Social Engineering

Account Security Fraud
Social engineering is a manipulation technique that exploits human error to gain private information, access, or valuables.

What is Social Engineering?

Social engineering is a manipulation technique that exploits human error to gain private information, access, or valuables. It often involves tricking individuals into breaking normal security procedures.

How Social Engineering Occurs?

  1. Phishing
    • Deceptive Emails: Fraudsters send emails that appear to be from legitimate sources, tricking individuals into providing personal information.
  2. Pretexting
    • Fabricated Scenarios: Creating a believable pretext to obtain sensitive information.
  3. Baiting
    • Tempting Offers: Offering something enticing to lure victims into giving away information or access.
  4. Tailgating
    • Physical Entry: Gaining unauthorized physical access by following someone into a restricted area.
  5. Vishing
    • Voice Phishing: Using phone calls to trick individuals into revealing confidential information.

What are the Impacts of Social Engineering on Businesses?

  1. Financial losses
    • Fraudulent Activities: Financial losses from fraudulent activities enabled by social engineering.
  2. Data Breaches
    • Compromised Information: Loss of sensitive company data due to successful social engineering attacks.
  3. Reputation damage
    • Trust Issues: Damage to reputation and loss of customer trust due to breaches and fraud.
  4. Operational disruption
    • Business Interruption: Disruption of business operations due to fraud investigations and mitigation efforts.
  5. Increased Security Costs
    • Training and Prevention: Higher costs for employee training and implementing advanced security measures.

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