{"id":784,"date":"2024-10-30T10:08:36","date_gmt":"2024-10-30T10:08:36","guid":{"rendered":"https:\/\/cybersecurityinfocus.com\/?p=784"},"modified":"2024-10-30T10:08:36","modified_gmt":"2024-10-30T10:08:36","slug":"leading-reason-for-data-loss-social-engineering-insider-threats","status":"publish","type":"post","link":"https:\/\/cybersecurityinfocus.com\/?p=784","title":{"rendered":"Leading Reason for Data Loss: Social Engineering & Insider Threats"},"content":{"rendered":"
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When it comes to data loss, the biggest yet common dangers these days come from within the organization, and social engineering and insider threats are one of the main reasons. This shows that human mistakes are just as risky as external attacks.\u00a0<\/span>\u00a0<\/span><\/p>\n

In this piece, you\u2019ll see how social engineering and insider threats result in data loss. In addition to that, you\u2019ll look at real examples to understand the seriousness of such threats and talk about steps companies can take to protect themselves.<\/span><\/p>\n<\/div>\n<\/div>\n

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Social Engineering: A Manipulative Tactic to Trigger Data Loss<\/h2>\n<\/div>\n<\/div>\n
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Instead of hacking into networks, criminals use social engineering to exploit human psychology. They trick them to unwrap their personal information or to click malicious links, share passwords and allow unauthorized access to data.<\/span>\u00a0<\/span><\/p>\n

Unlike traditional attacks that try to bypass firewalls or exploit software vulnerabilities, social engineering targets human behavior, which is often the most vulnerable part of any security system.<\/span><\/p>\n<\/div>\n<\/div>\n

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How Social Engineering Works<\/h3>\n<\/div>\n<\/div>\n
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Cybercriminals use psychological methods to trick people into making critical security errors by preying on feelings like trust, fear, curiosity, or urgency. By making people think they are dealing with a reliable source, traditional cybersecurity defenses can be bypassed.<\/span><\/span>\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n

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Common Types of Social Engineering<\/h3>\n<\/div>\n<\/div>\n
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Phishing<\/h4>\n<\/div>\n<\/div>\n
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The most common type of social engineering attacks is phishing. This basically entails sending spoofed emails or messages, which a person believes are coming from a trusted source. Usually, these messages contain malicious attachments or links. The attacker may gain access to sensitive data or your system\u2019s login credentials if you click on them.<\/span><\/p>\n

One of the main causes of data breaches is phishing. The <\/span>FBI\u2019s 2023 Internet Crime Report<\/span><\/a> states that there were 323,972 reports of phishing, resulting in losses over $3.31 billion.<\/span><\/p>\n<\/div>\n<\/div>\n

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Spear Phishing<\/h4>\n<\/div>\n<\/div>\n
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Spear phishing is a type of phishing that targets specific companies or people. Attackers research the target person\u2019s roles and interests. This makes it more likely that the victim will fall for it because it makes it much easier for attackers to create messages that look genuine and personal.<\/span>\u00a0<\/span><\/p>\n

Because these attacks are so meticulously thought out, high-level employees or administrators who possess sensitive data are particularly at risk.<\/span><\/p>\n<\/div>\n<\/div>\n

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Baiting<\/h4>\n<\/div>\n<\/div>\n
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In this type of attack, hackers give away something appealing, like a free USB drive, that has malicious software. When the person uses the USB drive, malware gets installed, allowing the hacker to access confidential information.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n

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Pretexting<\/h4>\n<\/div>\n<\/div>\n
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When a person comes up with a story to obtain valuable information, it is called pretexting. They pretend to be someone who\u2019ll be trusted by the employees, like an IT support, HR person, or a business partner. They ask for passwords, account access, or other useful info under the guise of a legitimate request. This usually works because people trust certain authority figures.<\/span>\u00a0<\/span><\/p>\n

