Tue. Dec 10th, 2024

Warning: Cyber Criminals Using Social Engineering to Steal Money

By ScamRipper May 2, 2023

Social engineering is a type of fraud that involves manipulating people into divulging confidential information or performing certain activities, such as making a financial transaction. Cyber criminals use a variety of techniques to carry out social engineering attacks, including phishing, pretexting, baiting, and tailgating. Phishing is a type of social engineering attack where criminals send out malicious emails in order to steal sensitive information or infect users’ computers with malware. These emails often appear to come from a legitimate source and may even include the logo of a legitimate company.

The emails typically contain a malicious link or attachment that, when clicked, will download malicious software or direct the user to a malicious website. Pretexting is another type of social engineering attack where criminals create a false identity in order to gain access to private information. They may pretend to be a representative from a legitimate company in order to get access to confidential information such as banking details or passwords. Baiting is another form of social engineering attack where criminals use an attractive offer to entice victims into revealing private information.

Cyber crime
Cyber crime

For example, they may offer free software or a “bargain” on a product in order to get victims to give away their banking details. Tailgating is a type of social engineering attack where criminals follow people into secure areas and then use their access to steal confidential information or commit other crimes. They may also follow an employee into a building and then try to gain access to a secure area by pretending to be a legitimate visitor. Social engineering attacks can be difficult to detect, as the criminals often use tactics that appear to be legitimate. However, there are several steps that businesses can take to protect themselves from such attacks.

These include educating staff on the dangers of social engineering, regularly reviewing security policies, and implementing two-factor authentication. Companies should also be vigilant in monitoring their networks for unusual activity, such as sudden increases in traffic or suspicious emails. By taking these proactive steps, businesses can protect themselves from the increasing threat of social engineering attacks and the potential financial losses they can cause. By remaining vigilant, businesses can ensure their data is safe and secure, and that their customers’ sensitive information is not compromised.

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