Overview of Cyber Risks
Bart R. McDonough · 2018
This chapter takes a closer look at the details of the wire transfer scam. Bad actors use automated hacking software that scans data breach dumps for email addresses of people working in a specific industry, such as real estate. Once they collect a list of email addresses, they send phishing emails to obtain the victim's email account password fraudulently. Once they have the password and successfully gain access, they research and monitor real estate transactions in flux. The best protection method is to not trust email and to be extremely cautious when receiving emails requesting money. A cyberattack is when attackers carry out malicious attacks, such as social engineering against people with the primary objective of accessing, modifying, disclosing, or selling stolen information. Hacking can be a component of a cyberattack, which can lead to a data breach, but a cyberattack doesn't necessarily require hacking skills or computers at all.