Have you ever heard of a social engineering attack? Or have you got any unusual call or message that came from your trusted bank, asking for your passcode? Or is there any message that asks you to click the link “claim a prize”? 

Well, these types of scams are increasingly common these days. Cybercriminals manipulate people into hacking by getting their personal details online. And if you have experienced this, you have likely encountered a social engineering attack.

What is social engineering? And What is a social engineering attack?

Hopefully, you have gotten an idea of what social engineering is. Let’s understand it through its definition. Social Engineering is a tactic used by fraudsters to play with individuals’ minds. They trick people by manipulating their minds and gaining access to their sensitive information, financial gains, and computer systems. That’s how they steal people’s confidential information. This can be described as a human error rather than any technical flaw in software. It is technically proven that scamming someone like this is a crime in the cybersecurity world, and the person who is the victim of this scam or attack then this attack is called a social engineering attack. It could happen because of your security mistake.

Examples of such attacks are phishing emails, pretexting, and fake phone calls, where attackers pretend to be official entities.

How Does Social Engineering Work?

This question must arise in your mind: How does social engineering even work? Don’t be confused; it’s very simple to understand that in social engineering, fraudsters trick individuals psychologically and obtain their personal information. But stealing your information is not their end goal. 

Before they contact you, they have likely gathered your information through your emails, social media accounts, or other online sources. However, they need two-factor authentication for obtaining sensitive information, which changes frequently. For this, they pretend to be your co-worker, friend, a legitimate entity, or someone professional, then play with your trust. 

For example, they might tell you that you are in danger by revealing private information that only your computer system would know, your account has been hacked and I need your password to resolve this issue. They convince you to trust them and give them your confidential information. That’s how they steal your money.

In simple words, the cycle looks like this 

Building trust or fear —— Collect information —— Exploit emotions —— Achieve their goal

Techniques Used in Social Engineering Attacks:

Let’s discuss what technique is used in social engineering attacks what is social engineering attack example of each technique. Social engineering attacks have many kinds. We will discuss here the five most common types of social engineering attack techniques. They are:

• Phishing
• Spear phishing
• Pretexting
• Scareware
• Baiting

Phishing:

One of the most common types of social engineering attacks is “ Phishing”. In this, fraudsters disguise themselves as a legitimate source e.g. a bank or government entities. The attackers or scammers send suspicious emails and messages to the persons or victims to get their credentials somehow or to get the two-factor authentication codes, and also financial details.

Example

The best example of this phishing attack is maybe some way you receive an email that claims it is sent from your bank account and there is a clear mention in the email that you should click on the link to verify your bank account or bank details. Beware of this kind of email, before clicking on any link verify that it is authentic or not because most probably you will lose your credentials or personal information by clicking on it.

Spear phishing

In spear phishing, attackers target specific individuals or organizations to make it highly personalized. Making it easier for them to install malware or steal information.

Example

You receive an email from your CEO, asking  you to share company’s information because he has some urgent work.

Pretexting

What is pretexting in social engineering? In pretexting, cybercriminals send fabricated stories to their victims to win their trust. In which they often disguise themselves as a friend, co-worker or close relative.

Example

You receive a call that pretends it is from your bank and tells you that your account has been hacked, share your passcode or PIN.

Scareware

In this type, attackers deceive their targeted victims by exploiting fear or urgency. They display fake pop-ups, browser warnings, or alarms in their system that their device is infected with a virus, click the link to secure your device. The individual clicks on the malicious downloads or makes unnecessary payments to resolve this issue. Their information transfers to fraudsters’ systems. This is how they get the victim’s personal information.

Example

A pop-up appears on your screen and says “A virus infects your computer, click the link”. That link leads you to the malware software.

Baiting

In baiting, attackers exploit  individuals’ greed. It is often delivered through physical media, e.g., USB. They promise a gift, tempting offer, or access to desirable content. As the victim clicks the link, attackers steal their sensitive information.

Example

You find a USB in a public bus. When you plug this USB into your computer. A malware installs in your computer that transfers your information to attackers.

Social Engineering Impact on Cybersecurity

No matter whether the cybercrime is small or big the impact is always wide and it will not be mitigated. Most of the time, attackers target financial gains but let’s discuss how does it impact overall.

• Steal Data: The first and foremost impact that occurs because of this social engineering attack is that fraudsters steal your login credentials and personal information.  Which can harm you personally or financially.

