Introduction

With the rise of hybrid (remote and on-site) work and the increasing use of technology in our daily lives, the risk of falling victim to cyberattacks has never been higher. Multichannel phishing attacks and social engineering are two of the most common tactics used by cybercriminals to obtain sensitive information, steal identities, and perpetrate financial fraud. They are often well-planned and designed to deliver online attacks commonly known as payloads through the use of multiple communication channels, such as email, social media and phone calls, to trick victims into providing sensitive information.

Social engineering a.k.a human hacking, is the use of psychological manipulation to trick people into divulging sensitive information or taking actions that they otherwise wouldn't. When combined, these two tactics can create a potent form of attack that can be difficult for victims to detect and are highly convincing.

It's crucial to mitigate against these attacks to prevent potential data breaches, financial losses, and reputational damage. By raising awareness and implementing best practices, individuals, businesses and organizations can take steps to protect themselves and their sensitive information from these types of attacks. In this blog, we will look at what these two attacks are (multichannel phishing and social engineering); tactics and techniques used to implement them, and strategies for mitigation.

Multichannel Phishing Attacks and Social Engineering

Multichannel Phishing Attacks - What it is

Multichannel phishing attacks involve the use of multiple communication channels, such as email, social media, and phone calls, to trick victims into giving up sensitive information or downloading malware. These attacks are particularly dangerous because they can be difficult for victims to detect and can be highly convincing.

Tactics and Techniques of Multichannel Phishing Attacks

The tactics, techniques and procedures include:

1. Creating a sense of urgency or fear in the victim

This is a common tactic used in multichannel phishing attacks. For example, an attacker may send an email that appears to be from a legitimate company, such as a bank, and claim that there has been suspicious activity on the victim's account. The email may instruct the victim to click on a link and log in to their account to resolve the issue, but the link actually leads to a fake website that steals the victim's login credentials.

To make the attack more convincing, the attacker may follow up the email with a phone call, posing as a representative from the same company and claiming that there is an urgent need to resolve the issue. The attacker may use social engineering techniques to create a sense of trust with the victim, such as pretending to be a helpful customer service representative.

2. Creating a Sense of Legitimacy

This is another tactic used in multichannel phishing attacks. The attacker creates a fake social media profile that appears to belong to a legitimate company or person and use it to send messages to the victim. The messages may contain links to fake websites or malware that the victim is tricked into downloading.

Multichannel phishing attacks can also involve the use of SMS messages, which are becoming an increasingly popular target for phishing attacks. An attacker may send an SMS message that appears to be from a legitimate company, such as a bank, and instruct the victim to call a phone number to resolve an urgent issue with their account. The phone number leads to a fake customer service representative who attempts to steal the victim's login credentials or other sensitive information.

This attack often leads to the compromise of sensitive information causing devasting and potentially long-lasting consequences to victims, businesses and organizations.

Social Engineering - What it is

Social engineering is a tactic used by cybercriminals to manipulate individuals into divulging sensitive information or taking actions that can be harmful. It involves the use of psychological tactics to trick people into divulging sensitive information or performing actions that they wouldn't typically do. Some examples of social engineering include:

· Phishing scams

This involves sending fraudulent emails that appear to be from a trustworthy source, such as a bank or credit card company, to trick recipients into providing sensitive information.

· Pretexting

This involves creating a false scenario to obtain information, such as pretending to be a customer service representative.

· Baiting

This involves leaving a tempting item, such as a flash drive or a laptop, in a public place, hoping someone will pick it up and use it, allowing the attacker to gain access to the victim's information.

· Spear Phishing

Attackers may impersonate someone in a position of authority, such as a CEO or government official, to gain the victim's trust.

Psychology of Social engineering

Social engineering works by exploiting psychological principles, such as through:

· Reciprocity

This refers to the idea that people are more likely to comply with a request if they feel they owe the requester something in return.

· Authority

It involves taking advantage of the trust people have in those in positions of power or expertise.

· Social proof:

This refers to the idea that people are more likely to comply with a request if they believe others have already done so.

