Could you be the Next Bait for a Phishing Attack?

By:
Krystal Rennie, Director of Corporate Communications,
and Brittany Demendi, Corporate Communications Manager

Have you ever received an email informing you that you’ve won an all-expense paid trip to the Bahamas in a raffle you never entered? Or received an email from a streaming service notifying you that your credit card was rejected and to click on the link to update your payment method? You’ve been exposed to a form of phishing. These are examples of email phishing, which use tactics that are untargeted but appear everywhere. By comparison, more targeted versions of phishing are more dangerous and can lead to identity theft, unauthorized access to sensitive data, or the defrauding of funds.

To an organization, phishing is always a severe risk. Phishing is an early-stage and reliable tactic used by hackers to gain access to networks as a part of a larger attack. For example, if you’ve been mentoring a graduate student for weeks and they send you an academic survey would you open it? If your CFO receives formal notification of a lawsuit from a competitor, would you contact the law firm? If your IT department sends a message about service upgrades that require a new log in, would you follow the instructions? These can all examples be examples of phishing.

Cybercriminals commonly use phishing to lure potential victims into performing harmful actions that could put your organization’s data at risk. This technique is the art of manipulating people to give up confidential information by either typing their login credentials to a fake company website or clicking a malicious attachment they thought was an invoice. Because phishing is effective and straightforward, cybercriminals launch thousands of attacks daily and can often be successful.

Five Most Common Types of Phishing Attacks

Regardless of the type of organization, large or small, they will be targeted by cybercriminals attempting a phishing attack. Phishing attacks are getting more difficult to spot, as some attacks will even surpass the most observant employees. Education on these different types of phishing attacks is essential. Below are five common types of phishing attacks:

  1. Spear-Phishing is a targeted attack that aims to steal sensitive data from a specific organization or individual. Cybercriminals lure in the victims with personal information specific to the organization or the employee to seem more legitimate.
  2. Vishing is a phishing attack that occurs over the phone. Calls are usually made using a spoofed ID to make it seem safe to answer. As an example, a hacker could pose as a representative at your bank or credit union and call to alert you that there has been questionable activity on your account. Once they’ve gained your trust, the hacker will ask for your personal account information and can use that information to commit identity fraud.
  3. Whaling is a cyberattack that includes a high-level choice of target in an attempt to steal and misuse private, personal information of senior management at a company/organization. Whaling occurs in the form of emails that are more sophisticated than phishing and are often harder to recognize due to their use of elite corporate language. The email will include personalized information about the target or organization.
  4. Smishing uses SMS to text personal information like credit card information, passwords, and more to appear legitimate and acquire additional information. The text message usually includes a call to action to demand an immediate response or reaction.
  5. Clone Phishing involves receiving a spoofed email that looks identical to one sent by someone you already received emails from. The spoofed email is malicious however, and contains new information along with malicious links or attachments.

Consequences of a Successful Attack

Although the types of phishing attacks vary regarding risk levels, one thing they all have in common is the power to damage a business. Below are a few possible results of a successful phishing attack:

  • Unauthorized transactions
  • Password and username manipulation
  • Account takeovers
  • Identity theft
  • Credit card theft
  • Stolen data
  • Stolen funds
  • Sensitive data sold to third parties

These are just a few examples of what could become compromised when these attacks occur. Companies must invest in the proper Managed Detection and Response platform and Proactive Defense Program to help protect sensitive information and train employees on security awareness.

Be Proactive Against Phishing Attacks, Not Reactive

Equipping employees with the proper knowledge is the best defense when protecting an organization’s data and assets from phishing attacks. In 2019, a major healthcare company reported that one of its employees stopped a phishing attack within 19 minutes, according to Comparitech. Their employee said that they received suspicious emails, and their Security Operations Center was able to take care of it immediately. Creating a security culture within every department, not just IT, is vital.

As phishing emails become harder to detect, investing in security awareness training like a Proactive Defense Program will be the main differentiator between robust risk management plans from the weak ones. The truth is that phishing attacks’ future depends on many factors. Cybercriminals are discovering new ways to step their game up daily and have become more sophisticated with their attacks. That said, it is up to the rest of us to find new ways to combat their tactics. At the end of the day, there is too much at stake if we do not think multiple steps ahead of cybercriminals.

Five Unique Tactics of Social Engineering Attacks

By: Krystal Rennie, Director of Corporate Communications, and Brittany Demendi, Corporate Communications Manager

Five Unique Tactics of Social Engineering Attacks is a part of Adlumin’s Cyber Blog content series. For more information about how your organization can protect itself from cybercriminals, browse more from our knowledge-rich series here.

