Outcomes of Social Engineering: Understanding Cybercriminals’ Exploitation of Human Psychology

Outcomes of Social Engineering: Understanding Cybercriminals' Exploitation of Human Psychology

Dr. Kiran Kumar M, Shruthi M, Sathwick N, Prathap S

Assistant Professor, MBA Student- Finance, MBA Student- Finance, MBA Student- Finance

Kiranm287@gmail.com, shruthi_m23@cms.ac.in, sathwick_n23@cms.ac.in, prathap_s23@cms.ac.in

Faculty of Management Studies, CMS B School, Jain (Deemed-to-be university), Bangalore.

ABSTRACT

This study explores the growing threat of social engineering attacks in India, examining how cybercriminals exploit human psychology to gain unauthorized access to sensitive information and systems. Analyzing data on compromised accounts, financial losses, and cybersecurity training adoption from 2014 to 2024, the research uncovers alarming trends - a steady rise in compromised accounts, strong correlations between account compromises and financial impacts, and a reactive, yet insufficient, response from organizations through increased training programs. The findings highlight the urgent need for a multi-faceted approach that combines technological safeguards with robust employee awareness initiatives to mitigate the human vulnerabilities exploited by social engineering tactics. Implications for policymakers, businesses, and individuals in India emphasize the critical importance of proactive cybersecurity measures to address this evolving threat landscape.

Keywords:

Social engineering, Cybercrime, Compromised accounts, Financial losses, Cybersecurity training, Human vulnerabilities