Fraud techniques in the context of cybersecurity refer to various methods used by malicious actors to deceive individuals or organizations into divulging sensitive information, gaining unauthorized access, or committing financial crimes. These techniques often exploit human psychology (social engineering), weak security practices, and vulnerabilities in systems.

Here’s an overview of common fraud techniques used in cybersecurity:

1. Phishing

Phishing is one of the most common types of fraud. It involves sending fraudulent emails or messages that appear to come from a trusted source, like a bank, government, or well-known company. These emails usually contain a call to action (e.g., “Click this link to verify your account”) to trick the recipient into sharing sensitive information such as usernames, passwords, credit card numbers, or other personal data.

• Spear Phishing: A more targeted form of phishing, where attackers customize their emails to a specific individual or organization.
• Whaling: A type of spear-phishing that targets high-profile individuals like executives or government officials.

2. Vishing (Voice Phishing)

Vishing involves using phone calls instead of emails to trick victims into revealing personal or financial information. Fraudsters may pose as representatives from banks, government agencies, or tech support, urging individuals to share account numbers, Social Security numbers, or payment details.

• Example: An attacker calls and claims to be from a bank, saying there's a problem with the account and requesting the victim’s login credentials or payment information.

3. Smishing (SMS Phishing)

Smishing is similar to phishing but occurs via text messages (SMS). Fraudsters send malicious SMS messages that appear to come from legitimate sources, asking recipients to click a link or provide confidential information.

• Example: A fake message from a bank claiming the recipient’s account has been locked and directing them to a malicious website to "unlock" it.

4. Social Engineering

Social engineering involves manipulating people into divulging confidential information by exploiting human psychology. This technique is often used alongside other fraud tactics like phishing or vishing.

• Pretexting: The attacker fabricates a story to obtain information from the victim. For example, they might claim to be conducting a survey or asking for verification purposes.
• Baiting: Fraudsters entice victims with something desirable (e.g., free software, prizes) to gain access to their personal data or systems.
• Tailgating: In physical security, this involves gaining unauthorized access to a building by following someone through a secure door or entrance.

5. Identity Theft

Identity theft involves fraudsters obtaining and using someone else's personal information (such as Social Security numbers, bank account numbers, or credit card details) without their permission, often for financial gain.