Phishing is a prevalent and dangerous form of cyber attack aimed at stealing sensitive information by masquerading as a trustworthy entity. One of the core challenges is the sophistication with which these attacks are crafted, making it difficult for even savvy users to recognize them. 

Throughout this blog, you will uncover the mechanics of phishing, learn how to identify various types of phishing attacks and gain valuable tips to protect yourself from falling victim. You'll also find steps on what to do if you do fall prey to such scams, ensuring you can respond swiftly and effectively.

What Is Phishing?

Phishing is a type of cyberattack where scammers use deceptive tactics to trick individuals into providing sensitive information, such as passwords, credit card numbers, or other personal data. The term "phishing" comes from the word “fishing” because attackers "bait" their targets, hoping to "hook" them into revealing their confidential details.

Phishing typically occurs through fake emails, messages, or websites that appear to be from trusted sources, but the goal is to steal information or infect a system with malware. Once cybercriminals have this data, they can commit identity theft, financial fraud, or unauthorized access to systems.

In 2023, the APWG reported to have observed approximately five million phishing attacks over the entire course of the year, making it a record-high year. This statistic helps in highlighting the grave nature and frequency of this attack and further makes understanding and learning about ways to prevent and be safe from it, more essential.

Common types of phishing

  1. Email phishing - This is the most common form of phishing, where attackers send fraudulent emails designed to look like they’re from a legitimate source, such as a bank or online service. The email often contains a link to a fake website, where victims are asked to enter sensitive information.
  2. Spear phishing - Unlike general phishing attacks that are sent to many people, spear phishing targets specific individuals or organizations. The attacker often personalizes the email by using information like the target's name, position, or details about their workplace to make the attack more believable.
  3. Whaling - This is a specialized form of spear phishing that targets high-level executives or important individuals in a company, such as CEOs or CFOs. The goal is often to steal highly sensitive data, such as financial records or proprietary business information.
  4. Smishing and vishing
    • Smishing involves phishing via SMS (text messages). Attackers send fake messages pretending to be from reputable companies, encouraging recipients to click on malicious links.
    • Vishing involves voice phishing through phone calls. Scammers pretend to be from a legitimate organization, like a bank or government agency and attempt to trick victims into revealing personal information over the phone.
  5. Clone phishing - In this method, attackers create an almost identical copy (clone) of a legitimate email that the victim has previously received. The attacker replaces the links or attachments in the cloned email with malicious ones. Since the email looks familiar, the victim is more likely to trust it.
  6. Business Email Compromise (BEC) - In a BEC attack, attackers spoof the email address of someone in a company, often a high-ranking employee, and instruct others within the organization to transfer money or share sensitive information. This type of attack is particularly dangerous because it preys on the trust between colleagues and can lead to significant financial losses. 
  7. HTTPS Phishing - Hackers exploit the common belief that a site with HTTPS is secure in HTTPS phishing. Hackers send emails with links to fake websites that look very real and even use HTTPS to seem trustworthy. If you’re not careful, you might end up entering your sensitive information on a fake site. 
  8. Pharming - Hackers manipulate DNS settings or use malware to redirect users to malicious websites without their knowledge in pharming attacks. Even if you type the correct URL, you might end up on a fake website designed to steal your login credentials. A notable incident in 2007 targeted over 50 financial institutions globally, tricking users into entering their sensitive data on false websites.

This YouTube video provides a comprehensive overview of the different types of phishing attacks such as phishing, vishing, and smishing. It also explains how to identify and avoid these attacks, which can help one understand various phishing techniques and improve their cybersecurity awareness.

How does phishing work?

Phishing attacks typically follow these steps:

  1. Baiting the target: The attacker sends out emails or messages designed to look like they come from a trusted source. This could be a bank, social media platform, or even a colleague. The email usually urges the recipient to take action—click on a link, download an attachment, or log in to their account.
  2. The trap – Fake websites and attachments: The email often contains links to fake websites that are designed to look exactly like legitimate ones. When the target enters their login details or other sensitive information, the attacker captures it. Sometimes phishing emails contain attachments, such as documents or PDFs, that, when opened, infect the user’s device with malware.
  3. Exploitation of information: Once the attackers have the victim’s personal information, they can use it to:
    • Steal money directly from bank accounts.
    • Access confidential accounts, such as email, social media, or corporate systems.
    • Commit identity theft by using the stolen information to open new accounts or take out loans in the victim’s name.
  4. Spreading malware: Phishing attacks can also involve malware (malicious software). The email may contain a virus or Trojan horse, which, when downloaded, can compromise the victim's system, allowing attackers to control the device remotely, steal data, or use it for further attacks.

