diogGoogle has noted over a 600% increase in phishing attacks in 2020 compared to the previous year, amounting to over two million phishing sites. And these are just the ones recorded. These phishing sites are effectively gateways to infiltrate unsuspecting victims of their private information, leading to ransomware attacks, business email compromise (BEC), identity theft, brand impersonation, and many similar criminal acts.
With the current and future generation looking toward a more digital future, it’s more likely that phishing sites will pop up more often. Since digital transactions will be more of a norm, there’s always a looming risk of falling prey to these types of scams. For this reason, online users need to be more aware and informed of the dangers of phishing and how these attempts can be spotted.
An Overview on Phishing Websites
A phishing site’s general function is to commit fraud by taking an unsuspecting victim’s private information. It can come through a message through email, SMS, or via phone call. A person’s login details or banking information will be requested either by responding to the message or inputting it on a linked website. While it may seem simple, cybercriminals have developed different methods to swipe this personal information over the years.
In this article, we’ll go over four different phishing techniques you should watch out for.
1. Spear Phishing
This cyber-attack uses information gathered about a person to create a convincing message. It usually contains personal information stolen by a person, typically a service they subscribe to, like a bank or loyalty membership program, to generate a response. Besides harming customers of service providers, spear phishing also damages the reputation of the establishments cybercriminals pretend to be.
It was typical for many people to wait for instructions from service providers and even government agencies during the pandemic. This is because financial relief for specific demographics had to be disseminated in this way. For this reason, cybercriminals took this opportunity to pose as reputable entities to trick people into revealing personal information like account details or credit card numbers.
3.Business Email Compromise (BEC)
This phishing strategy has a more multi-layered approach to damaging a victim. After stealing the personal account details of a person, the cybercriminals use their email account to commit fraud in numerous ways. Using their corporate email, a person can impersonate as their victim to defraud other businesses or client bases of sensitive information.
4. Angler Phishing
With the popularity of social media platforms, angling phishing has been added to the list of everyday cybercriminal activity. Through fake job posts, cybercriminals steal company data by posting through a dummy account. This helps them generate legitimacy to their profiles by making connections with actual individuals. Doing so makes their attempts at collecting data seem legitimate.
AS today’s generation becomes more reliant on digital transactions, it’s vital to be aware of the dangers of technological advancements. Techniques new and old can come creeping back into the spotlight due to cybercriminals looking to catch people off guard with their complacency with technology. Thankfully, specialised service providers are willing to take on the challenge to put a stop to their operations.
It’s best to work with a digital brand protection company if you want to protect your business from harm. At FraudWatch, our cyber intelligence analysts, can keep your business’s operations free from threats. Contact us today!