What is Phishing?
Phishing is when cybercriminals send out emails, instant messages or phone calls pretending to be trusted sources like banks or credit card companies in order to trick victims into revealing private information that can then be used for malicious purposes. The goal can vary widely – from handing over passwords that make hacking the victim’s accounts easier to giving up money to cover fraudulent transactions.
The message can be delivered via email or through instant messaging and other social media platforms. Spear phishing targets specific groups of people, often using corporate branding and logos to increase credibility and trustworthiness. Viruses and malware can be hidden within links or attachments. The link may look legitimate, but if you hover over it with your mouse or copy and paste it into your browser you might discover that the site it leads to is designed to mine information (scammers are getting smarter; they often use technical tricks like jumbled website URLs and spoofing of padlock icons that are supposed to denote security).
Victims who reply to phishing attacks often end up having their sensitive information stolen. This could mean stealing account numbers, passwords or other financial details, or in the worst cases a fraudster can use the information to hijack a victim’s bank account or run up bills on their credit cards, or even steal identities by obtaining driver’s licenses and passports in the victim’s name.