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Recently, Europol detained 54 people in connection with fraud involving voice phishing (vishing), which was accompanied by social engineering tactics and physical threats.
Fraudsters posed as bank employees, called senior citizens of Spain and received their personal information. Their accomplices then visited the victims in person, demanding cash, credit cards, and jewelry. As a result of the activities of criminals, a total damage of $ 2.7 million was caused.
Abu Qureshi, Head of Threat Analysis at BforeAI, noted that the uniqueness of this fraudulent activity lies in the combination of digital and physical methods. Fraud is usually limited to stealing digital assets, such as passwords or credit card details. In this case, the perpetrators have moved to a new level, personally visiting victims and deceiving them to get what they want.
Physical methods of social engineering enhance the effectiveness of vishing attacks by adding an element of personal interaction that increases trust and reduces the skepticism of victims. Criminals create a sense of urgency and use the credibility of official representatives, which allows them to manipulate their targets more effectively.
Stephen Kowsky, director of email security Technology at SlashNext, highlighted the scale and complexity of the operation, which resulted in multiple arrests in different countries and significant financial losses. Using call centers and imitating bank employees demonstrates how vishing tactics have evolved, becoming more convincing and targeted.
Kovski added that the old methods of vishing are gaining popularity again, as they exploit human psychology and trust, which is difficult to prevent by technical means. As email security has improved, attackers have moved to voice channels, where victims can be less vigilant.
The massive shift of people to remote work has also created new opportunities for vishing scammers. Financial losses, data leaks, and compromising customer information are the main threats that can also damage the company's reputation and undermine customer trust. Companies may face regulatory penalties and legal consequences for falling under a social engineering attack.
Kovski recommends that organizations conduct regular security awareness training, including realistic vishing simulations. In addition, the introduction of advanced technologies to detect voice threats and automatically filter calls can also help protect vulnerable users. It is also very important to create a culture in which employees can safely report suspicious calls to management, without fear of responsibility for potentially incorrect actions on their part.
• Source: https://www.europol.europa.eu/media...st-action-against-54-spanish-phone-fraudsters
Fraudsters posed as bank employees, called senior citizens of Spain and received their personal information. Their accomplices then visited the victims in person, demanding cash, credit cards, and jewelry. As a result of the activities of criminals, a total damage of $ 2.7 million was caused.
Abu Qureshi, Head of Threat Analysis at BforeAI, noted that the uniqueness of this fraudulent activity lies in the combination of digital and physical methods. Fraud is usually limited to stealing digital assets, such as passwords or credit card details. In this case, the perpetrators have moved to a new level, personally visiting victims and deceiving them to get what they want.
Physical methods of social engineering enhance the effectiveness of vishing attacks by adding an element of personal interaction that increases trust and reduces the skepticism of victims. Criminals create a sense of urgency and use the credibility of official representatives, which allows them to manipulate their targets more effectively.
Stephen Kowsky, director of email security Technology at SlashNext, highlighted the scale and complexity of the operation, which resulted in multiple arrests in different countries and significant financial losses. Using call centers and imitating bank employees demonstrates how vishing tactics have evolved, becoming more convincing and targeted.
Kovski added that the old methods of vishing are gaining popularity again, as they exploit human psychology and trust, which is difficult to prevent by technical means. As email security has improved, attackers have moved to voice channels, where victims can be less vigilant.
The massive shift of people to remote work has also created new opportunities for vishing scammers. Financial losses, data leaks, and compromising customer information are the main threats that can also damage the company's reputation and undermine customer trust. Companies may face regulatory penalties and legal consequences for falling under a social engineering attack.
Kovski recommends that organizations conduct regular security awareness training, including realistic vishing simulations. In addition, the introduction of advanced technologies to detect voice threats and automatically filter calls can also help protect vulnerable users. It is also very important to create a culture in which employees can safely report suspicious calls to management, without fear of responsibility for potentially incorrect actions on their part.
• Source: https://www.europol.europa.eu/media...st-action-against-54-spanish-phone-fraudsters
