PHISHING ATTACKS

PHISHING ATTACKS

 Phishing scams are one of the most commonly faced threats by people and organizations. You must know more about them to protect your confidential information. Phishing attacks are usually carried out in the form of an email, text, social media sites, pop-ups, or websites built to imitate a real individual, system, or company. Attackers create phishing messages to generate a feeling of tension or panic with the ultimate aim of stealing the confidential information of an end-user. This may result in money transfer fraud, malicious software links, and URLs that lead to sites containing malware.

What is Phishing?

Phishing is a cyberattack in which malicious actors send disguised emails or text SMS with a suspicious link to their target. The message’s purpose is to create a sense of urgency and compel the victim to click on the link. After tapping on the link, the target is taken to a new website that looks like a legitimate website of the victim’s bank or any other organization where the target does confidential business. The target may also be coerced to download some malicious program from the link. Read about cybercrime in detail.

Statistics of Phishing Attacks:

• Anti-Phishing Working Group (APWG) observed 1,270,883 total phishing attacks in the third quarter of 2022, a new record and the worst quarter for phishing that APWG has ever observed.
• The financial sector represented 23.2% of all phishing attacks – the highest among all sectors.
• Reports state that spear phishing attacks are also growing. About 65% of cybercriminals have leveraged spear phishing emails as their primary attack vector.
• IBM’s 2022 Cost of Data Breach Report found that the average cost of data breaches rose from $4.24m in 2021 to $4.35m in 2022.
• The International Cricket Council (ICC) cricket board has fallen victim to online fraud. It has lost more than $2.5 million in a recent phishing attack.

Types of Phishing

There are numerous kinds of phishing techniques that hackers use to manipulate their prey. So for recognizing and avoiding these scams, you must be aware of them. Phishing emails are one of the most commonly used phishing techniques. Here are the other primary phishing methods:

1. Smishing

As the name indicates, SMS phishing or smishing is carried out by sending customized messages on mobile phones with suspicious links. The content of the text message can be on the lines of:

• You won a lottery ticket
• Your bank needs important information
• Your account has been hacked
• There is a discount offer from a top brand

These messages attract many people who follow these links and end up being the victim of these scams. Vishing is another form of phishing that works the same as smishing but is carried out through a voice call.

2. Spear Phishing

Spear phishing is an email or electronic communication hack aimed at a particular person, company, or business. While often meant for fraudulent purposes to steal information, hackers may even try to install malicious software on a targeted consumer device.

3. Pharming

Pharming is a fraudulent activity in which infected software is mounted on a computer or website, misleading people to fake web pages without their awareness or permission. Pharming is usually referred to as “phishing without a charm.”

4. Whaling

Whaling is a heavily concentrated phishing attack – disguised as a valid email – aiming at senior managers. Whaling is a digitally powered social engineering scam, intended to induce targets to take specific actions, like setting up a wire transfer of money.

5. Search-Engine Phishing

Search engine phishing occurs when a hacker successfully grabs the top position on google or any other search engine. The user may find deals or notifications that invite him to check the site. The search process may be valid, but the site is bogus and only operates to capture confidential information from the user. Read more about how search engines work.

As of now, you have become familiar with the significant phishing techniques. Let us move ahead to see what suspicious messages look like – this information will help you detect them quite easily.