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Be on Alert for Social Engineering

08/29/2018

We have seen an uptick in attempted social engineering attacks. Social engineering is a form of hacking where a fraudster manipulates their victim into taking specific actions like sending wire transfers or giving out confidential or personal information while posing as a trustworthy source.

These scams can be initiated on social media, in email, over the phone, or in person. Social engineering attacks are built to look legitimate making them difficult to detect, so it is important to be diligent when dealing with your sensitive information.

A popular example of social engineering is a fraudster calling an individual’s home posing as a computer technician. The fraudster will claim the individual’s computer is in need of a cleanup, perhaps due to a virus. Once this clean up service is said to be complete, the fraudster will request information, like an account and routing number, for payment. If the individual refuses to supply this information, the fraudster usually counteracts the refusal with threats and scare tactics in attempt to collect payment.

Proceed with caution when supplying your account information to anyone. If you are ever uncertain if a call or email you receive is legitimate, reach out to the source directly by looking up their contact information from the company website or another reliable source. Do not use the contact information supplied to you in the suspicious call or email.

If you believe you have fallen victim to a social engineering scheme, contact your bank immediately, as well as any other institution where you may be compromised.

Businessman uses his computer.