How Multichannel Phishing Attacks and Social Engineering Work Together

Multichannel phishing attacks and social engineering often work together to create a more sophisticated and very effective attack. Some examples of how this happens involve:

· Building Trust

This is a common tactic used in social engineering to create a sense of trust with the victim. Attackers impersonate someone the victim knows, such as a coworker, a friend, or a family member, to gain their trust. They also use tactics such as providing accurate information about the victim or the victim's company to make the victim believe they are legitimate.

In a multichannel phishing attack, the attacker uses this tactic in each communication channel to increase the likelihood of success. For example, they can send an email that appears to be from a coworker, followed by a phone call pretending to be an IT support representative, and then a social media message pretending to be a customer service representative.

· Compelling a Sense of Urgency

A very effective and common tactic often used by attackers is to compel or convince the victim to act urgently or out of fear to take immediate action. They may threaten to close an account, cancel a service, or even harm the victim or their family.

In a multichannel phishing attack, the attacker also uses this tactic in each communication channel to make the victim feel like they need to take action immediately. For example, they send an email claiming that the victim's account has been compromised, followed by a phone call threatening to suspend the account, and then a social media message claiming that urgent action is required to prevent further damage.

· Impersonating Authority Figures

The impersonation of someone in a position of authority to gain the victim's trust is another common tactic used by attackers. It involves posing to be a CEO, a government official, or a law enforcement officer to convince the victim to comply with their requests.

In a multichannel phishing attack, the attacker uses communication channels that the victim is subscribed to create a sense of legitimacy and authority. For example, they can send an email claiming to be from a high-ranking executive, followed by a phone call pretending to be a government official, and then a social media message claiming to be from a respected industry expert.

· Exploiting emotions

Attackers may use emotional triggers to manipulate the victim into clicking on a link or opening an attachment. For example, they may use fear by claiming that the victim's computer is infected with a virus or malware, or use curiosity by offering a fake reward or discount.

Why Mitigate Against Multichannel Phishing Attacks and Social Engineering

Multichannel phishing attacks and social engineering pose significant risks to individuals and businesses alike. By exploiting human weaknesses, attackers can steal sensitive data, compromise accounts, and cause financial losses. Some of the risks associated with these attacks include:

· Data theft

Multichannel phishing attacks and social engineering can result in the theft of sensitive information such as login credentials, personal information, and financial data. Attackers can use this information for identity theft, fraud, or to launch further attacks.

· Financial losses

Phishing attacks can lead to significant financial losses for individuals and businesses. Attackers can use stolen login credentials to transfer funds, make fraudulent purchases, or initiate wire transfers.

· Reputational damage

Successful phishing attacks can damage an individual or business' reputation. This can result in a loss of trust from customers, partners, and stakeholders.

· Legal consequences

Depending on the severity of the attack, individuals and businesses may face legal consequences for failing to protect sensitive data or for falling victim to a phishing attack.

Strategies for Mitigating Against Multichannel Phishing Attacks and Social Engineering

To protect against these attacks, individuals, businesses and organizations should:

· Implement security awareness training

Regular training should be provided to employees and customers on how to spot phishing attacks and avoid falling victim to social engineering tactics.

· Use strong passwords and multi-factor authentication

Businesses, organizations and individuals should use strong passwords and multi-factor authentication to protect against stolen login credentials.

· Use security software

Organizations, businesses and individuals should enforce the use of security software such as firewalls, antivirus software, and spam filters to help detect and prevent phishing attacks.

· Verify all requests for sensitive information

Individuals, businesses and organizations should verify all requests for sensitive information, especially if they come from an unknown source.

Conclusion

Mitigating against multichannel phishing attacks and social engineering is critical for individuals, businesses and organizations to protect themselves against the various risks associated with cybercrime, including data theft and financial losses. The risks associated with these attacks cannot be ignored, and it is important to prevent them from happening. This includes implementing strong security protocols, keeping up to date on security best practices, staying informed and vigilant on the latest threats.

Ultimately, a comprehensive and proactive approach is required to stay ahead of these threats, keep protected and cyber aware of the risks multichannel phishing attacks and social engineering pose in the current social media, communication and digital technology platforms. By taking these steps, organizations, businesses and individuals can reduce their risk of falling victim to these types of cyberattacks and safeguard their valuable data and assets.