What is a Social Engineering Attack?

Firewalls and antivirus can protect from several cybersecurity threats; however, cyberattacks are becoming more sophisticated and capitalize on the human side of security. This year, we are seeing threat actors prey on human error more than ever, making social engineering one of the most formidable threats, according to Information Week.

Social engineering attacks exploit human frailties by using deception and psychological manipulation to trick individuals and compromise their security posture.

As these cybersecurity tactics become even more inevitable, it is critical to fully understand what is a social engineering attack and how to safeguard against it.

What is Social Engineering in Cybersecurity?

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Organizations and their employees must understand what is social engineering and how they can help prevent it from impacting their business. A social engineering attack is a method used by malicious actors to manipulate individuals into revealing confidential information, gaining unauthorized access, or performing actions that would compromise security.

According to Enterprise App Today, nearly half of reported security problems were because someone was duped into revealing information. On top of that, they also stated that American organizations experience over 700 trick-based attacks each year.

A clear social engineering attack definition helps organizations and their employees recognize these tactics and create prevention and protection strategies.

Social engineering in cybersecurity bypasses security systems and exploits human behavior by manipulating emotions and effective decision-making. Attackers rely on tactics like creating a sense of urgency, building trust, or leveraging fear to coerce individuals into taking their desired action.

By understanding the psychology behind these attacks—such as why people might click on a suspicious link or trust an unfamiliar caller— organizations can proactively implement better training programs, enforce strict protocols, and develop security awareness campaigns to empower employees to recognize and resist click-bait.

Common Types of Social Engineering Attacks

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Within the United States, 5 of the most common types of social engineering attacks include:

1. Phishing: This is a tactic where a threat actor sends fraudulent emails or messages from a seemingly legitimate source that often seem to be urgent. The goal of these messages is to either get the recipient to reveal sensitive information or click on a link to steal their login credentials.

According to Sprinto, social engineering attempts through phishing emails jumped to 1.76 billion, a 51% increase from 2022.

Phishing can come in many different forms including Vishing (voice phishing), Smishing (SMS phishing), or Spear Phishing (crafted and targeted to a specific individual with personalized messages).

2. Baiting: Attackers leverage offers, like free downloads or gifts, to entice victims towards their desired action. These "baits" such as an infected USB drive or a seemingly harmless QR code often carry malicious software or lead to phishing sites.
   
3. Pretexting: Often malicious actors pose as authority figures, such as the Head of Security or law enforcement, to make a victim divulge information. The goal of Pretexting is to gain unauthorized access through “earned trust”.
   
   
4. Quid Pro Quo: Somewhat similar to Baiting but focused on a direct trade, Quid Pro Quo, may act like a fake IT tech with the promise of removing malware or fixing a system issue. They request login credentials or an email so that they can in exchange “fix” the perceived problem. Another situation could be a promise or cut of the money in exchange for revealing undisclosed information.

For more in-depth details about these types of social engineering attacks, check out the article "X Types of Social Engineering Attacks."

Real-World Social Engineering Example: 2023 MGM Las Vegas Ransomware Attack

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RSA Conference 2023 attendees may remember this real-world social engineering attack example well. Right around the time of the conference, attackers called into the MGM Resort and Casino help desk, posing as a locked-out employee who needed a password reset.

The malicious actor successfully tricked the internal employee, which granted the attackers access to employee accounts, where they installed ransomware.

According to NBC News, the cyberattack cost MGM Resorts about $100 million, reputational damage, and sensitive employee and guest data was compromised.

Sadly, the attackers exploited their weakness, humanity.

Forbes recently reported that 93% of organizations had two or more identity-related breaches in the past year. With those odds, it’s even more important that employees be properly trained and informed of situations like this to prevent it by double-checking and verifying before proceeding with sensitive information.

How to Prevent Social Engineering Attacks

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Businesses can prevent social engineering attacks by proactively implementing security measures including:

• Providing Employee Training and Awareness
  Security teams can educate employees about common social engineering tactics and warning signs with regular training sessions and simulated attacks. It’s important to educate employees to verify and report suspicious requests.

• Implementing Multi-Factor Authentication (MFA)
  Requiring multiple forms of verification, such as MFA, can prevent threat actors from accessing sensitive accounts or systems. MFA may involve phone calls, texts, or software-based authentication. This ensures that even if an attacker obtains a password, they cannot gain access without additional authentication.

• Using Strong, Secure Passwords
  Ensure employees use complex passwords and update them often. Organizations can enforce rules for passwords or utilize password management tools to securely manage passwords.

• Restricting Access Based on Roles
  With role-based access control (RBAC), security teams can limit access to sensitive information and reduce the risk of unauthorized users.
  

• Monitoring, Validating, and Removing
  Continuously monitoring external channels for potential impersonations and deepfakes, along with implementing security solutions, like digital risk protection applications, can help remove and ultimately prevent threats. By deploying always on discovery tools that go beyond traditional email gateways and spam filters,organizations can reduce their team's exposure to malicious attacks.

How Social Engineering Defense Platforms Protect Your Business

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Social engineering defense platforms, like Doppel Vision, provide proactive solutions to mitigate these complex attacks. With features like threat detection tools, training modules, and real-time monitoring, Doppel can safeguard businesses against these ever-evolving social engineering tactics.

Through our tailored online brand protection services and executive protection solutions​, businesses can reduce the risk of financial and reputational damage, streamline security operations, and incur compliance.

Request a demo today and learn how we can help secure organizations like yours from emerging threats and protect your ongoing commitment to security.