The most important line of defense, in addition to business insurance coverage, is to educate employees about these threats and put in place protocols that help prevent social engineering attacks. (Photo: Shutterstock)

We’re all human; we make mistakes. But there are plenty of people out there trying to take advantage of a simple mistake that could cost a business millions of dollars.

Social engineering is the act of taking advantage of human behavior — or that one little mistake — to steal confidential information. It’s a scam that has been around for decades but it’s become a bigger problem thanks to the internet and the rise of various forms of electronic communication. In fact, 60 percent of businesses fell victim to a social engineering attack in 2016.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.