There was a Nigerian youth before Elizabeth Holmes or the Fire Festival. For decades, this digital hustler crested the spam filters to give you a once-in-a-lifetime opportunity: Dear Dear, wrote, I am the King coming to you with an incredible investment opportunity.
Mr. Sir, he says, do you know that you have millions of dollars that no one has claimed in your Western Union account? I can help you get out of it. All he needs is a cash advance or bank account number to complete the electronic transfer. Then, this unexpected fate for you.
Most people know this: scandal. Also known as fraud in 1, the Nigerian king represents various forms of deception of centuries-old Spanish prisoners, a prepaid fraud was published after the French Revolution, where people wrote handwritten letters asking for help from elders (not present).
After being closely linked to the Internet for the first time, the Nigerian Emperor first started worldwide, in the decade when West African fraudsters began sending scandalous emails around the world.
Today, it seems like more of a threat than a real threat, but the Nigerian prince is still getting paid: In 2018, contributions from Americans alone came with over 700,000 contributions.
But scammers use foundational psychology to trick 419 into more fancy and dangerous ways. “We were all accustomed to ridicule [the Nigerian prince] 3 or 20 years ago,” said Armin Nazarian, Agra’s chief identity officer.
However, “this Nigerian prince grew up, went to college, learned two things and got a new lucrative career.” Looks like a simple, isolated fragrance that turned into a trillion-dollar threat.
419FlimFlame is one of the most well-known examples of social engineering, and is a set of techniques that fraudsters use to manipulate their goals to exchange personal or confidential information and activate further attacks.
Jacob Dorval, global director of SecureWorks’ Opposition Group, has led a team of policy hackers who simulate attacks to find vulnerable sites in client protection protocols.
He said most social engineering attacks start with a form of phishing – email, phone calls, or even personal communication with a trusted trusted source who is really looking for your personal data.
An intruder can create a false public health alert and spread the deceptive page to the employees of a target organization.
It may duplicate your HR page and say, you must be logged in to see suggestions.
Or it just says a link that click here.
Instead of asking for money like the Nigerian youth, scammers now look for personal information.
Currently, the FBI deals with business emails, or BEC settlements, which include targeting individuals who have access to their company’s financial infrastructure and tracking down money transfers to scammers.
One form of this is called “CEO fraud,” where the fraudster creates a CEO’s disguise and asks to transfer the bill immediately.
Following a subordinate order, he inadvertently transferred the money to the fraudsters.
(Some go even further: Between 20-24, copying calls to French Defense Minister Jan-Yves Le Drian who put up $ 90 million)
A similar strategy, called Vendor Email Leveling or VEC, is on the rise, as Agari predicts this will be the first attack by 2020.
In a simple scenario, the fraudster will create an invoice that is identical to the original seller, excluding bank account information. When the company pays the payment, it ends up in a scammer’s account again.
In the past, these negatives were a number game. The more people targeted by the enemy, the more likely they are to find prey. This is still true, but today’s attacks are more sophisticated.
“There was nothing detailed about that.” Now, fraudsters are very private, and even very careful or suspicious employees are at risk. “It takes things a bit wrong,” says Dorval.
The term “cybersecurity” can spread global pirate episodes equipped with sophisticated machines, as shown in many movies.
However fraud does not have to be high technology to succeed, as social engineering largely outweighs human weakness.