With the integration of technology into everyday life, popular language has been flooded with various tech phrases that barely existed just a few decades back. Phishing is one such important term, which has lately made millions of Americans anxious.
But what exactly does it mean, and how can you protect yourself against it? Keep reading to learn more.
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Phishing Explained
Phishing is a type of scam where malicious actors trick people into revealing personal or sensitive information.
However, in practice, it is not as simple and straightforward as its definition. In fact, phishing schemes usually involve a fairly complex set of activities.
For instance, they frequently rely on impersonation techniques to mimic reputable or well-known individuals and entities. This allows scammers to build trust and credibility so they can get targeted victims to put down their guard.
Phishing attacks can be launched via a variety of mediums, from emails, phone calls, and SMSs to social media DMs and WhatsApp messages.
Sometimes, they are focused on duping specific individuals. Fraudsters may also launch them on a mass scale, targeting a random audience.
How they get hold of personal information can also vary—they could ask you directly, use a malicious link to guide you to a phishing site, or deploy malware to extract data from your devices.
Despite the diverse and complex nature of phishing scams, the ultimate motive is almost always the same. What criminals are after is data of value that could help them carry out financial fraud and other unlawful activities.
What type of information would they steal? It can range from social security numbers, driver’s licenses, tax IDs, and bank details to account usernames and passwords.
But remember, it is not just individuals who experience phishing. Organizations and governments can become victims, too.
For instance, scammers can phish for business plans, customer databases, confidential government contracts, and various other records they could monetize.
As a result of phishing, individuals could lose their identity or encounter extortion, doxxing, and financial scams. Governments and businesses may experience security threats, competitive risks, reputational damage, and similar trouble.
What Types of Phishing Threats Are Common?
Prevalent risks include:
● IRS Scams
IRS imposters can steal tax identification details from individual taxpayers and file tax claims under their victims’ names.
● Fake Tech Support Calls
For example, fraudsters pretending to be technical staff of a reputed tech company can call you to inform you about a virus threat to your computer.
To fix it, they will ask to access the device remotely. If you allow, they could plant malware or access confidential files.
● Romance Fraud
Prevalent on dating apps and social media, these scams involve deceptive actors striking up romantic relationships on the internet to extract identifiable data from victims.
● Sham Lotteries and Sweepstakes
Calls and emails from shady lotteries and sweepstakes could announce major prize winnings and request your bank account, tax and address information, and similar identity-related data.
● Hoax Account Verification Requests
Criminals imitating banks, social media platforms, email services, and various other service providers can ask you to verify your account or to reactivate it by using a link they have emailed. When you click, it will take you to a phishing site set up to steal your account login credentials.
● Charity Scams
Charity impersonators are widespread in times of floods, hurricanes, pandemics, and similar catastrophes, as well as during holidays when people are more willing to give. These fraudsters could dupe you into revealing your credit card details under the guise of processing a donation.
● CEO Fraud
In this type of scam, dishonest actors mimic CEOs and other senior executives to trick employees into sharing confidential business information, which they can later sell on the dark web or use for extortion or reputational damage.
Guarding Against Phishing: Essential Tips for Your Safety
In 2023, phishing was responsible for 36% of data breaches in the US. It is a highly prevalent threat you can no longer ignore.
To remain safe and mitigate possible threats, here are proven tips to follow.
Guard Your Personal Data
Information you share online can make you extra vulnerable to data threats.
So, minimize voluntary sharing—think twice before posting or commenting on social media, avoid newsletters, memberships, and surveys that request personal details, and use a secondary email and phone number to sign up for online accounts.
If anyone requires your PII, whether online or in person, ask questions to understand why they need it. Even a legitimate organization, such as the IRS, should provide you with a justifiable reason for requesting identifiable data.
Watch Out for Telltale Signs of Phishing
Common giveaway signs of phishing scams could help you identify and avoid them. These include:
● Emotional games that put pressure on victims to act in haste. For instance, criminals often bank on fear, empathy, and greed to manipulate victims in phishing frauds.
● Unusual language use, such as greetings and phrases atypical to the relevant person. Excessive typos are another warning sign to take note of.
● Unverified links and attachments that direct users to malicious sites or install malware.
● Unusual email addresses that contain numbers and special symbols, including dashes and hyphens. Remember, legitimate organizations usually own their domain name, which allows them to create professional and uncomplicated email addresses.
Know Who You Are Dealing With
When a loved one or a familiar organization unexpectedly calls, emails, or messages you are asking for personal information, there is a high chance you are dealing with an imposter in disguise.
To avoid falling into their scams,
● Compare email addresses with the usual emails used by the respective person or entity.
● Verify phone numbers with a reverse number lookup on Nuwber to check who they belong to.
● If someone you know contacts you using an unfamiliar email, phone number, or social media profile, call them on a number you have already saved on your phone. If it is an organization, find a verified number or a general hotline to reach out to them.
Set Up Defensive Digital Barriers
Using unique passwords that are difficult to infiltrate, setting up two-factor authentication, installing malware protection, and activating automatic updates for software on your devices are all essential practices to avoid data threats.
Final Thoughts
While you take every measure possible to identify and prevent phishing, monitoring for data breaches is also crucial for minimizing damage.
If you believe you have experienced a phishing attempt or have become a victim of one, report it to the local police, Federal Trade Commission, and Federal Communications Commission. Don’t forget to alert the person or organization that was impersonated, too.