And as per <\/span>Verizon\u2019s 2024 Data Breach Investigations Report<\/span>, pretexting is responsible for 20% of the 40% of Social Engineering breaches.<\/span><\/p>\n<\/div>\n<\/div>\n

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Quid Pro Quo<\/h4>\n<\/div>\n<\/div>\n
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Like baiting, quid pro quo involves attackers offering something in return for information or actions. For instance, the attacker could pretend to be an IT expert and offer a \u201csystem upgrade\u201d in exchange for login details. This tactic usually works because people are willing to <\/span>comply with<\/span> company processes or are tempted by the offer of a reward.<\/span><\/p>\n<\/div>\n<\/div>\n

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The Evolving Tactics of Social Engineering<\/h2>\n<\/div>\n<\/div>\n
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As companies are improving their security, cybercriminals are working on their skills and getting better at their social engineering approaches. They don\u2019t just use simple phishing methods anymore. Now, they use very personalized tactics, like:<\/span>\u00a0<\/span><\/p>\n

Whaling:<\/strong> It\u2019s a practice of tricking senior executives into revealing sensitive data by sending them tailored phishing emails.<\/span>\u00a0<\/span>Deepfakes:<\/strong> Creating realistic audio or video of someone trusted to dupe employees into revealing information or transferring money.\u00a0<\/span>\u00a0<\/span>Business Email Compromise (BEC):<\/strong> Acting as a CEO or financial manager or any high authority figure to influence employees to make large wire transfers or provide financial data.<\/span>\t\t\t\t\t\t<\/p><\/div>\n<\/div>\n

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Real-World Examples of Social Engineering Leading to Data Loss<\/h3>\n<\/div>\n<\/div>\n
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The 2015 Ubiquiti Networks Phishing Incident<\/h4>\n<\/div>\n<\/div>\n
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A social engineering attempt on Ubiquiti Networks <\/span>costed<\/span> the company <\/span><\/span>$46.7 million<\/span><\/span><\/a>. The attackers fooled staff members into sending money to phony bank accounts by posing as company leaders.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n

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Google and Facebook Wire Fraud Incident<\/h4>\n<\/div>\n<\/div>\n
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Hackers tricked workers at <\/span><\/span>Google and Facebook into transferring over $100 million<\/span><\/span><\/a> between 2013 and 2015. To fool the companies, the criminals used fake bills and paperwork and posed to be a reliable supplier.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n

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\t\t\t\t\tSocial Engineering TypeDescriptionPrevalence (%)\t\t\t\t<\/p>\n

\t\t\t\t\tPhishingTricking users into revealing sensitive information via fraudulent emails or messages.90% of data breachesSpear PhishingHighly targeted phishing attacks at key personnel, often based on research about the individual.78% of organizations saw a rise in attacksBaitingLuring individuals to download malware or interact with malicious content by offering something tempting.20% of employees engage with unknown USBsPretextingCreating fabricated scenarios to deceive individuals into revealing sensitive information.Increasingly used, especially in business-related scamsQuid Pro QuoOffering a service or benefit in exchange for information or access.Growing, especially with tech-related lures\t\t\t\t<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Insider Threats: The Hidden Danger Within <\/h2>\n<\/div>\n<\/div>\n
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Insider threats are one of the elusive and most harmful ways that data can be lost. Unlike attacks from outside, internal risks come from people who already have permission to access a company\u2019s systems and important information.\u00a0<\/span>\u00a0<\/span><\/p>\n

These people can be employees, contractors, or partners, all of whom are trusted by the company. The big problem with insider threats is that it\u2019s hard to identify them because the person involved already has the right permissions.\u00a0 Insider threats can cause data to be leaked, stolen, or accidentally shared, often without being stopped by traditional security tools like firewalls or intrusion detection systems<\/a>.<\/span><\/p>\n<\/div>\n<\/div>\n

