Financial Crime World

Cyberattacks: “Social Engineering” Ruse Used to Defraud Victims

A recent report has highlighted the alarming trend of data breaches in various industries, with “social engineering” techniques being used to deceive victims and gain unauthorized access to sensitive information.

Misconfiguration of Knowledge Databases a Common Cause of Data Breaches

According to the report, the most common type of error leading to data breaches is the misconfiguration of knowledge databases, often due to a lack of access controls. This vulnerability can be exploited by attackers using social engineering tactics to lure victims into deceitful conversations.

Real-Life Example: Unauthorized Access at Connecticut College

In one disturbing example, an unauthorized party gained access to personal information, including social security numbers, of students and employees at Connecticut College in March 2023.

Ways to Mitigate the Risk of Data Breaches

To prevent data breaches, experts recommend implementing various cybersecurity measures. These include:

  • Providing employees with cybersecurity awareness training to recognize new social engineering techniques.
  • Configuring enterprise software and assets securely to protect sensitive databases and servers.
  • Deploying an access control management solution to restrict user access to databases and prevent data misuse.
  • Utilizing account management tools to monitor user activity in real-time.
  • Implementing user activity monitoring (UAM) to detect and prevent malicious activities.
  • Managing third-party vendor activities to prevent supply chain breaches.

Full-Cycle Insider Risk Management Platform

To stay ahead of cyber threats, organizations can leverage a full-cycle insider risk management platform like Ekran System. This solution provides real-time alerts on suspicious user activity, detects malicious actions, and offers customizable notifications to ensure timely response.

Protect Your Organization from Insider Threats

Don’t wait until it’s too late. Request access to the online demo of Ekran System today and discover how our universal insider risk management platform can help you detect and prevent insider threats.

With Ekran System, your organization can:

  • Provide employees with cybersecurity awareness training
  • Configure enterprise software and assets securely
  • Deploy an access control management solution
  • Utilize account management tools to monitor user activity
  • Implement user activity monitoring (UAM)
  • Manage third-party vendor activities

Stay Secure with Ekran System

Don’t let social engineering attacks compromise your organization’s sensitive data. Stay secure with Ekran System and protect yourself from the latest insider threats.