Social engineering, also known as social manipulation, has turned out to be fraudsters’ super weapon. Today, it is used in practically all sophisticated fraud attacks. Fraudsters play on human emotions and use technical tools to trick victims into believing that they are interacting with credible sources. By understanding both the emotional and technological aspects of these scam methods, businesses and individuals can better protect themselves against these threats.
Social engineering exploits basic human feelings such as trust, fear, and the desire to help others to manipulate victims into performing certain actions or revealing confidential information. For example transferring money or disclosing passwords or other sensitive data. The fraudsters’ use of technological tools to reinforce their credibility makes them particularly dangerous.