What is social engineering?

Binance Academy · 2023-03-10T01:44:35.000Z

In a broader sense, any type of manipulation linked to behavioral psychology can be considered social engineering. However, the concept is not always related to criminal or fraudulent activities. In fact, social engineering is being widely used and studied in a variety of contexts, in fields such as social sciences, psychology and marketing. When it comes to cybersecurity, social engineering is done with ulterior motives and refers to a set of malicious activities that attempt to manipulate people into making bad moves, such as handing over personal or sensitive information that can then be used against them or against your company. Identity fraud is a common consequence of these types of attacks and in many cases leads to significant financial losses.