Imagine receiving an email that appears to be from a trusted source, like the service you actively use, your bank, a well-known company, or even a colleague. The email requests urgent action, urging you to click on a link, provide personal information, or download an attachment. Sounds familiar? It probably does, since most of us have been targets of a phishing scam at least once. But it’s 2023, why are we still talking about phishing? Isn’t it old news by now? 

It’s true that phishing has been around for a long time but it’s not going anywhere. 

According to Cisco’s 2021 Cybersecurity Threat Trends Report, phishing attacks make up over 90% of all data breaches, far outnumbering malware and ransomware attacks, affecting millions of users yearly.

Why is phishing favored by cybercriminals so much? Because it plays on what has been often described as “cybersecurity’s weakest link”: us. Statistics reveal that 82% of online security breaches involve the human element, and that largely means employees being duped into clicking on malicious links and diving into fraudulent sites. This is why understanding the nature of phishing, staying vigilant and educating your teams remains crucial. 

What is Phishing?

Phishing is a cyber attack that involves tricking individuals into divulging sensitive information, such as passwords, credit card numbers, or company data. Scammers employ a range of tactics to make their messages appear legitimate, often using social engineering techniques to exploit human vulnerabilities and manipulate victims into taking actions that benefit the attackers.

Recognizing Phishing Attempts

Phishing attempts can come in various forms, such as emails, text messages, phone calls, or even through social media channels. However, there are telltale signs to watch out for:

• Suspicious sender: Pay attention to the email address or phone number of the sender. Be cautious if it seems unfamiliar, or if the domain seems nearly identical to a real one but contains misspellings, or appears slightly altered from a known contact.
  
• Urgency and fear tactics: Phishing emails often create a sense of urgency, instilling fear or panic to prompt immediate action. Beware of messages demanding urgent responses or threatening consequences delaying the action (e.g. to provide information immediately to avoid blocking your account within the next 24 hours). 
• Poor grammar and spelling: While we all make mistakes, legitimate organizations typically proofread their messages. Phishing emails often contain grammatical errors, typos, or awkward sentence structures. That said, sometimes scammers copy the wordings and the tone of voice of legitimate corporate emails perfectly, so you should never take a professionally looking email at face value.  
• Suspicious links and attachments: Hover your mouse over links without clicking to reveal the destination URL. If it appears dubious or leads to unfamiliar websites, exercise caution. Similarly, be cautious when downloading attachments, as they may contain malware.

How Do You Protect Yourself and Your Business From Phishing? 

Awareness and Education: Foster a culture of cybersecurity awareness among employees. Conduct regular training sessions to educate your team about the latest phishing techniques and how to identify suspicious emails or messages.

Verify the sender: Always verify the identity of the sender before clicking on any links or sharing sensitive information. If in doubt, reach out to the organization through official channels to confirm the legitimacy of the communication.

Secure your passwords: Use strong, unique passwords for all your accounts and consider implementing multi-factor authentication (MFA) whenever possible. Avoid using easy-to-guess information such as birthdays or pet names as passwords.

Keep software up to date: Regularly update your operating systems, applications, and security software to ensure you have the latest protection against potential vulnerabilities.

Be cautious on public Wi-Fi: Avoid accessing sensitive information or conducting financial transactions when connected to public Wi-Fi networks. Hackers can intercept your data on unsecured networks, potentially exposing it to phishing attacks.

Encourage reporting: Establish a clear process for employees to report suspected phishing attempts. This facilitates quick response and minimizes potential damage if an attack occurs.

Phishing scams continue to evolve, and cybercriminals are always on the lookout for new ways to exploit unsuspecting individuals and businesses. By staying vigilant, adopting best practices, and fostering a cybersecurity-conscious environment, you can protect yourself, your employees, and your organization from falling victim to these deceptive schemes. Remember, a well-informed and alert workforce is your strongest defense against phishing attacks. Stay safe and don’t get hooked.