Phishing attacks are on the rise. Both individuals and companies are vulnerable to these threats, which can lead to devastating consequences like identity theft and loss of financial and other sensitive data. Learn what phishing is and how to protect yourself and your organization against these attacks.
'Phishing' is a cybercrime where individuals use scam emails, text messages, or phone calls to trick their victims into sharing personal information. Their aim is often to trick you into visiting a website, which may download a virus onto your computer or get you to reveal sensitive data including account numbers, banking/credit card details, and usernames/passwords.
For example, you may receive an email attempting to lock your retail account, or your bank might prompt you to log in and approve a purchase.
Phishing attacks account for more than 36% of all U.S. data breaches and increased 345% from 2020 to 2021. An average data breach costs organizations $3.92 million. Several consequences arise from falling victim to a phishing attack, including:
Type | Description |
Emails appear to be from a trusted source and often demand sensitive information, such as login credentials or financial details. | |
Spear | Spear phishing is a malicious, spoofed email that seems to come from the target’s own company, generally someone in a position of authority or someone the target knows personally. |
Whaling | The attacker tailors the communication with people working for their target, often encouraging them to transfer funds or give up other important information. |
Pharming | The attacker aims to get someone to enter personal information into the fake mirror website to gain further access. |
Vishing | A scam that often takes place over the phone, email, or through voice-over-internet protocol calls. |
Smishing | A scam that often takes place through text messaging. |
CEO Fraud or Impersonation | The attacker will use an email address familiar to the victim and urgently ask them to update employee details, transfer funds, or buy gift cards. |
Session Hijacking | The attacker steals confidential information from a company’s web server. |
Malware | The attacker includes malicious attachments in a phishing email, and when the recipient clicks, the malicious software downloads to the user's computer unknowingly. |
The first step in protecting yourself from these attacks is to recognize common signs:
Keep your personal data and business secure using the tips outlined in this article. And remember, cybersecurity is everyone's responsibility, so communicate the importance of staying vigilant with your teams. Requiring training in your learning management system can be a great way to educate your teams with the knowledge and skills needed to defend themselves and your organization against cyber threats.
Safeguarding data is a top priority at Paylocity. We maintain a proactive stance through our decision-making processes, technology, product offerings, and infrastructure, all aimed at maintaining vigilance in safeguarding information integrity. Read more about how we protect our clients here.