Social Engineering

The Impact of Social Engineering

Social engineering is the psychological manipulation by cyber criminals, who makes people perform actions, like clicking on a link, or divulge confidential information, like sharing files and passwords. The estimated annual cost of cybercrime to the world economy in 2015 was $450 billion dollars. That is a staggering amount in losses. The most concerning aspect is that 90-95% of all successful cyber-attacks begin with a phishing email. It’s been estimated that around 156 million emails are sent each day, 16 million make it through the lters, and 800,000 of them are not only opened, but the phishing links are clicked, and out of those who clicked it is estimated that around 80,000 share compromising information. On top of this, each quarter some 250,000 new phishing URLs are identified.

Even though phishing can be automated in mass campaigns, the most successful campaigns are those which are tailored to an organization or person – spear phishing. However, a signicant amount are successful with mass emails that appear to come from a fake or spoofed email.

A recent variant of phishing attack is the CEO fraud, or the “business email compromise”, that starts when crooks spoof or hijack the email accounts of business executives or employees. The CEO’s email gets spoofed while the CEO is travelling and employees are tasked to transfer large amounts of money out of the country.

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“You can’t download a patch for human stupidity.” – Kevin Mitnick

Security Awareness’ Worst Practices

Download the KnowBe4 whitepaper “How to transform Employees Worst Practices into Enterprise Best Practices”, an useful guide which can help in the endorsment and testing of the New-school Security Awareness Training program in your business

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Security Awareness: an Ace in the Hole

Getting through the mass phishing email hurdle is a breakthrough point in an individual’s or organization’s phishing awareness level. Like in the learning of a new language, a breakthrough point is a turning point when the structure of a language starts to make sense and everything from that point on becomes easier to learn. Similarly, in phishing, a breakthrough point is where one becomes clearly aware of the tell-tale signs – the red flags -, and can more easily learn and pick up on new phishing techniques. In the case of a phishing breakthrough point, once achieved, a user would consistently and systematically not click on phishing links over an extended period of time.

Download the Whitepaper “Phishing – The Breakthrough Point”

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Discover KnowBe4!

The New School of innovative and interactive Security Awareness Training, combined with simulated phishing attacks, that reduces from 15% to 1.2% the percentage of your Phish-prone users and will pay your ransom if you get hit with ransomware while you are a customer and your employees stepped through the training program!

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