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Phishing revealed as number one organization attack

-BSI raise awareness of social engineering techniques for Cyber Security Month-

28 October 2020

A recent poll¹ carried out by BSI highlighted phishing as the most frequent organization hack for 59 per cent of respondents, this was followed by malware at 44 per cent, web hack at 21 per cent, credit card hack at 18 per cent and wireless compromise at 12 per cent. For Cyber Security Month, BSI’s cybersecurity and information resilience team are focused on supporting organizations and individuals across industry sectors to raise awareness and mitigate the risks of social engineering techniques.

Social engineering techniques are becoming increasingly sophisticated and are being used to trick individuals into divulging confidential information or taking an action that may not be in their best interest. Understanding and being aware of the social engineering techniques attackers use is vital for everyone.  Here BSI outlines the seven most common techniques currently being utilized:

  1. Phishing - this is the most prolific form of social engineering and is becoming increasingly sophisticated. It is a fraudulent attempt, whereby the attacker endeavors to steal personal or sensitive information by pertaining to be a well-known or trusted contact of the victim such as a colleague, bank, utility company or government department.
  2. Spear phishing - this is where an attacker targets a specific individual of value within a business sector, company or department and will research the target extensively to maximize their chances of success. Research can include obtaining specific knowledge about the individual and its organization through research, social media profiles or using other publicly available information.
  3. Whaling attack - this is seen as a ‘big fish capture’ with the email designed to masquerade as a ‘critical’ business email containing highly confidential information. It is sent to upper management, claiming to be from a legitimate authority. This sophisticated phishing attack is used to steal confidential information, personal data, access credentials and specific high value economic or commercial information.
  4. Smishing (SMS phishing) - potentially the most financially damaging attack type, this popular technique carried out on mobile phones, is where a scammer sends a text message purporting to be from reputable companies that encourages the victim to pay money out or click on suspicious links.
  5. Voice phishing (vishing) - scammers use this phone social engineering technique to gain access to personal and financial information by pretending to be a co-worker, bank official, a person of authority or trusted individual. Typically asking to confirm identity information, this technique is used to steal credit card information and relates to identity theft.
  6. Business Email Compromise (BEC) / Email Account Compromise (EAC) - attackers identify and research a target organization, send spear phishing emails or calls to a victim and convince them to perform legitimate business transaction
  7. Baiting (or physical baiting) - this is a wide scale attack using online adverts, websites or even memory sticks left in visible places. The adverts can include offers too good to be true or have urgent warnings. Once the victim clicks through or opens the memory stick a pop up will appear tricking the user into giving personal information or giving a link to click that can result in a malware download.

Adam Hall, Senior Consultant - Cyber, Risk and Advisory at BSI explains: “Social engineering has escalated over the last few months and continues to rise day by day. With October being Cyber Security Month, we wanted to focus on raising awareness and educating on how to identify various threats to help improve the security postures of employees across all industry sectors as well as the wider community.”

“Our advice is to always think before you click, if it sounds too good to be true, it probably is. Be aware of current phishing campaigns and the tone of an email and be particularly aware when it requests username and passwords or when it uses impersonal phrases. Always check if the senders’ address and the URL link match the company- roll the mouse over the link to see what the website is. If you have any doubt about the legitimacy of an email or any of the above technique scenarios we have highlighted, do not give out any information or open the email. Contact the individual directly by phone (using the advertised company phone number) to check for authenticity and report it to your IT department or relevant authority.”

Additional details on social engineering techniques and advice on identifying suspicious emails can be found here.

The Consulting Services team at BSI provides an expansive range of solutions to help organizations address challenges in cybersecurity, information management and privacy, security awareness and compliance. For more information visit the BSI website.