Phishing scams continue to be a prevalent and effective form to initiate a cyberattack, making it vital to recognize the threat it poses to your company. Without a comprehensive understanding of how malicious actors exploit phishing emails, your business might become a target in the near future.
We want you to understand the intent behind phishing emails, the various types of phishing attacks, and most importantly, how you can secure your business.
The Objective Behind Phishing Emails
Phishing emails are employed by cybercriminals to entice individuals who are unaware into engaging in activities that can disrupt business operations, such as transferring funds, disclosing passwords, installing malicious software, or exposing confidential information. The primary objective of a phishing attack is to abscond with your financial resources, data, or both.
Financial theft: The most predominant goal of a phishing attempt is to steal your money. Cybercriminals use diverse tactics, such as business email compromise, to execute fraudulent fund transfers or ransomware attacks to extort money.
Data theft: To cybercriminals, your data, such as usernames, passwords, identity particulars (such as social security numbers) and financial information (e.g., credit card numbers or bank account details), is highly valuable. They exploit login credentials to execute financial theft or introduce malware. Furthermore, your sensitive data may be traded on the dark web for profit.
Be Aware: Watch for these Phishing Attempts
- If an email asks you to click a link, be cautious. Cybercriminals send phishing emails with links containing malicious software that can steal your information.
- If an email directs you to a website, be guarded. It could be a malicious site that records your personal information, such as your login credentials.
- If an email contains an attachment, exercise caution. Deceptive file extensions, cleverly disguised as documents, invoices or voicemails, have the potential to infiltrate your computer and pilfer your personal information.
- If an email is pressuring you to promptly execute an urgent task, like money transfers, be suspicious. Prior to taking any action, make an effort to confirm the legitimacy of the request.
Different Types of Phishing
It's imperative to recognize that phishing attacks are constantly evolving and can target businesses of all sizes. Although phishing emails are a prevalent technique employed by cybercriminals, they also leverage text messages, phone calls, and social media messaging.Watch out for these types of phishing traps
Spear Phishing
Cybercriminals send highly personalized emails aimed at individuals or businesses to convince them to share sensitive details, such as login credentials or credit card information. Spear phishing emails are also used for spreading infected malware.
Whaling
A type of spear phishing, whale phishing or whaling is a deceptive sheme targeting top-level executives where the perpetrators impersonate trusted sources or websites to steal information or funds.
Smishing
An increasingly popular form of cyberattack, smishing uses text messages that purportedly come from trusted sources to convince victims to divulging sensitive information or sending money.
Vishing
Vishing, or voice phishing, is making calls to victims while assuming the identity of someone from entities like the IRS, a bank or the victim’s workplace, among others. The core intent of voice phishing is to persuade the victim into revealing sensitive personal information.
Business Email Compromise (BEC)
A BEC is a form of a spear phishing attack that uses an email address that appears genuine to deceive the recipient, typically a top-level executive. The primary objective of a BEC scam is to convince the employee into transferring funds to the cybercriminal, all while leading them believe they are performing a legitimate and authorized business transaction.
Angler Phishing
Also known as social media phishing. This particular scam primarily focuses on social media users. Cybercriminals with fake customer service accounts trick discontented customers into revealing their sensitive information, including bank details. Cybercriminals often target financial institutions and e-commerce companies.
Brand Impersonation
Also known as brand spoofing. Brand impersonation is a form of phishing executed using emails, texts, calls and social media messages. Cybercriminals impersonate a well-known company to trick its customers into divulging sensitive information. While the primary target of brand impersonation is the customers, it can also have a detrimental impact on the brand's reputation.
Bolster your Email Security
Emails are crucial for the success of your business. However, implementing email best practices and safety standards on your own can be challenging. That’s why you should consider partnering with an IT service provider like us. We have the resources and tools to protect your business from cyberattacks, helping you to focus on critical tasks without any worry. Contact us now!
Meanwhile, visit our cyberattack resources page where we have a cybersecurity infographic and white paper, among other helpful links to educate you on the importance of cybersecurity awareness. https://chrmanagedservices.com/cyberattack-when-it-happens/
