Social Engineering Attacks: Are You Prepared for Human-Centered Cyber Threats?

Social engineering is one of the most challenging cyber threats because it targets the human element. Hackers use deception to manipulate employees into revealing sensitive information or transferring funds. Imagine if a convincing email or phone call led an employee to unknowingly give access to the business’ bank  accounts.  How would your business handle the fallout? 

Social engineering attacks can take many forms, including phishing emails, pretexting (impersonating a trusted person), or baiting employees with false promises. Unlike technical breaches, social engineering bypasses security measures by exploiting trust and human error. Does your business have a strategy to detect and respond to these types of attacks? 

The first defense is to prevent social engineering attacks through employee education. Engage a cyber security firm to train employees regularly on the ever-changing threats in cyber crime. Quarterly training is a best practice activity for any organization whose employees regularly use the internet and email. Many policies offer resources for employee training, so your team learns to spot suspicious requests and becomes your first line of defense against these tactics. 

Despite the best training, sometimes, these deceptive attacks slip through.  If they do, cyber insurance can provide a safety net. A comprehensive cyber policy can help cover financial losses resulting from fraudulent transfers, data breaches, or reputational damage caused by social engineering.  

Del Vath is a cyber risk consultant and resource manager for Knight Insurance Group