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Types of Insider Threats<\/h3>\n<\/div>\n<\/div>\n
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Malicious Insiders<\/h3>\n<\/div>\n<\/div>\n
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Malicious insiders are people who intentionally steal, share, or damage data. They might do this for money or to get back at someone. These insiders usually use their access to get <\/span>important information<\/span> or cause disruptions. <\/span>Cost of a Data Breach Report 2024<\/span> from IBM <\/span>says insider<\/span> threats <\/span>that <\/span>come<\/span> from malicious <\/span>actors<\/span> cost<\/span> companies about $4.<\/span>99<\/span> million.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n

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Negligent Insiders<\/h3>\n<\/div>\n<\/div>\n
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Careless employees accidentally cause data loss due to their mistakes or lack of knowledge. They could be tricked by phishing emails, sharing important information in insecure ways, or misconfigure systems.\u00a0<\/span>\u00a0<\/span><\/p>\n

Although they do not intend to, these employees are responsible for the majority of data loss cases. According to a study by the Ponemon Institute in 2023, negligence was the source of 55% of insider threats, and these incidents accounted for most of data breaches reported.<\/span><\/p>\n<\/div>\n<\/div>\n

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Third-Party Partners<\/h3>\n<\/div>\n<\/div>\n
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Contractors, suppliers, and business partners often have access to a company\u2019s systems and data. If their own security measures are weak or compromised, they can inadvertently cause data loss.\u00a0<\/span>\u00a0<\/span><\/p>\n

These third-party insiders might accidentally introduce malware, reveal sensitive information, or permit unauthorized access. Global Third-Party Cybersecurity Breach Report showed that at least 29% of breaches were attributable to a third-party attack vector, highlighting the increasing risk posed by outsourced service providers.<\/span><\/p>\n<\/div>\n<\/div>\n

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Real-World Examples of Insider Threats Leading to Data Loss<\/h3>\n<\/div>\n<\/div>\n
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Tesla Insider Data Leak (2022)<\/h4>\n<\/div>\n<\/div>\n
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In <\/span>a well<\/span>-publicized insider threat incident, a Tesla worker deliberately shared confidential company details, such as proprietary manufacturing information. The worker <\/span>leaked 100GBs of data<\/span>. This situation shows the <\/span>big<\/span> danger of having trusted employees who can access important systems.<\/span><\/p>\n<\/div>\n<\/div>\n

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Capital One Data Breach (2019)<\/h4>\n<\/div>\n<\/div>\n
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On July 19, 2019, Capital One discovered that an unauthorized person got access and took some personal information about Capital One credit card customers.<\/span>\u00a0<\/span><\/p>\n

After looking into it, they found that about 100 million people in the United States and about 6 million in Canada were affected by this event.<\/span><\/p>\n<\/div>\n<\/div>\n

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\t\t\t\t\tType of Insider ThreatDescriptionPercentage of Data Breaches\t\t\t\t<\/p>\n

\t\t\t\t\tMalicious InsiderEmployees who intentionally steal, leak, or damage sensitive data for personal gain or revenge.30% of all insider incidentsNegligent InsiderUnintentional data loss caused by employee error, lack of awareness, or failure to follow security protocols.56% of insider incidentsCompromised InsiderInsider credentials are stolen by external actors to gain unauthorized access to sensitive data or systems.19% of breaches involved third-party or compromised insidersThird-Party PartnerContractors, vendors, or partners with access to company data, introducing risk through weak security practices or accidental mishandling.19% of breaches\t\t\t\t<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n

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The Human Factor: Why Social Engineering and Insider Threats Are So Prevalent<\/h2>\n<\/div>\n<\/div>\n
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Both <\/span>s<\/span>ocial engineering and insider threats are common <\/span>yet dangerous as <\/span>they take advantage of the biggest weakness in cybersecurity \u2013 human error. <\/span>Be it<\/span> an employee getting tricked <\/span>with <\/span>phishing email or a dissatisfied employee intentionally sharing company secrets, the human element is <\/span>extremely<\/span> hard to manage. Training and strict security rules can help, but psychological tricks can still get past even the best security measures.<\/span><\/p>\n<\/div>\n<\/div>\n

