A Deep Dive Into Phishing Scams

Being aware of the threat that phishing scams offer to companies like yours is absolutely essential because they continue to be one of the most widespread and effective types of scams in use today. If you don’t fully comprehend how threat actors use phishing emails, your company can very well become the next victim.

The purpose of phishing emails, different phishing assaults, and most importantly how to secure your email and business are all covered in this blog.

The goal behind phishing emails

Phishing emails are used by cybercriminals to trick unsuspecting victims into making decisions that have an impact on business operations, such as paying money, providing passwords, installing malware, or disclosing private information. A phishing attack’s main goal is to steal your money, data, or both.

Financial theft – A phishing attempt’s primary objective is typically to steal your money. Scammers carry out fraudulent bank transfers or launch ransomware attacks to demand money using a variety of strategies, such as business email compromise (BEC).

Data theft – Your information, including usernames and passwords, identification details like social security numbers, and financial details like credit card or bank account numbers, is worth more than gold to hackers. Your login information may be used by them to steal money or inject.

Be vigilant and look out for these phishing attempts:

Be cautious if an email requests that you click on a link. Phishing emails with links that lead to malicious software that can steal your data and personal information are distributed by scammers.
Be wary if an email leads you to a website. It can be a dangerous website that can steal your private data, such as your username and password.
Be cautious if an email has an attachment. Malicious extensions can infect your computer and steal your personal information by pretending to be a document, invoice, or voicemail.
Be wary of emails that try to pressure you into doing something quickly, like transferring money. Before you do anything, make an effort to confirm the request’s legitimacy.

Different types of phishing

It’s crucial to remember that phishing scams can target companies of all sizes and are continuously changing. Cybercriminals frequently utilise phishing emails, but they also communicate via texts, voice calls, and social media.

The various phishing traps that you should be on the lookout for include the following:

Spear phishing – Scammers target individuals or businesses with highly personalised emails in an effort to persuade them into disclosing sensitive information like credit card numbers or login credentials. Infected malware is propagated using spear phishing emails as well.

Whaling – Whale phishing, also known as whaling, is a type of spear phishing that targets high-ranking executives by having scammers pose as reliable sources or websites in order to obtain sensitive data or money.

Smishing – Smishing is a type of cyberattack that is becoming more and more common. Victims are persuaded to transfer money or share personal information through text messages that appear to be from reliable sources.

Vishing – Vishing or voice phishing is a technique used by cybercriminals to phone victims while posing as someone from the IRD, a bank, or the victim’s workplace, to mention a few. The main goal of voice phishing is to persuade the victim to provide private information.

Business email compromise (BEC) — A BEC is a spear phishing attack that uses a seemingly legitimate email address to trick the recipient, who is often a senior-level employee. The most common aim of a BEC scam is to convince an employee to send money to the cybercriminal while making them believe they are performing a legitimate, authorised business transaction.

Angler phishing – Angling, often known as social media phishing, mostly targets users of social media. Cybercriminals using fictitious customer service accounts con unsatisfied clients into disclosing their private information, including bank account numbers. Financial institutions and e-commerce companies are frequent targets of scammers.

Brand impersonation – Brand impersonation, also referred to as brand spoofing, is a sort of phishing scam that utilises emails, texts, voice calls, and social media posts. Cybercriminals pose as a well-known company to deceive its clients into disclosing personal data. Even though brand impersonation primarily targets consumers, the occurrence may damage the brand’s reputation.

Bolster your email security

Nowadays, a business’s success depends on emails. It can be difficult to apply email best practises and safety standards on your own, though. Because of this, you ought to think about collaborating with an IT service provider like us. We have the means and resources to defend your company against cyberattacks, allowing you to worry-free concentrate on important duties.