Why is phishing dangerous?

  • Financial loss: Phishing can result in the direct theft of money, unauthorized charges on your credit card, or fraudulent transactions from your bank account.
  • Identity theft: Phishers can use your stolen personal data to open new credit accounts, take out loans, or commit fraud in your name.
  • Reputation damage: Businesses that fall victim to phishing attacks may suffer damage to their reputation, especially if customer or employee data is compromised.
  • Corporate espionage: In some cases, phishing attacks are aimed at businesses, to steal proprietary information, intellectual property, or trade secrets.

Comprehensive brand protection services from Nametrust can help your business prevent reputation damage caused by phishing.

How To Recognize A Phishing Attack?

An illustration of a detective at an evidence board with red string connecting various letters, documents, and suspicious items on a cork board

Phishing attacks come in various forms, from emails to SMS and even internal company communications. Here's how to spot the signs:

1. Suspicious sender information (Email & SMS)

  • Email: Check the sender’s email address carefully. Look for subtle misspellings or extra characters that differ from the official domain (e.g., "support@paypall.com" instead of "support@paypal.com").
  • SMS: In smishing attempts, attackers might use unfamiliar phone numbers or spoof well-known companies. Be cautious if the SMS number is unusually long or lacks an official sender ID.

2. Urgent or fear-inducing language

Phishing attacks often attempt to create a sense of urgency or panic:

  • Email: "Your account has been compromised! Act now to restore it.”
  • SMS: Smishing messages may claim that your bank account is at risk or your package cannot be delivered unless you click a link.
  • BEC: A company executive’s "urgent" request for a financial transfer or sensitive data can pressure employees into acting without question.

3. Generic or unusual greetings

  • Email & BEC: Legitimate companies and internal emails usually address you by name or role. If you see a greeting like "Dear Customer" or "Dear Employee" instead of your name, be suspicious. Phishing emails and BEC attacks may also use awkward language or phrasing.
  • SMS: Smishing often avoids addressing the recipient by name, sticking with generic terms like “Dear user.”
  • Email: Always hover over links to see if they match the legitimate company’s URL. Malicious attachments, especially files you weren’t expecting, should raise red flags.
  • SMS: Clicking on unknown links in a text message could lead to malicious websites or trigger malware downloads on your device. Double-check any unexpected links, even if they seem to come from trusted sources.
  • BEC: Be especially wary of email requests for transferring funds or sharing confidential data. Attackers might use language like "urgent payment required" or "send the requested information ASAP."

5. Requests for sensitive information

  • Email & BEC: No legitimate company or executive will ask for personal or financial information via email. Be cautious if you're asked to verify account details or share passwords.
  • SMS: Never share login credentials, account numbers, or personal information in response to a text message, especially if it appears to come from a bank or government agency.

6. Poor spelling and grammar

  • Email & SMS: Phishing emails and smishing messages often contain obvious spelling mistakes or grammatical errors, as many originate from foreign sources. Professional companies usually proofread their communications.
  • BEC: Although BEC scams tend to be more polished, subtle typos or incorrect phrasing in an email from a company leader might indicate a compromised account.

7. Mismatched URLs or spoofed websites

  • Email: If a link takes you to a website, check the URL carefully. Phishers can create spoofed websites that mimic real ones but may include extra characters or slight differences (e.g., "www.bank0famerica.com" vs. "www.bankofamerica.com").
  • SMS: Phishing texts often lead to fake login pages that resemble official websites. Double-check the web address before entering any information.
  • BEC: In some cases, attackers may set up fake company websites that closely resemble real ones to trick employees into sharing sensitive business information.