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Why Social Engineering Works?<\/h3>\n<\/div>\n<\/div>\n
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Exploits Human Trust<\/h4>\n<\/div>\n<\/div>\n
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People usually trust authority figures, coworkers, or familiar sources, and attackers use this by pretending to be those trusted people. By acting like someone who is real and trustworthy, attackers can trick people into lowering their defenses.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n

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Bypasses Traditional Security<\/h4>\n<\/div>\n<\/div>\n
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Most cybersecurity systems are designed to block malware, viruses, and outside hacking attempts. Social engineering attacks get around these defenses because they focus on tricking people. For instance, firewalls and encryption <\/span>won\u2019t<\/span> help if an employee willingly shares their login details.<\/span><\/p>\n<\/div>\n<\/div>\n

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Targets Emotional Responses<\/h2>\n<\/div>\n<\/div>\n
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Attackers often use tactics that make people feel rushed or scared, causing them to act quickly without thinking things through. Statements such as \u201cyour account will be suspended unless you act now\u201d or \u201curgent payroll issue\u201d trigger a psychological reaction, pushing people to respond without first checking if the message is legit.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n

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Why Insider Threats Persist?<\/h3>\n<\/div>\n<\/div>\n
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Authorized Access<\/h4>\n<\/div>\n<\/div>\n
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Since insiders already have legitimate access to important data and systems, their actions usually look normal to traditional monitoring tools. To detect data loss caused by insiders, we need advanced monitoring systems that can spot unusual behavior, like accessing files not related to their usual work or logging in at strange times. Tools like <\/span><\/span>Fidelis Network\u00ae Data Loss Prevention Solution<\/span><\/span><\/a> can help find these unusual patterns and alert security teams about <\/span>possible insider<\/span> threats.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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\n\t\t\tUncover How Fidelis Network\u00ae DLP Defends Against Insider Threats!<\/span>\t\t<\/div>\n<\/div>\n
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In this in-depth guide, <\/span>you\u2019ll<\/span> learn about:<\/span><\/em><\/p>\n<\/div>\n<\/div>\n

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\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tData loss prevention<\/span><\/p>\n

\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tInspection<\/span><\/p>\n

\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tAnalysis<\/span><\/p><\/div>\n<\/div>\n

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\n\t\t\t\t\t\t\t\t\tDownload the Buyer\u2019s Guide<\/span>
\n\t\t\t\t\t<\/span>
\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Trusted Individuals<\/h3>\n<\/div>\n<\/div>\n
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Companies usually trust their employees and partners, sometimes not considering that insiders might pose a threat. This trust can blind companies to <\/span>possible risks<\/span> and delay the detection of insider-caused data loss incidents.<\/span><\/p>\n<\/div>\n<\/div>\n

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Slow Detection and Response<\/h3>\n<\/div>\n<\/div>\n
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Many insider threat incidents are not noticed for a long time because the actions are subtle and <\/span>don\u2019t<\/span> set off immediate alarms. <\/span>I<\/span>t usually takes <\/span>85 days<\/span> to find an insider threat incident<\/span>, giving malicious actors a lot of time to steal or harm important data.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Preventing Data Loss from Social Engineering and Insider Threats<\/h2>\n<\/div>\n<\/div>\n
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Due to the complexity of these threats, organizations need to use a security strategy that protects against both human and technological vulnerabilities.<\/span><\/span>\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n

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Best Practices for Preventing Social Engineering Attacks<\/h3>\n<\/div>\n<\/div>\n
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tEmployee Training: Teach employees to identify phishing and social engineering tricks.<\/span><\/p>\n

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tSimulated Phishing Attacks: Run phishing simulations to test employees and see how aware they are and how they respond to such scams.<\/span><\/p>\n

\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tMulti-Factor Authentication: Require a second verification step beyond passwords.<\/span><\/p>\n

\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tEmail Filters: Set up tools that block and flag suspicious emails.<\/span><\/p>\n

