By: Cheryl Tan|
11 Nov 2020
Covid-19 has accelerated the digital transformation of many business sectors. This has led to an increasing number of businesses adopting new technologies and utilising online business strategies.
As a result, with more people online than ever before, the internet has become even more susceptible to cyberattacks and online scams. Cyberthieves thrive on the lack of awareness of netizens so their actions often go unnoticed until it is too late.
In this article, we touch on the most common online scam today, Phishing. We explain what constitutes phishing, how to identify it and how to protect yourself against it. If you or your company are victims of phishing, we share useful tips to minimise the damaged.
Derived from the word “fish”, the name suggests an angler throwing a baited hook into the sea (phishing email) then waiting for someone to take the bait.Phishing is a type of online scam where victims are contacted by email, telephone or text messages by attackers posing as legitimate businesses or institutions. The attackers will try to trick a potential victim into entering personal information such as banking credentials, addresses or even passwords.
The information retrieved will be used to access important accounts or information which can result in identity theft and often, financial losses.
Lucrative offers or attractive statements are designed to entice people immediately. For example, do not open emails which state that you have won a luxurious prize.
Always hover over the URL to check the link that you will be directed to, most of the time, the links are manipulated in a way where it looks real at once glance. Take a look at this link, www.bankofarnerica.com – it does not look wrong at once glance right? However, the ‘m’ is actually an ‘r’ and an ‘n’.
Most phishing email senders will choose to impersonate a reputable company for credibility. For instance, an email from Netflix saying that your subscription has ended and to log in to your account to continue the subscription. Do not enter your details without checking with Netflix first!
Do not panic and follow these step by step precautionary actions in order to minimise the damage.
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