8. Requests for financial transfers or sensitive company information

  • BEC (Business Email Compromise): In these highly targeted attacks, hackers impersonate high-level executives or department heads to deceive employees into making large wire transfers or sharing confidential information. Always verify such requests via a secondary method (phone call or face-to-face).

This Reddit discussion explores automated processes for handling phishing emails. Tools like Proofpoint TAP & TRAP, and other automated outreach screening solutions, are recommended to alleviate the manual burden on SOC teams. This allows better resource allocation towards threat hunting and investigation.

https://www.reddit.com/r/cybersecurity/comments/13haqtu/how_do_you_deal_with_phising_emails_at_your

How To Protect Yourself From Phishing?

Phishing attacks can be incredibly deceptive, but there are several strategies that you can adopt to shield yourself and your sensitive information from these threats. Some effective ways to safeguard yourself and your personal information from phishing attacks include: 

  1. Don’t share personal information in unsolicited requests

Never provide personal details like your Social Security number, credit card information, or passwords in response to unexpected emails, calls, or texts. Legitimate companies will never ask for this kind of information through these channels. If you didn’t initiate the contact, don’t share your information. It’s safest to delete suspicious messages and avoid responding to them.

  1. Verify requests by contacting institutions directly

If you receive a message asking for sensitive information, always verify its legitimacy. Contact the company directly using trusted sources like their official website or a phone number from a reliable directory, rather than using the contact details in the message.

  1. Never provide passwords over the phone or in unsolicited messages

Be cautious when it comes to your passwords or any authentication codes. Legitimate businesses won’t ask for these over the phone or through unsolicited messages. Always protect your login credentials.

  1. Regularly check account statements for unusual activity

Monitor your financial accounts and credit reports for suspicious activity. Regularly reviewing your statements can help you catch any unauthorized transactions early, preventing bigger problems later.

  1. Use anti-phishing tools and keep your software updated

Utilize anti-phishing and security tools to add an extra layer of protection. Keeping your antivirus, anti-spyware, and firewall software up to date ensures you’re protected against the latest threats. Regular updates patch vulnerabilities that attackers may try to exploit.

Advanced monitoring tools available through Nametrust can offer real-time alerts and help you stay ahead of potential security threats.

Alright, now let's talk about what to do if you've already clicked on that sketchy link or given away your information.

What To Do If You Fall Victim To Phishing?

Falling for a phishing scam can be alarming, but acting quickly can minimize the damage. Here are the steps to take if you’ve been a victim:

  1. Contact your bank or credit card company immediately
  2. Place a fraud alert with credit bureaus
  3. Report to the Federal Trade Commission (FTC)
  4. Monitor your accounts and credit reports
  5. Change passwords and enable two-factor authentication (2FA)
  6. Scan your devices for malware
  7. Alert the company or organization being impersonated
  8. Keep a record of everything
  9. Report to law enforcement

How To Effectively Report Phishing Attempts And Protect Yourself

Phishing scams are increasingly sophisticated, but reporting them helps curb their spread and protect others. Here's a comprehensive guide on how to report phishing attempts effectively:

  1. Forward phishing emails to APWG

If you receive a phishing email, forward it to the Anti-Phishing Working Group (APWG) at reportphishing@apwg.org. This organization works with internet service providers, security vendors, financial institutions, and law enforcement to track and dismantle phishing operations.

Tip: Be sure to include the email headers, as these provide key technical details like the origin of the message. Most email clients allow you to view and include headers when forwarding emails.

  1. Forward phishing texts to SPAM (7726)

If a phishing attempt arrives via text message, forward it to 7726 (SPAM). This service, supported by most mobile carriers, helps block the sender and prevent further phishing attempts from the same number.

Tip: In addition to forwarding the message, you can block the number on your phone or report it through your carrier's app or website.

  1. Report phishing to the Federal Trade Commission (FTC)

If you suspect you’ve fallen victim to phishing, report it to the FTC via their website at ReportFraud.ftc.gov. The FTC uses this information to track phishing scams and pursue legal action against cybercriminals.

Tip: After reporting the phishing attack, consider reviewing the FTC’s identity theft recovery plan if your personal information was compromised.

