Research shows that 40% of cyberattacks that culminate in credential theft happen through social engineering. Unfortunately, most companies still don’t have defined policies to defend themselves against these attacks, which are so common today.

For this reason, talking about what social engineering is, its cycle and, above all, how to defend against this very common cyberattack. It is very important for companies to understand its magnitude and what to do to avoid suffering operational and even financial losses.

What is social engineering?

It is a fact that cyber scams have become routine in the corporate environment. But not everyone knows that most of them are caused by human error. The estimate is that 95% of them happen because of failures or precisely because they fall for criminals’ tricks. In this sense, social engineering has become one of the most talked about subjects among technology professionals. They seek to understand how they work and why they are so successful.

Social engineering is a manipulation technique. The idea is to exploit these errors to obtain passwords or credit card details, for example. This is always important and valuable information for companies. In other words, criminals lure people into feeling confident about divulging this information or even clicking on suspicious links that spread malware and give access to restricted systems.

How is social engineering carried out?

Before we talk about the social engineering cycle, it’s significant to understand its concept in depth. Social engineering is based on an understanding of human behavior. Understanding this behavior allows criminals to influence the actions of one or more individuals, making it easy to trick and control them into providing the information they want.

Or to put it another way, cyberattackers try to take advantage of the user’s inexperience. This is because, with the rapid evolution of technology, most consumers and employees are unable to identify certain dangers. To summarize, hackers who specialize in social engineering have one of the following goals:

Sabotage: this is when information is interrupted or corrupted in order to cause damage or inconvenience.

Theft: acquiring material goods, data or financial resources.

Learn about the social engineering cycle 

The social engineering cycle consists of several stages that criminals follow to pull off their attacks efficiently. Let’s explore each one:

• Identification: In this phase, the criminal gathers information about the victim or the target company. This can include searches on social networks, company websites, public information available online, among others.
• Planning: With the information obtained in the reconnaissance phase, the criminal plans the attack. This involves choosing the most appropriate social engineering technique, such as phishing, pretexting, tailgating, among others.
• Attack: At this stage, the criminal executes the social engineering plan. This can include sending fraudulent emails, making phone calls pretending to be someone they trust, or even physically infiltrating a restricted location.
• Exploit: Once the attack has been successful, the criminal exploits the information obtained. This can involve stealing credentials, accessing restricted systems, or even installing malware for future attacks.

Main types of social engineering attacks

Now that you know how social engineering works, let’s take a deeper look at its main attacks. Check them out:

Phishing

Phishing is one of the most common types of social engineering attacks. In this method, criminals send fake emails or messages posing as legitimate communications from well-known institutions, such as banks, technology companies or online services. 

The aim is to trick the victim into clicking on malicious links, providing personal information or carrying out actions that compromise security, such as downloading files infected with malware.

Tailgating

Tailgating involves unauthorized physical access to protected facilities. In this type of attack, the criminal takes advantage of people’s courtesy or lack of vigilance to enter buildings or restricted areas with a legitimate employee. 

This method is particularly effective in environments where physical access control is not strict or where people tend to be very trusting.

Quid Pro Quo

In the “something in return” attack, the criminal offers something in exchange for sensitive information. For example, they might call an employee posing as technical support and offer help in exchange for access to confidential systems or data. 

This type of attack exploits people’s tendency to want to help and obtain apparent benefits, without realizing that they are being tricked.

Baiting

Baiting is similar to phishing, but with a different approach. In this case, the criminal lures the victim by offering something of value, such as a music, video or software file, in exchange for harmful information or actions. 

For example, the supposedly valuable file may be infected with malware that steals data when opened, compromising the victim’s security.

Pretexting

Pretexting involves creating a false story or convincing pretexts to obtain sensitive information. For example, a criminal could call an employee posing as a co-worker, customer, or supplier and request confidential information under the guise of an urgent or legitimate situation.  This type of attack relies on psychological manipulation and the creation of false trust to gain unauthorized access to data.

These are some main types of social engineering attacks that criminals use to obtain valuable information and compromise the security of individuals and organizations. It is important to be aware of these techniques and adopt appropriate protection measures to mitigate the risks associated with these attacks.

What can you do to defend yourself?

Being suspicious is the first step to avoid falling for scams. Received an email about a prize you’ve won? Be wary. A call from an unknown number? Be wary.  In addition, adopting the idea of Zero Trust can be a smart solution for your company to be safe from cyberattacks of any kind.

Returning to social engineering, not divulging personal and banking information over the internet, avoiding impulsive attitudes and relying on authentication and prevention tools are also some actions you can take to protect yourself.

Finally, having the support of a company specializing in cybersecurity, responsible for monitoring all access to your corporate network, is strongly recommended by the Tracenet Solutions team.