Phishing scam the major fraud hack employed by fraudsters

What are phishing scams and how do they work?

TABLE OF CONTENT

1. What are phishing scams?

2. Stages of phishing scams.

3. Technologies behind phishing scams.

4. How to identify a phishing scam

5. How to stop phishing scam

6. Phishing scam software detector

phishing scam hack

What are phishing scams?

Phishing is a type of internet scam where cyber criminals try to get sensitive data, including passwords, credit card numbers, and other personal details, by impersonating a trusted institution. They typically do this by urging the receiver to click on a link or open an attachment in emails or messages that appear to be from a reliable source (such as a bank, a government agency, or a well-known firm). The victim is then re-directed by the link to a fake website that imitates the real website where they are prompted to provide sensitive personal data, which is subsequently captured by the cyber criminal. Phishing scams can also be carried out via text messages or phone calls.

Stages of phishing scams

Phishing scam is perpetuated on different levels and this is dependent on who the target victim is. The following methods are commonly taken when conducting a phishing scam;

1. Research: The attacker investigates the target, learning about their preferences, activities, and any important financial or personal information.
2. Making a false identity: The attacker makes a false identity, frequently posing as a reputable organization like a bank, a fintech, an NGO, a governmental body, or a well-known business.
3. Making a fake website: The imposter builds a fake website that is visually identical to the real website of the real company.
   Emails or message links; The cyber criminal sends emails or messages inviting possible targets to click on a link or open an attachment.
4. Re-directing victims to a fake website: Victims are directed to the fake website by clicking on the link they sent, and then they are prompted to provide sensitive data on the phishing website.
5. Collection of confidential information: The attacker records whatever sensitive data the victim enters, such as passwords, credit card numbers, and other private details.
6. Usage of the stolen data: The attacker could use the data for illegal purposes like financial fraud or identity theft.

When you receive emails or messages from unusual or unknown sources, it’s extremely crucial to exercise caution and diligence with those messages especially the ones requesting for your sensitive details. Do not fill-in your sensitive information into an unknown website unless you are certain the source is authentic.

Technologies behind phishing scams

Phishing scams frequently employ a combination of psychological engineering techniques and technical tools to fool people into disclosing private information like bank card details, CVV number, OTP, security number, passwords, credit card numbers, or other personal details. The following are some of the technologies used in phishing scams;

1. Email Impersonation: Cyber criminals use email spoofing to send fake emails that seem to be from reputable sources like banks or well-known businesses.
2. Malicious Websites: Fraudsters build fake websites that seem like the websites of reputable businesses or organizations in order to deceive people into providing their personal information on the website.
3. Malware: Cyber criminals use malicious software like viruses and trojans to steal sensitive data or obtain unauthorized access to a computer system.
4. Social Media: Cyber criminals use social networking sites to distribute phishing scams, frequently by sending messages or postings that seem to be from friends or other reliable contacts.
5. SMS (Short Message Service): Cyber criminals utilize Short Message Service to send malicious texts that look to be from a legitimate source to perpetrate phishing scams.

These are some of the technologies that are most frequently used in phishing scams, but fraudsters are continuously coming up with fresh and inventive ways to deceive people into disclosing their personal information.

How to identify a phishing scam

If you have carefully read this article to this point then Identifying a phishing scam should not be a difficult task. However, I have written down important ways below on how phishing scam can be identified;

1. Wrong website URL and poor sentence structure: When inputting sensitive information on a website, be on the lookout for fake signs on the website, such as a URL that differs from the company’s official website or spelling, grammatical, or sentence structure issues.
2. Query suspicious request: Never provide personal or financial information to strangers who contact or text you without your permission. Usually, legitimate businesses won’t contact customers by phone or email to get this information. It is always a red flag when when phone call is soliciting for private details.
3. Check the sender’s identity: If you’re having doubt whether an email is authentic, get in touch with the sender via their different forms of communication channel and social media handles to get confirmation that they actually sent the message.
4. Check for secure connections: Verify that the website is using a secure connection before entering sensitive information by looking for the “https” in the URL and a lock icon in the browser.

You can lessen your risk of falling for a phishing scam by following these instructions and exercising caution when surfing the internet. Fraudsters are developing different means of defrauding people every day. It is important you protect your data at all cost. This article should always be your guide.

How to stop phishing scam

It takes discipline and containment not to fall victim to phishing scams. The majority of scam emails you open are motivated by greed. Unsolicited emails should be avoided, especially if they request personal information. To prevent phishing scams, you should follow these tips;

1. Educate yourself: Keep up with the most recent phishing scams and learn how to spot and avoid them. You can always reference this article or keep a tab on my page for latest updates on fraud hacks.
2. Use updated anti-virus software: Install and keep your anti-virus software updated to safeguard your computer against malware that can be used to steal your information.
3. Enable 2FA or security lock in your account: You can enable two factor authentication in your devices whenever possible. Also set an OTP (One time password) in all your financial transactions. This will make it difficult for fraudsters to divulge your information.
4. Report the scam: If you think you may have fallen victim to a phishing scam, let the authorities and the real company know.

Phishing scam software detector

Many software solutions can detect phishing emails, some popular ones are:

• Microsoft Defender Advanced Threat Protection (ATP)
• Google Gmail’s built-in phishing protection
• Kaspersky Anti-Phishing
• McAfee WebAdvisor
• Symantec Norton Anti-Phishing
• Trend Micro Anti-Phishing
• Webroot Secure
• Bitdefender Anti-Phishing

Think about installing these programs on your devices, some of them are smartphone enabled. These programs employ a variety of methods, including email content analysis, link checking, and reputation monitoring of websites, to identify and stop phishing attacks by fraudsters.

Conclusion

Phishing scam is a fraudulent tactics employed by cyber criminals to defraud people their properties and money. People should be cautious with dealings online and offline that require personal sensitive information by unfamiliar sources. Internet fraudsters are on the lookout for vulnerable users to exploit, don’t fall victim.