Hacking the human mind: The rise of social engineering security threat

Summary

In this session of 'Big Data in AI Toronto,' hosts discuss the alarming rise of social engineering attacks, a prevalent cybersecurity threat. They delve into the impact of the COVID-19 pandemic on cybercrime, highlighting a temporary decrease due to heightened organizational vigilance. The conversation covers various social engineering tactics, including phishing, spear phishing, and smishing, emphasizing the importance of public awareness to safeguard against such threats. The hosts also underscore the role of AI in detecting and combating these attacks, while urging individuals to be vigilant about their online activities and to educate themselves on privacy and cybersecurity.

Takeaways

• 😀 Social engineering attacks have increased during the COVID-19 pandemic, as traditional hacking became more difficult due to heightened security measures.
• 🔐 Social engineering is the manipulation of people to give up confidential information, such as passwords or financial details, through deceit.
• 📧 Phishing is a common form of social engineering attack that can appear as emails from trusted sources, aiming to trick recipients into providing sensitive information.
• 🎯 Spearfishing is a targeted form of phishing where attackers use specific information about an individual to make the attack seem more legitimate and urgent.
• 📞 Vishing, or voice phishing, uses phone calls to deceive individuals, often impersonating authorities or institutions to extract information.
• 📱 Smishing is the practice of sending text messages to trick recipients into revealing personal information, often using urgent or emotional appeals.
• 💻 Mining social media involves collecting personal information from social profiles to create a false sense of familiarity and trust.
• 🕵️‍♂️ Man-in-the-middle attacks intercept communications between two parties to steal information, often occurring on public Wi-Fi networks.
• 💡 Awareness and education are crucial in defending against social engineering attacks, as they help individuals recognize and avoid falling for such scams.
• 🛡️ AI can assist in detecting various forms of social engineering, including deepfake videos, phishing emails, and malware downloads, by analyzing patterns and anomalies.
• 📚 Resources such as books and documentaries can provide valuable insights into the nature of social engineering and how to protect against it.

Q & A

What is the main topic of discussion in the 'Big Data in AI Toronto' session?

The main topic of discussion is 'Hacking the Human Mind: The Rise of Social Engineering Security Threat'.

Who is Mr. Jim Peggy AMSAS and what is his background?

Mr. Jim Peggy AMSAS is an author, writer, podcaster, and business partner of the speaker for the past five years. His work was initially in digital marketing and social media, but he has since become involved in AI and cybersecurity.

What was the unexpected trend in cyber attacks during the early months of 2020?

The unexpected trend was that cyber attacks and data breaches became less frequent during the early months of 2020, possibly due to organizations being on high alert for signs of cyber attacks.

What is social engineering and how does it relate to cybersecurity threats?

Social engineering is the art of manipulating people to give up confidential information about themselves. It is a cybersecurity threat because it targets individuals to trick them into revealing sensitive information like passwords or bank details.

What are some examples of social engineering attacks mentioned in the script?

Examples include phishing emails, spear phishing, vishing (voice phishing), smishing (SMS phishing), mining social media for information, and man-in-the-middle attacks.

Why did the number of security incidents in the finance sector increase by 300 percent in 2014?

The increase was likely due to the rise of social engineering attacks targeting employees in the financial services sector, who have access to sensitive financial data.

What is the average cost to companies for each social engineering attack incident?

The average cost to companies for each social engineering attack incident is more than $25,000.

Why do only a quarter of companies have ongoing training to prevent social engineering attacks?

The script does not provide a specific reason, but it implies that companies may not be allocating enough budget or prioritizing employee training to prevent these attacks.

How can AI help in detecting and preventing social engineering attacks?

AI can help by detecting deep fake videos, fake reviews, back doors, man-in-the-middle attacks, malware downloads, and phishing and spearphishing emails.

What is the importance of creating strong passwords according to the script?

Creating strong passwords is important to protect personal accounts from being hacked. It is recommended to avoid common passwords and to use a password manager to store complex passwords.

What are some of the signs that an email or message might be a social engineering attack?

Signs include requests for personal information, urgent action, secrecy, and approaching from a position of authority or offering something of value.