Financial Crime World

Scammers Use Deceitful Conversations to Defraud Victims, Experts Warn

Experts have uncovered a disturbing trend where scammers are using deceitful conversations to defraud their victims. The scammer’s modus operandi involves luring the victim into a conversation that appears genuine and innocuous at first, but ultimately leads to financial losses.

Common Scam Techniques

According to a recent report, the most common type of error that leads to data breaches is the misconfiguration of knowledge databases - specifically, a lack of access controls. Basic web application attacks have also made a comeback in 2023, taking fourth place on the list of most common types of errors.

Devastating Consequences

The consequences of such data breaches can be devastating. For instance, a recent incident at Connecticut College resulted in the unauthorized disclosure of personal information, including social security numbers, of students and employees.

Prevention is Key

Experts warn that the key to preventing such incidents is to educate employees about cybersecurity best practices. “Providing employees with cybersecurity awareness training is crucial,” says an expert. “This includes recognizing new social engineering techniques and human error prevention.”

Mitigating Risk

To mitigate the risk of data breaches, experts recommend implementing access control management solutions, deploying account management tools, leveraging user activity monitoring, and managing third-party activities.

Ekran System’s Solution

One company that has developed a solution to combat insider threats is Ekran System. Their full-cycle insider risk management platform provides real-time alerts on suspicious user activity and detects malicious actions within critical systems.

Conclusion

In conclusion, experts warn that any company possessing sensitive data is at risk of being breached. The risk is especially high for industries that are frequently targeted by cyber attackers.

Try EkranSystem Today

Whether you’re concerned about human error, privilege misuse, third-party vulnerability, or credential theft, Ekran System offers a comprehensive solution to manage all these risks and more. Try EkranSystem today and see why clients from over 70 countries have already made the switch. Request access to our online demo now!