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Social engineering scams, one of the oldest tricks in the financial fraud book, still threaten financial institutions and other businesses through malware, ransomware and email attacks, per San Mateo, Calif.-based Agari.

Some 60% of more than 200 U.S. security leaders surveyed, by Agari and Information Security Media Group, know they either were or might have been social engineering victims during the past year, and 94% recognize social engineering, including spear phishing, as a significant business threat. In addition, 65% of those attacks involved employees’ login credentials, and 17% concerned financial accounts.

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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