Social engineering has been identified as one of the most frequently reported cyberattack intrusion tactics used by cybercriminals targeting the financial sector in Q1 2022. 

The Financial Services Quarterly Threat Landscape Q1 2022 assessment from ZeroFox outlined key changes to cyber threats facing the financial sector and illustrated specific threat categories of interest including social engineering, vulnerability exploitation, botnets, initial access brokers (IABs), malware, ransomware and blockchain threats. 

Social engineering was one of the most frequently reported intrusion tactics leveraged in Q1 2022, according to the report. Social engineering, a tactic that focuses on manipulating human users and those with access to organizational networks, has been leveraged in phone calls and phishing emails to compromise their targets, according to the report.

Social engineering attackers have used humanitarian crises, such as the Russian invasion of Ukraine, to target victims. The report identified malware strains including Medusa, Emotet, Agent Tesla and others distributed by social engineering.

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