  1. Report to your email provider or mobile carrier

Email providers like Gmail, Outlook, and Yahoo have built-in tools to report phishing attempts. Most have options like “Report Phishing” under their spam or settings menus. By reporting to your email provider, you help improve their security systems to detect and block phishing emails more effectively.

  1. Notify the impersonated company or service

If a phishing email or message claims to be from a legitimate company (such as your bank, an online service like Amazon, or a government organization), report the incident directly to that company. Most have dedicated security or fraud departments that deal with phishing.

Tip: Check the company’s official website for their phishing report email or page. For instance, PayPal asks users to forward phishing emails to spoof@paypal.com, while many banks have similar reporting addresses.

  1. Report to local authorities or law enforcement

If you’ve been defrauded or suffered financial loss due to phishing, it’s important to file a report with local law enforcement. In some countries, phishing and identity theft can also be reported to specialized agencies:

  • In the U.S., report to IC3.gov, the Internet Crime Complaint Center, which works with the FBI.
  • In the UK, report to Action Fraud, the UK’s national fraud and cybercrime reporting center.

Tip: Keep detailed records of the phishing attempt, any losses, and your actions. These documents can be useful when reporting to law enforcement.

  1. Notify your IT department or cybersecurity team

If the phishing attack occurred on your work email or device, immediately notify your IT department or cybersecurity team. They can take steps to secure the network, alert other employees, and prevent further breaches.

  1. Utilize browser or application reporting tools

If you encounter phishing websites while browsing, most modern browsers like Chrome, Firefox, or Safari have options to report the website as unsafe or deceptive.

Tip: Reporting malicious websites helps browsers improve their phishing detection capabilities and prevent others from being exposed to the threat.

Additional tips for reporting phishing

  • Stay informed: Regularly update your knowledge on the latest phishing scams and trends. This helps you recognize new phishing tactics and report them more effectively.
  • Be cautious when clicking links: If you suspect an email is phishing but aren’t sure, don’t click on any links or download attachments. Verify by visiting the official website directly or calling the organization.
  • Check with local cybersecurity agencies: In many countries, national cybersecurity agencies maintain databases of phishing reports and offer support in handling phishing attempts. Examples include CISA (Cybersecurity & Infrastructure Security Agency) in the U.S. and CERT (Computer Emergency Response Team) in various countries.

How Nametrust Can Help Protect Against Phishing?

Phishing attacks often exploit weak spots in domain management, making it crucial for businesses to safeguard their online presence. Nametrust provides comprehensive solutions that help protect your brand from phishing and other cyber threats. Here's how Nametrust can strengthen your defense:

  1. Domain security and protectionOne of the most common phishing techniques is domain spoofing, where attackers create fake domains that closely resemble your company’s. Nametrust combats this by offering advanced domain registration services that secure your business’s key domains. This prevents cybercriminals from acquiring look-alike domains that could be used in phishing schemes.
  2. Anti-phishing monitoring and alertsNametrust offers real-time monitoring tools that detect and flag suspicious domain activity. If a potential phishing domain is registered or an unauthorized website begins mimicking your brand, Nametrust alerts you immediately, allowing you to take swift action to prevent attacks.
  3. Brand protection servicesPhishers often target businesses with strong online brands by imitating them. Nametrust’s brand protection services safeguard your brand identity across multiple digital platforms, making it harder for attackers to impersonate your company in phishing emails or fake websites.
  4. Expert cybersecurity supportNavigating the complexities of phishing protection requires specialized knowledge. Nametrust provides expert support to help businesses assess their vulnerabilities and implement the best practices in domain security. Their team works with you to ensure your domains and digital assets are secure from phishing attempts.
  5. Streamlined domain managementEfficient domain management can make a significant difference in your defense against phishing. Nametrust offers centralized domain management tools that simplify the process of securing, renewing, and monitoring all of your company’s domains, helping you stay ahead of potential threats.

Take Action Today

Phishing attacks can cause significant damage to your brand and business. With Nametrust, you get the tools, expertise, and security features needed to protect your online identity from phishing threats. Don’t wait until an attack happens—strengthen your digital trust today.

Visit Nametrust today to learn more about how we can protect your business from phishing and other cybersecurity risks.

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