Semafone‘s Global Solutions Director Ben Rafferty talks social engineering and advises that you make your priceless data completely worthless to combat fraudsters.
When a new wall goes up, criminals will always search for a door in or a way around. It’s in their nature, and it’s ultimately what fuels them. We are witnessing this transition in the cybersecurity space today.
Companies are investing more in defending their security perimeters and are using daily penetration testing to identify and remedy holes a hacker could potentially exploit. According to the SANS Institute, about 9 percent of IT budgets have been allocated to security in 2016, up from 4 percent in 2014. So-called next-generation endpoint products will surge to a predicted level of nearly $4 billion by 2020. Cyber criminals are watching a substantial wall being built between them and their targets. The skill set required to obtain the same valuable information is increasing and ever-changing.
Or is it? Just because some direct methods criminals used in the past will no longer be available to them, unfortunately there’s always another way.
Security involves people and processes in addition to technology. The most logical weakness is the human component – you and me. Hackers caught on to this years ago, and we’ve become incredibly familiar with weak spots that result in “social engineering” attacks that often involving tricking people into breaking normal security procedures. Phishing emails hit our inboxes daily, trying to convince us to approve wire transfers from our “boss,” or click a link to “save” our sick Aunt Nancy, potentially installing malware, or more recently, ransomware.