In today’s world everything is stored online. Bank account information and social security numbers address are examples of information that is stored in a database. Having that information online can make any company or person become a victim of a social engineering attack. With more people becoming tech savvy, social engineering is on the rise. Social engineering is a term used to define the malicious attacks performed through human interaction through technology and in person. My research findings will indicate the financial and psychological stress that a social engineering attack can have on a person or company. By researching the financial and psychological effects of social engineering, it will bring awareness to why it is important to know how to avoid the attack and what actions to take if someone becomes a victim. Further, the research reflects how social engineering has increased over the years. Social engineering attacks pose a high and critical threat to the world of cybersecurity. This research aims to distinguish the cause and effect of social engineering attacks, their techniques, and the financial and psychological measures that reflect on cybersecurity. In reference to the psychological and financial threats to humans, attackers can impose social engineering tactics which can leave the person with great stress and financial turmoil. To create more substantial methods and security measures to combat the ongoing threats, we have to recognize the threat of social engineering attacks. This research serves as an in-depth understanding of social engineering attacks and the impact it has on the world of cybersecurity and both psychological and financial risk amongst humans.