Social Engineering Adlumin Stats

As cybercriminal organizations and state-sponsored actors grow in sophistication and capability, they remain loyal to the simple tactics and techniques that deliver results. “Social Engineering” might not carry the glamor of a technical zero-day malware attack, but it works. Social engineering works so well that 90% of cyberattacks on organizations involve some form of the tactic, according to KnowBe4. Employees are then vulnerable to influence and often become unwitting accomplices in a cybercrime.

Social Engineering is when “an attacker uses human interaction (social skills) to obtain or compromise information about an organization or its computer systems. An attacker may seem unassuming and respectable, possibly claiming to be a new employee, repair person, or researcher and even offering credentials to support that identity.”

Cybersecurity & Infrastructure Security Agency (CISA).

Social engineering tactics can take multiple forms, from collecting publicly available information on social media to conducting search engine analysis. Fundamentally, these tactics identify valuable tools and information that potential victims might seek and be more likely to interact with. Social Engineering is about gaining a user’s trust.

Social engineering strategies can involve fake emails and websites that look authentic and can fool the entire spectrum of employees. Everyone can be a target, from engineers to sales and marketers, finance admins, and senior executives. Social engineering aims to manipulate a target user into revealing sensitive data about their business or personal information. This stolen information can create a phishing campaign that looks authentic. These attacks seek to gain information and can take many different forms, making it harder to pinpoint the cybercriminal’s entry point.

Five Common Tactics of Social Engineering

  1. Scareware: An attack that bombards victims with false alarms and fictitious threats about their devices. Victims are misled to think that their systems are infected with malware, prompting them to install malicious software or malware itself. In one of the most extreme cases, following a massive credit theft from a major retailer, cardholders were contacted through phone calls and asked to update their security measures. Of course, the calls came from cybercriminals collecting victims’ PINs and passwords.
  2. Baiting: A form of social engineering that incentivizes users to take action the attacker wants. These attacks often include offers of gifts, exclusive offers, courier packages, and other well-known “lures.” Engaged users give up their personal information or sign up for fictitious accounts, exposing their passwords. Since passwords are often recycled across multiple accounts, this can create a severe breach and risk to the organization. Rarely can baiting even use physical media like flash drives. Dropped in the employee parking lot, an unassuming individual may accidentally release malware once installed on a company computer.
  3. Pretexting: In this form of social engineering, attackers approach victims requesting sensitive information necessary to complete a critical task or service. Appearing as friendly actors, these criminals solicit data about the victim using various motivators like tax refunds, payments, deliveries, or business-related projects.
  4. Spear Phishing: These attacks target individuals with roles within the company, seniority, rank, authority, and access to critical systems. They often target professionals such as lawyers, doctors, or engineers presented with fake license complaints and lawsuits. In other cases, executives were targeted with emails and branded file shares containing lawsuit filings, the basis of which was stolen from publicly available court filings and stolen litigation material. Spear Phishing is perhaps one of the most challenging forms of engineering because it is extremely difficult to distinguish from legitimate traffic and communications.
  5. Quid Pro Quo: This type of attack centers around an exchange of service or information convincing the victim to act. Typically, the cybercriminal will promise rewards or leverage implicit work motivations to the victim for information that can be used to steal money or take control of a company account or data. One of the most common examples is when the cybercriminal poses as an IT employee asking for or offering technical support.

Many social engineering schemes happen daily. Like all strategies, some techniques are more well-known than others. However, unlike other cyberattacks, human interaction is a critical component of social engineering, which should make you think more carefully about your daily interactions on the internet. These attacks underline the importance of understanding that attacks are much harder to identify and often dupe employees in the early stages of a much larger cyber campaign.

Training is Key to Proactive Defense Against Social Engineering

Employees are your organization’s first line of defense regarding protection from social engineering methods. If employees are not appropriately trained against these tactics, your security software can only defend you until someone clicks on a malicious link.

Yes, there are ways to hunt these threats before they take over your IT network, but it’s best to think proactively and put the fire out at the source.  Finding and implementing the right Proactive Defense Program will empower employees with skills to find and report suspicious activity. These are not just one-off sessions that overwhelm employees with the information they soon will forget. It’s consistent training that creates a positive cybersecurity culture within the organization.

Training needs to be persistent and delivered in small doses throughout the year for information retention. Proactive Defense Programs use real-life de-weaponized attack campaigns to test employees. In addition, implementing training ensures your organization complies with set industry regulations and set policies and tracks and trains high-risk users.

What’s Next?

Now that you have this new information, you might wonder, what’s next? The best advice when attempting to combat social engineering threats is to know the signs and prioritize implementing a Proactive Defense Program throughout your company. Social engineers manipulate feelings and human logic to lure victims into their traps. As a result, we must be wary of what we open, click, and interact with while navigating our online experiences. Always remain alert and trust your gut instinct; if something doesn’t feel right, nine times out of ten, it isn’t right.