BUDOL! The word means “getting scammed,” but has recently taken a new spin to mean a buying spree or getting a really good deal. ‘Budol’ also defines the ease of online shopping, which has become a breeding ground for elaborate scams targeting unsuspecting consumers. Christmas is the perfect petri dish for scams as festive distractions create an ideal environment for cybercriminals to deploy social engineering tactics.
Different cybersecurity experts say there is a notable increase in social engineering attacks, as cybercriminals exploit the heightened online activity and consumer eagerness for holiday deals. This period sees a surge in phishing scams, fraudulent e-commerce sites, and other deceptive tactics aimed at stealing personal information and financial data.
A study by Infoblox revealed that 62 percent of retailers in the UK and Germany bolster their cybersecurity measures during the holiday season due to a rise in social engineering attacks. In the U.S., 35 percent of stores reported an uptick in such attacks during this period. Similar attacks coincide with Black Friday and Cyber Monday events. This spike in online activity was accompanied by a significant rise in phishing, malware, and scam campaigns targeting consumers.
McAfee reported that in the six weeks leading up to mid-November last year, consumers attempted to access over 624,000 suspicious or malicious websites associated with well-known brands. Approximately 12.5 percent of these were fraudulent e-commerce sites selling Apple products, often mimicking official brand pages and offering steep discounts to lure shoppers.
Common denominator to these reports? Social engineering.
Social engineering is widely regarded as a more effective approach than directly infiltrating protected networks or individual computers, largely because it capitalizes on human psychology rather than technical vulnerabilities. This tactic bypasses even the most sophisticated cybersecurity systems by targeting the inherent unpredictability of human behavior, which is often seen as the weakest link in security.
Unlike software and networks that can be fortified with firewalls, encryption, and intrusion detection systems, humans remain susceptible to manipulation. Social engineers exploit trust, fear, or curiosity to achieve their objectives. This method circumvents advanced technical defenses, requiring minimal resources while delivering potentially significant results. For instance, crafting a convincing phishing email or impersonating a trusted colleague can provide attackers with access to sensitive information without the need for complex hacking techniques.
Social engineering attacks are also scalable and versatile. Techniques like phishing can target thousands of individuals simultaneously, increasing the likelihood of success. Meanwhile, more focused strategies such as spear phishing or baiting can be customized to deceive specific high-value targets. These approaches exploit the natural human inclination to trust, often leading employees or individuals to unwittingly grant access to critical systems or share confidential information.
A lack of awareness and training further amplifies the effectiveness of social engineering. Many organizations and individuals are ill-equipped to recognize and respond to such attacks. Even those who are trained can occasionally fall victim to well-crafted schemes, especially those that leverage urgency or fear to prompt immediate action.
The success of social engineering is evident in tactics such as phishing and spear phishing, which frequently result in the theft of credentials, providing attackers with unauthorized access to systems. Similarly, baiting—with a malware-infected USB drive for example—can lead to immediate network infiltration. Pretexting, where attackers impersonate trusted figures like vendors or IT personnel, is another example of how social engineers deceive their victims to gain access or gather sensitive information.
While social engineering is often easier and more cost-effective than traditional hacking methods, it does not entirely replace technical attacks. Advanced Persistent Threats (APTs) and state-sponsored actors frequently combine social engineering with technical exploits to maximize their chances of success. Nevertheless, social engineering remains a preferred initial strategy due to its high success rate and the potential to open pathways for further exploitation.
