Social Engineering

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.