The increasing prevalence of social engineering scams has emerged as a critical challenge for individuals and businesses alike. According to the FraudSMART Social Engineering Survey conducted in Ireland, nearly 78% of adults encounter suspicious content or activity monthly, with 45% reporting a rise in such activity compared to last year. These statistics underscore the urgent need for enhanced, protective measures against fraudulent schemes.
Text messages and mobile calls are the most common channels for suspicious communications, with 6 in 10 adults reporting frequent exposure. These scams often rely on tactics like impersonation, urgency and emotional manipulation to deceive individuals into sharing sensitive information or making unauthorised payments. The survey reveals that not recognising the sender or number and receiving unexpected messages are the most common indicators of suspicious activity. Expleo, one of Sedicii’s partners, has implemented an anti-smishing application with another Sedicii partner, PTSB Bank to protect their customers from fraudulent attempts to trigger payments to illicit actors via SMS.
Current Responses to Scams
While the majority of respondents take some action to protect themselves, gaps in prevention remain. For instance, 58% of individuals block suspicious numbers, but a significant 42% do not actively do so. Similarly, over half ignore unsolicited emails and refrain from opening unexpected attachments, yet many still fall victim to email-based scams due to lax vigilance.
The survey highlights the need for consistent adoption of preventive measures. Actions like independently verifying the legitimacy of messages, avoiding unsolicited links and using secure internet connections can significantly reduce vulnerabilities. However, only a small portion of respondents regularly employ such strategies, leaving a substantial segment of the population exposed to risk.
Looking Ahead: The Role of Awareness and Technology
The findings of the FraudSMART survey emphasise the importance of awareness and education in mitigating scam risks. Public campaigns, like those initiated by FraudSMART, play a vital role in equipping individuals with the knowledge to recognise and respond to suspicious activity. The dramatic surge in AI use is only increasing the prevalence of these fraud attempts. The solution to it is a multi-pronged approach to be able to verify various data points with authorities for that data. e.g. verifying payee account information with the banks, phone numbers with the Telco’s, address information with utilities and identity information with the government.
However, technology also has a critical role to play. Solutions like Sedicii’s PET-based tools not only address the immediate challenges of identity fraud but also lay the foundation for a more secure digital ecosystem. As scams become increasingly sophisticated, leveraging advanced cryptographic methods and real-time data validation are essential for staying one step ahead of cybercriminals.
By combining awareness initiatives with cutting-edge technology, we can reduce the impact of social engineering scams and build a safer digital environment for all. Contact Sedicii to learn more about how our solutions can protect your organisation from the growing threat of fraud.
This article is part of Sedicii’s ongoing thought leadership in support of Project PHACKS, an initiative focused on building collaborative communities to address complex cybersecurity and data privacy challenges. PHACKS is funded by the European Union and brings together organisations to explore new approaches to secure data collaboration utilising privacy enhancing technologies. Through this work, Sedicii contributes its expertise in advanced cryptography, secure data collaboration and digital identity to promote safer, more transparent digital ecosystems across Europe. The views expressed herein reflect the author’s perspective and do not necessarily represent those of the European Union. Learn more about Project PHACKS.