What Is Phishing: 4 Ways Cyber Criminals Use Phishing Campaigns To Expose Companies And Their Data
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What is phishing? A type of social engineering.
Phishing is a form of social engineering to steal user data including:
Phishing attacks not only victimize individuals. They are frequently targeted at businesses small and large across the globe. Nearly all businesses are becoming more and more vulnerable to cyber attacks, including phishing this 2021.
Without knowing what a phishing attack actually is -leaves more room for hackers to get access to business and personal credentials.
How Phishing Attacks Work
Phishing happens when a cybercriminal masquerades as an authorised person or entity such as:
The list can go on and on as phishing attacks constantly evolve and each time, they can become more creative in crafting their next phishing strategy.?
Once a recipient is successfully tricked into thinking the email or SMS is from a legitimate sender, the chances of them clicking on a malicious link or attachment is dramatically increased.
The link or attachment, which might contain either malware, a ransomware attack, has the ability to freeze your systems, tools, and operations or worse.
One of the greatest risks to the business from a phishing attack is when a bad actor gains access to sensitive information (database, client records, personal information, health records, etc) with the threat of revealing it to the public through portals on the dark web.
What Is Phishing? The Methods Used In A Phishing Attack
Bad actors ‘hackers’ are very creative and trendy. They imitate various companies that are perhaps gaining fame and a high number of users, for example, Microsoft Office 365, Samsung, Netflix, Amazon, WhatsApp, and even Twitter.?
Unfortunately, hackers do not only focus on large companies. More and more hackers are targeting local small business owners and their teams. They may pose as a client, local supplier, a workmate, or even a friend.
Given the seemingly wide scope of phishing attacks, and the limited cyber awareness of small businesses and their teams – it’s no wonder cybercriminals are upping the ante on them as targets.
The True Cost Of Phishing Attack
A study conducted by Microsoft with the help of the 2019 Hiscox Cyber Readiness report in 2020 shows the financial losses of cyber incidents in SMEs as follows:
This is just the tip of the iceberg.?
Phishing isn’t solely measured by the number of phishing styles and attempts presently used. The financial impact does not end on the monetary losses listed above. Phishing attacks are way bigger than they appear, especially for small and medium businesses.
This is why investing in cyber intelligence solutions that support your existing cybersecurity methods are critical. Partner with us. Visit https://darkxposed.com today!