Social engineering is involved in 70% to 90% of successful compromises. It is the number one way that hackers and malware successfully attack devices and networks. No other initial root cause comes close (unpatched software and firmware are a distant second, being involved in about 33% of attacks). A particular type of social engineering is responsible for more successful compromises than any other type of attack: spear phishing.

Social engineering has long been a popular tactic among cybercriminals. Relying exclusively on information security tools does not guarantee the safety of an IT infrastructure these days. It is critically important to enhance the knowledge of employees regarding information security threats. Specifically, there is often a pressing need to educate employees about phishing. But how could phishing awareness training go wrong, and what can be done about it?

As organizations across every sector come to rely more and more heavily on digital data storage, digital work platforms, and digital communications, cyber attacks are becoming increasingly common. Enterprising cyber attackers see opportunities abound with the widespread digital transformation across industries. Social engineering cyber attacks present a particularly potent threat to organizations.

Researchers at Check Point outline various forms of tailgating attacks. These attacks can allow threat actors to bypass physical security measures via social engineering. “Tailgating is a common form of social engineering attack,” the researchers write. “Social engineering attacks use trickery, deception, or coercion to induce someone to take actions that are not in the best interests of themselves or the organization.

Job scams are a rising form of socially engineered cybercrime. And while it’s easy to imagine the trouble they cause individuals who innocently fall for them (lost opportunities, identity theft, financial loss, and so on) this form of fraud also affects businesses.

If your organization uses Microsoft Teams, then you definitely want to hear about a new way bad actors are exploiting this newly discovered cyber attack tool. "TeamsPhisher," a new tool recently discovered on GitHub, gives cybercriminals a new way to deliver malicious files directly to any Teams user. The genesis of this new cyber attack tool was published by the US Navy Red Team due to a recently discovered vulnerability in Microsoft Teams.

Email-based social engineering attacks have risen by 464% this year compared to the first half of 2022, according to a report by Acronis. Business email compromise (BEC) attacks have also increased significantly. “One out of 76, or 1.3%, of the received emails were malicious,” the researchers write. “Phishing remains the number one threat, with these attacks making up 73% of the total.

A phishing campaign is impersonating cryptocurrency trading platform Coinbase, Tech.co reports. Crypto trader Jacob Canfield described the campaign in a Twitter thread, stating that the threat actors texted and then called him.

Legitimate services can be exploited in social engineering, including business email compromise (BEC) attacks. Researchers at Check Point describe one current BEC campaign that’s using Soda PDF to send messages encouraging the recipients to call a phone number. Should they make the call, the bad actor on the line seeks to winkle them out of their cash. Check Point calls these kinds of attempts, which “leverage legitimate services to send out malicious material,” BEC 3.0.