\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tZero Trust Security Models: Trust no one by default, verify everyone\u2019s access.<\/span><\/p><\/div>\n<\/div>\n

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Best Practices for Mitigating Insider Threats<\/h3>\n<\/div>\n<\/div>\n
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\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tBehavioral Monitoring: Set up systems to monitor users’ actions.<\/span><\/p>\n

\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tRole-Based Access Control (RBAC): Limit data access based on employees\u2019 roles.<\/span><\/p>\n

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tBackground Checks: Perform thorough background checks on staff and contractors<\/span><\/p>\n

\t\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>
\n\t\t\t\t\t\t\t\t\t\tData Loss Prevention (DLP) Tools: Use DLP<\/a> tools to flag and block unauthorized attempts to share sensitive data.<\/span><\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Conclusion: The Urgent Need for Comprehensive Data Loss Prevention<\/h2>\n<\/div>\n<\/div>\n
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The most subtle and complex risk to data security<\/a> today would be social engineering and insider threats. Because these types of attacks exploit human errors, they evade the traditional defenses system and, thus, go undetected. As organizations face advanced attacks, prevention, detection, and response strategies become a key necessity to address both technical vulnerabilities and human behavior.<\/span>\u00a0<\/span><\/p>\n

In today\u2019s time, not acting against these threats could result in catastrophic consequences, like losing a lot of money or hurting a company\u2019s reputation. Companies that prioritize proactive measures against social engineering and insider threats will greatly reduce the chance of losing important data, making sure their valuable assets are better protected.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Frequently Ask Questions<\/h2>\n<\/div>\n<\/div>\n
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How do social engineering attacks cause data loss?<\/h3>\n<\/div>\n
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Social engineering attacks take advantage of people\u2019s trust, making them share <\/span>important information<\/span> or give access to systems without permission. After getting access, the attackers can <\/span>steal <\/span>or damage important data, causing a data loss <\/span>incident<\/span>.<\/span><\/p>\n<\/div><\/div>\n

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How do Data Loss Prevention (DLP) tools help protect against social engineering and insider threats?<\/h3>\n<\/div>\n
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DLP tools monitor, detect, and prevent unauthorized access to sensitive data. They can identify and block unusual actions caused by insiders or social engineering tricks.\u00a0<\/span>\u00a0<\/span><\/p>\n

By using DLP solutions, companies can lower the chance of important data being shared or accessed by the wrong people.<\/span><\/p>\n<\/div><\/div>\n

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How can you tell if someone might be an insider threat?<\/h3>\n<\/div>\n
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Some <\/span>warning signs<\/span> are odd login times, <\/span>excessive<\/span> file access, copying lots of data, and employees showing <\/span>dissatisfaction <\/span>with the company. Using tools to <\/span>monitor<\/span> behavior can help catch these issues early.<\/span><\/p>\n<\/div><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

The post Leading Reason for Data Loss: Social Engineering & Insider Threats<\/a> appeared first on Fidelis Security<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

When it comes to data loss, the biggest yet common dangers these days come from within the organization, and social engineering and insider threats are one of the main reasons. This shows that human mistakes are just as risky as external attacks.\u00a0\u00a0 In this piece, you\u2019ll see how social engineering and insider threats result in […]<\/p>\n","protected":false},"author":0,"featured_media":785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/cybersecurityinfocus.com\/index.php?rest_route=\/wp\/v2\/posts\/784"}],"collection":[{"href":"https:\/\/cybersecurityinfocus.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cybersecurityinfocus.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/cybersecurityinfocus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=784"}],"version-history":[{"count":0,"href":"https:\/\/cybersecurityinfocus.com\/index.php?rest_route=\/wp\/v2\/posts\/784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cybersecurityinfocus.com\/index.php?rest_route=\/wp\/v2\/media\/785"}],"wp:attachment":[{"href":"https:\/\/cybersecurityinfocus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cybersecurityinfocus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cybersecurityinfocus.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}