Phishing is one of the methods used for illegal hacking and it has been widely known to be dangerous. What most companies do not know is the extent of damage it can do.
A phishing scam can be accomplished when a scammer is able to access an organization’s private information or data, and uses it for personal advantage.
One of the common information and highest recorded cases of phishing is bank account details theft. When they have taken hold of your bank information, they may be able to use it to withdraw your money or initiate online transactions without your approval.
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Phishing does not only target individuals but also large companies. There has been a global financial crisis due to the scam, though it is hard to estimate how much a company can lose, but large companies or businesses can definitely lose a big amount of money.
It has been noted in the first quarter of 2016, successful scam attacks have a collective loss of $3.7 million US Dollars.
Apparently, not all enterprises have the resources to create a solid network security or implement proper awareness training to staff. Major cases are caused by individuals falling for the scam.
Let us learn more as we define and discuss the effects of phishing scam in organizations.
Phishing
Phishing is a term for an illegal hacking activity by using fraudulent methods to obtain sensitive and private information such as credit card details, username, passwords, and bank information.
This is usually done by hackers disguising themselves as someone from a trustworthy network, computer service, or electronic communication agency.
Phishing Methods and Effects
Whaling
Most of large companies have experienced this type of activity where the scammer impersonates managers or supervisors and orders their lower staff to send them emails. Some of them will even give instructions to authorize a fund transfer to an account made by the hacker.
Apart from financial or digital asset loss, a company’s greatest challenge is losing its integrity and losing its reputation. This also is a cause of termination in third party contractors, company closure, and losing clients.
Legitimate links
Hackers will use several legitimate links in an email to hide one or few phishing links. This is to evade the security detection that is programmed in your email. When it scans and have identified several trustworthy links, it will assume that the email received is clean.
Tampering with brand logos
Most websites now have URLs, and scammers change the brand logos to be uniquely filtered and invisible to prevent detection. Any slight changes can already fool an email security filter, where they could not read the content and identify the changes in color.
How to Prevent Phishing
Awareness
To protect yourself or the company from phishing, you must understand the different methods and techniques used by hackers in phishing.
Training
When all is knowledgeable of phishing methods, it should be followed by proper training and following protocols.
This includes training in prevention, protection and solution in case of any phishing attacks.
Cybersecurity
Establishing cybersecurity and hiring professional experts to strengthen your network and computer is one of the best way on how to deal with phishing attacks.
Career Opportunity
Cybersecurity is a growing industry and career for people who are IT enthusiasts and professionals.
It branches from different levels of expert fields, with an optimistic career opportunity. Start your journey now with us at Reliable Cyber Solutions, LLC. We have courses and certifications from entry to advanced profession. Visit our website now at RCyberSolutions.
