Social Engineering

The Digital Operational Resilience Act (DORA) and the TIBER-EU framework work hand in hand to strengthen the cybersecurity and resilience of financial institutions in the EU—DORA sets the regulatory foundation, while TIBER-EU enables realistic, threat-led testing. Together, they promote a proactive approach to identifying and mitigating cyber risks. We spoke with two of our TIBER-experienced experts to explore what makes these tests unique, the challenges they pose, and why elements like social engineering and physical security are key factors.

It is estimated that companies worldwide suffer billions worth of damages each year due to social engineering attacks. In response to the significant advancements made by companies in strengthening their technical defenses against cyberattacks in recent years, attackers are seeking new methods to gain unauthorized access to networks and obtain data. In essence, this is not a new phenomenon, but rather a shift back to the traditional methods used by attackers.