Technology has advanced significantly just in the last ten years, and with that advancement one witnesses a rise in security risks and traps. To say that technology is important in today’s culture is an understatement, and firms that do not prioritize cybersecurity and infrastructure protection run the danger of being seriously compromised. Organizations must keep up with technology’s everyday growth while also building out its infrastructure. Someone somewhere is laboring for or against technology every instant.

In the modern era of cybersecurity, social engineering is a crucial trend that enterprises must focus on as they continue to spend thousands of dollars on new software and hardware for their enterprise infrastructure. The practice of social engineering is not new and has been around for a while. It is a technique for psychologically manipulating people to get them to do things that are not in their best interests. In essence, it is a deceitful strategy to exploit people to obtain their personal information. Typically, these attacks take the form of phishing. Phishing attacks were straightforward in the early days of the internet. They consisted of sending phony emails that appeared to be from a reliable source and provided a link to a well-known website. Progressively, Phishing attacks have become more polished and now include a plethora of tactics and techniques to persuade the average Joe and even IT professionals. Phishing can be used as an email, SMS, phone call, and more.

  • The most prevalent form of phishing, email phishing, involves sending emails that are designed to appear legitimate. The email may look like it is from a trusted company, where the webpage may prompt the user for sensitive information.
  • SMS phishing, also known as smishing, is another form of attack that involves sending fake text messages that may contain a link or attachment. When the link is clicked, the victim may download malware onto their device or direct the victim to a fake website to enter sensitive information that the hackers can utilize later.
  • Phone phishing is also known as vishing. While email phishing is the most common type of phishing attack, attackers may also use tactics like phone calls, during which they pretend to be a legitimate organization in order to deceive victims. The hacker may ask for personal information or persuade the victim to transfer money.

These phishing assaults frequently deceive targets into thinking they are speaking with a reliable individual or business, and because they do not use technological flaws, they can be difficult to spot. In the past, Hackers previously put in long hours and tireless effort to gain access to intrusion detection systems made by companies like SonicWall, Cisco, and Microsoft, to mention a few. This is no longer true in the modern era. Instead, we now have people using social engineering to gain access to high-level data with very little training. Although social engineering may seem complicated to the average person, it is not. It means exactly what you think it does. It takes place during a social interaction with a person.

A survey completed by Verizon showed that 30% of phishing attacks were successful in 2020. These were instances where a system was compromised, or sensitive information was stolen. These types of attacks can cause a company to lose millions of dollars. More recently, the Anti-phishing working group Verizon(APWG) reported that 1,279,883 total phishing attacks occurred in the third quarter of 2022, and it was the worst quarter the organization has seen. This type of increase in negative data trends is a cry for concern for companies across the world. Employers must be willing to invest in this area of concern to help train and up skill their staff around social engineering and be cautious when responding to unsolicited personal or financial information requests.

It is crucial to be aware of these strategies and attentive about confirming the identity and intentions of anyone requesting sensitive information or access in order to defend against social engineering attempts. Strong security policies and procedures must be established and enforced, including teaching staff to spot suspicious activity and mandating multi-factor authentication. Here are some essential details that businesses can convey to their staff.

  • Be suspicious of emails, texts, or phone calls that seem too good to be true.
  • Don't reveal personal or financial information via email, SMS, or in person.
  • Be conscious of attachments or links from emails, even if they appear to be from a trusted source. Do not click if the link looks suspicious.
  • Use phishing training websites such as Knowbe4, Proofpoint, or Microsoft Attack simulator to educate staff.
  • Use a strong password, and don't reuse a password across multiple sites.

Overall, It is crucial that people and businesses are aware of the dangers posed by phishing and take precautions to stay safe. Phishing poses a major risk and can lead to sizable financial losses. Small or large companies must not ignore the advice herein to assist their employees. The threat of information theft will always exist on the path to even better technology. Although it is challenging to completely eradicate the threat posed by phishing, it is essential to use technology carefully to lower the likelihood of losing millions, if not billions, of pieces of data.

More Resources
Social Engineering | Interactive Verizon Data Breach Investigations Report
2022 Social Engineering Report | Proofpoint US
Report: 84% of U.S. citizens have experienced social engineering attacks (venturebeat.com)