• Damage business reputation: Customers trust organizations and share their personal data with them. Frequently occurrence of such crimes shatter this trust. Ultimately it damages the business’ reputation.

• Legal Consequences: Organizations may face trouble if their customers file a case against them for not securing an individual’s personal data.

• Psychological Impact: Social engineering attacks severely affects a person’s psychological health. When a person is manipulated, it creates fear, anxiety, and stress.

• Risk of National Security: Social engineering attackers can harm our national security by targeting sensitive government data.

• Financial Loss: This is the purpose of attackers in major cases. They steal your money or company’s funds by obtaining all your information. If no legal action is taken, such actions may occur over and over again.
• Loss of Trust: Social engineering attacks affect an individual’s trust too. It becomes difficult for people to trust organizations that fail to protect their personal data.

What is the best control to handle social engineering attacks?

Most businesses spend a heavy amount of money on their security system, but social engineering attacks s caused by psychological manipulation. And humans can make mistakes.

We have many historical examples of social engineering attacks. Recently, in 2020, a party tricked Barbara Corcoran from ABC’s Shark Tank through phishing and stole $400,000 from them.

Well, the main point is that you have to be smart enough to handle social engineering attacks. No worries if you are thinking, What is the best control to handle social engineering attacks? We are going to discuss social engineering prevention strategies here:

Social Engineering Prevention Strategies

Awareness And Training:

Social Engineering is a result of human error rather than a system’s failure. To prevent it, companies should focus on their employees’ training and educate them about social engineering attack and how to handle such situations. It’s team work. Everyone should know the rules of staying safe. Because Twitter breach in 2020, it was attackers manipulated employees to gain access to the system.

Verify the message or email’s sender Identity:

Whenever you receive a message or email asking you for your help to restore your password or your credentials. It is the best way to confirm them via call if it is real. 

Remember that banks do not ask your PIN or password through message or call. Even it is not allowed to share this information with any person. 

Update Security Measures:

Attackers look for the loopholes. The best practice is to update your software and systems. So no one can gain access to your data.

Verification Protocols: 

Do not rely on single-factor verification or only on your passcode. It is easy for fraudsters to get your passwords through social engineering attacks. Better to use biometric access. So, even if  attackers get your password, they still need another key to unlock your account.

Use Next-Gen Cloud-Based WAF:

The best handle is to use a next-gen cloud-based WAF instead of a traditional firewall. It is specially designed to support defense in a cybersecurity strategy. It blocks sneaky attacks on your system.

Use Zero Trust Model:

Use the Zero Trust Model, so no one can access your credentials. It works on the rule of ‘never trust, always verify.’ It does not grant access to anyone without multi-factor verification.

Real-Life Example of a Social Engineering Attack: The related Press Hack

One of the most popular social engineering attacks occurred in 2013 when hackers targeted employees at a major global media company, the Associated Press (AP). The attackers used a phishing email to gain access to the AP’s Twitter account. Once they controlled the account, they tweeted false information about explosions at the White House, claiming the U.S. President was harmed. This single tweet caused widespread panic and led to a temporary $136 billion drop in the U.S. stock market. The incident highlighted how social engineering can feat trust in credible organizations, causing not only reputational damage but also far-reaching financial consequences.

Final Thoughts:

Through this blog, we have learned how social engineering works, what is social engineering attacks in cybersecurity, its prevention, and its handling.

It is very necessary in today’s tech-driven world to protect your credentials. We are using social media constantly, It’s better to share mindfully.

Please keep in mind that taking care before being a victim is very important. Social Engineers prey on every minute detail and activity. Educate yourself through platforms like Cybrary or resources like StaySafeOnline to keep yourself safe.

FAQ’S

What is a Social Engineering Attack?

A social engineering attack is a manipulation technique that exploits human error or trust to gain access to confidential information, systems, or assets. These attacks often involve tricking individuals into breaking normal security protocols.

How does a Social Engineering Attack work?

Social engineering attacks rely on psychological manipulation, where attackers impersonate trusted entities or create situations that prompt victims to share sensitive information, click on malicious links, or perform unauthorized actions.

Why are Social Engineering Attacks a growing threat?

As more personal and professional interactions move online, attackers have greater opportunities to exploit human vulnerabilities, making these attacks increasingly sophisticated and prevalent.

Be mindful. Be secure.

Read More blogs:

What is smishing and phishing?

Baiting in cyber security

What is baiting in Cyber Security?

Understanding Baiting Attacks