As humans, it’s in our nature to want to trust other people. Social engineering takes advantage of this trust by using psychological tricks to get people to share private or sensitive information.
This method can be used to get different kinds of information. But when cybercriminals target you, they usually trick you into giving them private information like your bank account information, passwords, or information that can help them get into your computer or network.
Once they have access to your network in particular, they will be able to install programs that give them full control over your devices. The hacker could then read your emails, look at your business’s financial records, steal the identities of your employees, or do anything else they could think of.
Identity theft is a big problem because it could lead to a case of fraud against your business. And identity theft isn’t the only thing you need to worry about. Hackers could pretend to be people you trust, like a company executive, and send you fake bills or start an emergency EFT payment. If you don’t notice, your business could lose a lot of money and trust if you don’t fix the problem.