: VPN scrambles the data you send and conceals your location.
- Use two-factor or multi-factor authentication (2FA/MFA): This adds a layer of security to all of your accounts. So, even if a hacker tricked you into submitting your password, they will still require a secret code that only you have to obtain access to your accounts. Instead of 2FA through SMS, use an authenticator app for maximum security.
- Keep an eye on the Dark Web for your exposed data: Hackers frequently sell your personal information on the Dark Web.
Conclusion:
The vast majority of Americans are aware of large-scale social engineering attacks. They can’t imagine how the same attacks could harm their own reputations, families, and businesses.
Anyone can fall victim to well-planned social engineering strategies. And even basic human error has the potential to be devastating.
The first step is to learn how to recognize various sorts of social engineering attacks. Consider using an identity theft and device protection program. Military-grade encryption, Wi-Fi and network security, malware and phishing warnings, and a comprehensive suite of fraud detection and identity theft protection.
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