In the digital landscape of today, e-signature software has become a useful tool for businesses and individuals to conveniently sign their documents remotely. While an e-signature platform can increase efficiency and reduce the paperwork for employees and organizations, it also can be exploited by scammers through cyberattacks. Amidst all the convenience and efficiency provided by these e-signature platforms, a crucial aspect of Security shouldn’t be sidelined.This is where digital signatures, the next generation of e-Signature technology, step into the spotlight. Think of them as e-signatures on steroids. They don't just replicate your ‘john henry’ digitally; they wrap your signature in layers of cryptographic security, ensuring the integrity and authenticity of your documents. It's like having a personal bodyguard for each signature you make.
Digital signatures are a more robust and reliable solution than E-signatures since they prioritize the integrity and authenticity of your documents. Let’s delve into how scammers and attackers send you phishing emails via E-signature platforms.
Now, let's pull back the curtain on a sinister trend that's been gaining traction: phishing attacks via e-signature platforms. Picture this: You receive an email that looks legitimate, asking you to sign an "important document." The sender's name is familiar, the logo looks right, and the urgency feels real. But here's the kicker - it's all a carefully crafted illusion.
These cyber-wolves in sheep's clothing are becoming increasingly sophisticated. They're not just after your signature; they're phishing for your credentials, your sensitive data, and potentially, your identity. It's a stark reminder that in the digital realm, all that glitters is not gold.
These attacks, especially the ones using e-signature software, have become increasingly common. One of the reasons could be related to the internet and digital devices which have a great impact on our ability to focus. Over the past couple of decades, people’s attention spans have shrunk dramatically and this is a good opportunity for attackers. They will send fake emails requesting an e-signature, fake text messages requesting your data, and fake social media posts asking you to not miss a deal and purchase your desired product online while handing them your financial information. People are so overwhelmed with the amount of data they’re receiving that they don’t check the small details which can prevent them from getting scammed.
With the rise of remote work due to COVID-19, more people are using e-signatures. This has created a new opportunity for scammers. They're sending phishing emails that look like they're from e-signature companies like DocuSign. These attacks aren't new – DocuSign has been a target for years – but they're becoming more common because so many people are familiar with e-signatures now. Scammers take advantage of this trust by creating fake emails that appear legitimate. A report by “eSentire Threat Intelligence” warns that “, while a compromised Facebook account can disrupt your personal life, stolen DocuSign or Dropbox credentials can be much more damaging for businesses” since a single compromised credential could grant access to a wider range of sensitive information.
Phishing continues to be one of the most common and successful social engineering schemes globally, with no sign of slowing down. Phishing tricks people into clicking malicious links to download malware or provide confidential information to criminals. The rise of web service impersonation attacks, a type of phishing attack using a recognized brand, involves fake websites and emails that prompt people to login and unknowingly give up their credentials to criminals. With the stolen credentials, hackers can then login to other services. Because people have a habit of reusing the same login credentials across many online accounts, bad actors can run an automated program to test credentials against any number of web services and when successful, use them to impersonate the victim and steal funds or information.
According to “OneSpan”, “DocuSign’s business model relies on a DocuSign branding push using e-signature notification emails that puts its customers and their end-customers at risk of malicious attacks such as reported phishing scams.” Therefore, when it comes to choosing a signing solution, it would become of great importance to choose a solution that allows you to white-label your customer’s signing experience and always put your company’s brand in front and center.
How to protect yourself from getting scammed
In future blogs, we will discuss the factors to consider when selecting an electronic signature solution to reduce your vulnerability to phishing attacks.
Stay tuned.