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48% of Companies Faced Social Engineering Attacks Claims Survey

Social engineering attacks are on the rise and large companies are incurring huge losses due to them, a new report has revealed.

According to a report commissioned by Check Point Software Technologies, 48 percent of large companies have been targeted with more than 25 successful social engineering attacks in the past two years.

The report, which surveyed 850 IT and security professionals with companies in North America, Europe, Australia, and New Zealand, also revealed that for each social engineering attack, companies incurred losses between $25,000 and $100,000.

Check Point, which commissioned Dimensional Research to conduct the survey, said that 86 percent of the respondents believed that social engineering attacks were an emerging threat.

“The security risks nowadays are not just the traditional hard security risks. Social engineering attacks are now targeting the weak people within the organisation, and this is a problem that is not high enough on corporate security agendas as we would like it to be.” said Check Point’s UK managing director Terry Greer-King.

“Employees are a critical part of the security process as they can be misled by criminals or make errors that lead to malware infections or unintentional data loss,” he added.

Ravi Mandalla was ITProPortal's Sub Editor (and a contributing writer) for two years from 2011. Based in Ahmedabad, India, Ravi is now the owner and founder of Parity Media Pvt. Ltd., a news and media company, which specializes in online publishing, technology news and analysis, reviews, web site traffic growth, web site UI. Ravi lists his specialist subjects as: Enterprise, IT, Technology, Gadgets, Business, High Net Worth Individuals, Online Publishing, Advertising, Marketing, Social Media, News, Reviews, Audio, Video, and Multi-Media. He has also previously worked as Dy. Manager - IT Security at (n)Code Solutions.