What is Social Engineering and What Are the Risks?

Many people are unaware of the value of their personal data and therefore share their information across various websites and platforms without considering the potential consequences. Social engineering exploits these and other cyber carelessness.

Social engineering is a strategy used by cybercriminals to trick users into disclosing confidential data and information, clicking on links to malicious websites, or even infecting their own computers with malware.

In other words, it’s a form of psychological manipulation adapted to the digital world, playing a crucial role in the development of cyberattacks and remaining a constant factor through technological advancements.

But how does social engineering actually work? Continue reading to understand the strategies and examples of attacks that employ this technique.

How Social Engineering Works

Even before discussing the digital realm, it’s important to note that social engineering has been used for years and manifests in various aspects of our lives and society.

One classic example is criminals using fake identities and occupations to infiltrate companies and institutions in search of confidential information or even money.

Among the attacks using social engineering, one of the most well-known is phishing, which uses various catchy phrases, insinuations, and social methods to “hook” victims into clicking on malicious links.

Social engineering relies on human interaction and error, employing psychological strategies.

In some cases, simple methods like direct phrases such as “click here and win a prize” are used, making it easy for attackers to access the data of individuals who lack knowledge or awareness in the cyber world.

Users are mistakenly guided to breach basic security procedures and advice, like avoiding unknown links that protect their own information.

Even though less tech-savvy individuals are the primary targets, social engineering techniques can be applied to anyone. Social networks like Facebook and LinkedIn are frequently used by criminals who, through research, attract new victims.

Meta itself recently admitted that 50,000 Facebook users might have been spied on, and their data accessed improperly. This has been characterized as one of the major surveillance crimes of the year.

The fact is that through these “methods,” various attacks can be carried out, facilitating the main goals of attackers, such as data theft, unauthorized financial transactions, and fraud.

Cybercrimes evolve with each digital discovery and exploitation. Therefore, it’s crucial for individuals and businesses to stay protected by following security protocols to avoid serious issues.

Examples of Social Engineering Attacks

As explained above, there are various cyberattacks that use social engineering, all aimed at inducing users to make mistakes that lead to access to confidential data, information, and digital environments. Here are some examples of such attacks:

Phishing

Already mentioned as a classic example of a social engineering attack. Phishing is a technique where cybercriminals send false messages to many people, tricking them into clicking on links or accessing malicious pages, aiming to steal data and even money.

Criminals impersonate trustworthy and well-known institutions and companies, copying their visual identity, email, and layout, leading users to mistakenly comply with requests and disclose vital personal information.

Quid Pro Quo

In this scenario, the user is misled by receiving a message, usually in the form of an email, claiming they have received a benefit, prize, or that their computer has a serious problem.

In exchange for more information, the user is asked for their CPF or other personal data, leading to theft or access to confidential accounts and spaces.

Contact Spamming

This is a highly dangerous type of attack where emails compromised in data breaches are used by cybercriminals to send messages to the contact lists, enticing others to click on malicious links or provide their data and access.

How to Protect Yourself from These Attacks

With the explanation of some examples, you can see that social engineering is an extremely dangerous tool, and being susceptible to providing your data is a reality that’s not too far off, right?

Protecting yourself from these attacks involves more than just installing antivirus software, as the exploited factor in these cases is human error.

However, not all is lost. Certain actions and precautions can be taken to ensure you and your company do not fall into these traps. Here are some tips:

Always Check the Source

Even though emails or messages sent in cyberattacks may closely resemble those sent by real companies and institutions, the source should not be identical. Check the description or address of the sender.

In cases where physical equipment, such as USB drives, is used, verify its origin before connecting it to your computer.

Always Verify the Sender! Attackers can be caught by details. It could be a letter, a dot, or even a whole name that does not match the location or person sending the message.

Be Cautious with Information

Especially when fake identities of close or known individuals are used, verify what the profile actually knows about you.

Ask personal questions or those only someone who truly knows you would be able to answer. This is a great way to identify a fake profile intending to steal from you or get you to click on malicious links.

Invest in the Protection of Your Devices and Systems

Protecting against social engineering traps isn’t easy, but if you already invest in security and protection for your devices and systems, blocking access or even repairing damages may be easier.

Social Engineering Attacks in Companies

Although individuals are the primary targets of social engineering attacks, they can also cause significant harm to many companies.

It’s common for employees to be “hooked” by cybercriminals when they lack proper training regarding data and information protection. In fact, according to the National BugHunt Security Survey, only 36.2% of the companies interviewed invested in cybersecurity seminars for their employees.

In other words, with this lack of understanding of the digital world, some workers end up exposing their companies to the risks of social engineering.

But not all is lost for businesses facing these risks. An intelligent way to understand if your systems and devices are genuinely secure is by hiring a Bug Bounty program.

Bug Bounty is a type of reward program where ethical hackers infiltrate your company’s network or system to identify potential vulnerabilities and areas where cybercriminals might exploit.

BugHunt is Brazil’s first Bug Bounty platform and can help you protect your company’s system! Click here to learn more.