The Dangers of Phishing Attacks and How to Stay Protected

What is Phishing?  

Phishing is the process of tricking people into giving up their personal information such as credit card information, passwords, medical records, addresses, and more. This is done through attackers masking their identity and playing the role of a trustworthy entity, such as a bank, online service, or even a friend or colleague. The attacker's goal is to lure unsuspecting victims into revealing sensitive data or clicking on malicious links that can compromise their devices and accounts. 

Why Does Protection Against Phishing Matter?  

The consequences of falling victim to a phishing attack can be severe. It only takes one click on a malicious link or attachment for the attacker to gain access to your personal information, financial accounts, and more. Phishing is the most common form of cyber-crime, with an estimated 3.4 billion spam emails sent every day, according to Vade Secure. Additionally, the use of stolen credentials is the most common cause of data breaches, highlighting the importance of protecting against phishing attacks. 

The financial impact of phishing is staggering. With an average of $136 lost per phishing attack, this amounts to $44.2 million stolen by cyber criminals through phishing attacks in 2021 alone, according to Keeper Security. 

How to Improve Your Phishing Defenses While phishing attacks can be sophisticated, there are several steps you can take to improve your defenses: 

1. Be cautious with suspicious links and requests for personal information.  
   

• Never click on links or provide sensitive data unless you're certain of the source's legitimacy.  

• Phishing emails often masquerade as trustworthy entities to trick you into revealing information. 
  

1. Learn about common phishing email examples and know what to look for:  

• Requests for usernames, passwords, account numbers, or other sensitive information. 

• Sent from suspicious email addresses pretending to be a trustworthy source. 

• Poor spelling and grammar, odd names and addresses. 
  

1. Implement two-factor authentication (2FA): 2FA adds an extra layer of security beyond a password and username, making it much harder for attackers to gain unauthorized access to your accounts and data, even if your credentials are compromised through phishing. 
   

1. After a phishing attack: 
   

• In the U.S., report the attack to the Anti-Phishing Working Group and the Federal Trade Commission. 

• Contact the company being impersonated and report the attack. 

• Change your passwords and re-secure your accounts. 

• Run a malware scan on any compromised devices. 

• Download and install reputable anti-virus software. 

• Invest in a phishing awareness training and phishing simulation like Training, Phishing Simulations. Regular training and simulated phishing exercises can help educate employees on recognizing and reporting phishing attempts, significantly reducing the risk of successful attacks. 
  

1. Consider anti-phishing software and tools, such as: 
   

• Avanan: AI-powered software for cloud-hosted email that can be trained to detect phishing emails. 

• Barracuda Shield: AI software that uses mail provider APIs to analyze message contents and relationships. 

• KnowBe4 - PhishEr: AI software that dissects message contents and relationships, and prioritizes mail for analysis by cyber teams.  
  

By taking a proactive approach and implementing these measures, individuals and organizations can significantly reduce their vulnerability to phishing attacks and protect their sensitive information from falling into the wrong hands.