What is social engineering? Are you aware of how it is done and the impact it may have on you? Social engineering is one of the popular phishing methods executed using psychological manipulation. In social engineering fraud, the hackers or attackers establish a rapport with the victim and gains access to confidential information.
Social engineering is usually executed in three steps:
Establishing rapport: The first step in social engineering is to establish a rapport with the victim.
Collecting information: The second step is to collect confidential information posing as a genuine person representing a reputed organization.
Executing the fraud: The final step is to execute the fraud by performing transactions and obtain financial benefits from the victim.
How to prevent social engineering?
Use your intelligence: You should always be able to identify a hacker from the set of questions. Whenever the hacker is asking confidential information that is not relevant to the current scenario, then it could possibly a case of social engineering.
Know what you share: You should be cautious when dealing with strangers and should never share confidential information, such as your credit card CVV number and password to access your account. Additionally, even before sharing information such as your account number, PAN number, date of birth, or credit or debit card numbers, verify the authenticity of the person to whom you are sharing.
Keep yourself updated: You should keep yourself up-to-date with various social security techniques prevailing in the digital world.
Some of the social engineering attacks include cryptocurrency social engineering schemes, social engineering resulted in millions of dollars in theft, etc.