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Growth of Cyberattacks with Social Engineering

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3 minutes read
Published: April 23, 2024

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In recent years, the indicators show a continuous increase in cyberattacks across various industries, with a significant rise in social engineering techniques due to their effectiveness. Consequently, it is crucial for organizations to consider this information to prevent cyberattacks.

Social engineering is increasingly used by cybercriminals because of its high effectiveness in exploiting information collected from users to manipulate them into performing desired actions. This can be used for credential or identity theft, obtaining bank data, or any other confidential information. This approach leverages the human factor, and without cybersecurity training, the chances of successful cyberattacks increase significantly.

How Does a Social Engineering Attack Work?

In a social engineering attack, cyber attackers spend time researching users, increasing the likelihood that they will click on a malicious link or fall into their trap. For example, in a targeted attack aimed at infiltrating a pharmaceutical company to steal patents, attackers might investigate a specific user. By using data available on social networks or other media, they can gather valuable information such as interests and relationships to achieve their goals.

With this data, they might send a campaign offering football tickets if they identify that the user’s favorite sport. When the user clicks the link or visits the compromised site, malicious software gets installed.

Social Engineering Attack Techniques

Such an attack involves various techniques to attract the victim, including phishing, smishing, vishing, baiting, quid pro quo, watering hole, and others. These attacks are challenging to detect as they often progress patiently and gradually, exploiting the vulnerability of the weakest link, the end user.

This year, attacks targeting companies and their personnel are expected to become more frequent, utilizing social networks to gather information for their campaigns. This abundance of data can even be used to clone the voices of known individuals through artificial intelligence, perpetrating more sophisticated frauds.

According to the ISACA’s 2022 study, “The State of Cybersecurity,” social engineering ranks first as the primary method cyber attackers use to breach companies. This trend is expected to continue and be further propelled by AI in 2024.

Protective Measures and Recommended Strategies

As previously mentioned, whenever an attack involves human users, the best strategy is raising awareness among corporate network users about the risks associated with their digital lives.

At Cybolt, we offer resources designed to train corporate staff in recognizing malicious emails and websites, proper password management, and other relevant topics. We also conduct periodic tests to identify and mitigate vulnerabilities within the organization.

We recommend using robust cybersecurity systems capable of alerting us to network infections and detecting advanced malicious code. Using original software and official download sites is also crucial, as pirated software can contain malware or backdoors, exposing you to cybercriminals.

For hybrid work models, encrypted communication services like VPNs should be used to ensure network security and data confidentiality.

A secure digital business life is possible, and our team is committed to preparing your company to face current risks. Social engineering attacks are a real threat with severe consequences. It is important for everyone to take steps to protect themselves.

Remember: the best defense is knowledge. Contact us at [email protected] for more information.

References:

  1. ISACA, 2022
  2. Forbes, 2024
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