We know there are a myriad of different types of cyber attacks that have evolved over the years. From ransomware to phishing, the list grows as hackers become more sophisticated.

Las Vegas' MGM Grand was hit with a major cyber attack in September that lasted several days affecting IT systems, hotel keys, casinos and other digitally-driven resouces, which, to say the least, threw a wrench into the experience of many of the visitors there during that period. 

One might wonder how an organization as large and prominent as the MGM grand could be hit with such a massive attack (which resulted in the loss of around $100 Million) and it almost always comes down to the attack vector. In the case of the MGM Grand, it was reported to have been an attack that originated through social engineering where an unassuming employees were duped into disclosed sensitve information that ultimately resulted in the onslaught of this widespread breach.

What is Social Engineering?

So what exactly is social engineering - the culprit behind this attack and many others.

Basically, social engineering is a method of manipulating, deceiving, or influencing individuals, for malicious purposes. This is done by exploiting their psychological or behavioral tendencies and vulnerbailities - as was the case with the MGM attack. 

It involves manipulating people into divulging confidential information, performing actions, or making decisions they typically wouldn't under normal circumstances.

Social engineering attacks can have various objectives, including gaining unauthorized access to systems or buildings, stealing sensitive data, committing fraud, spreading malware, or causing reputational damage. These attacks are particularly dangerous because they focus on exploiting human vulnerabilities, making them challenging to defend against solely with technical security measures. To mitigate the risks of social engineering, individuals and organizations should prioritize security awareness training, implement robust security policies and procedures, and encourage a culture of skepticism and verification when dealing with requests for sensitive information or actions.

Social Engineering is administered in various forms, including: 

1. Phishing: In phishing attacks, perpetrators send deceptive emails, messages, or websites that appear legitimate but are designed to trick individuals into revealing sensitive information like passwords, credit card numbers, or personal details.

2. Pretexting: Pretexting involves creating a fabricated scenario or pretext to obtain information or access to a system. For example, an attacker may pose as a trusted entity, such as an IT support technician, to request sensitive information from an employee.

3. Impersonation: Social engineers may impersonate a trusted individual, such as a coworker or executive, through phone calls, emails, or in-person interactions to manipulate their targets.

4. Quid Pro Quo: In these attacks, perpetrators promise a benefit, such as a service or software, in exchange for sensitive information or access to a system.

5. Reverse Social Engineering: Instead of the attacker initiating contact, the victim contacts the attacker, believing they are seeking help or assistance. The attacker then manipulates the victim to disclose information or take specific actions.

Why is Social Engineering so Detrimental?

Social Engineering has a detrimental impact for a number of reasons, including:

1. Financial Loss: Many social engineering attacks are financially motivated. Attackers may trick individuals or organizations into revealing sensitive financial information or making fraudulent transactions, resulting in substantial financial losses.

2. Reputation Damage: Victims of social engineering attacks may encounter reputational damage. For individuals, this may involve embarrassment or conflict in personal relationships. For businesses, it can lead to a loss of customer trust and a damaged brand image.

3. Loss of Control: Social engineering attacks can leave individuals and organizations feeling like they have lost control over their own information and security. This loss of control can be disempowering and demoralizing.

4. Cascade Effect: Once an attacker gains access to a system or network through social engineering, they can use it as a stepping stone for more advanced attacks. This can lead to a cascade effect where a single successful social engineering attack opens the door to more severe security breaches down the road.

To mitigate the risks of social engineering, individuals and organizations should prioritize security awareness training, implement robust security policies and procedures, and encourage a culture "zero trust" when dealing with requests for sensitive information or actions. If you'd like to learn more about how to arm your organization this and other cyber attacks, schedule a no-obligation consultation with us today.