Numerous associations will spend outstanding amounts of money on phishing awareness and comprehension for employees. Appearing as ordinary but proper comprehension of what could be a phishing scam or even re-enacting a phish to test whether the malware has proper comprehension, this is a typical practice at many of today’s organisations.

Ironically, even subsequent to all of this money spent in training, a scarily large number of employees of an organisation might end up clicking a malicious link from a malicious sender and one of the main reasons this occurs is because corporate emails sometimes look like phishers themselves, causing disarray among genuine and malicious emails.

In this topic:

What is Phishing?

Phishing is the deceitful endeavor to acquire an individual or organisation’s personal data, such as usernames, passwords and card details by portraying themselves as a reliable source in electronic correspondence ordinarily completed by email spoofing or texting, it frequently guides clients to enter individual data at websites that intend to be reliable. Phishing is a case of social designing systems being used to delude clients by compromising their data. Clients are frequently baited by communications which imply that they have come from trusted senders, for example, social sites, banks, online payment sites or any sort of trusted IT systems.

How does Phishing occur?

One of the main methods, through which Phishing occurs in large organisations, is through email spoofing. Employees receive emails, which look like their normal corporate correspondence mail and follow through with the required procedures as mentioned in the mail.

According to the Harvard Business Review, the average employee receives, on average, 120 emails per day. There’s constant communication and information overload on the worker, which forces the worker to take up cognitive shortcuts, to keep up with the overload and only process the information which is relevant to him.

So, when skimming through an email, with a large amount of text, this will usually include an URL which the user might click as per request, as this seams to be a reliable source, which puts the company at great risk. Most corporate communications do not have any proper authentication to prove that the email the user has received is reliable, so it’s very likely that employees can be victimised and fell for a phishing scam.

Malicious groups take advantage of human error and poor IT resources to corrupt, rob, or harm the confidential business information. Today no business of any size is immune to these attacks besides anti-phishing training is becoming a mandatory practice in most large organisations, leak of sensitive information as well as losses from business email compromise (BEC) have increased significantly. As a result, losses from such breaches now total more than $3 billion worldwide, an increase of almost 1,300% since January 2015.

Snapchat, the social media app, has recently fallen prey to Phishing, through malicious links and emails. An email was received by an employee, which was a Phishing scam by imitating Snapchat CEO Evan Spiegel. In the email’s content the hacker who was portraying Spiegel asked for the payroll company data of the current employees and ex-employees of Snapchat. Asuming this was a reliable email, the employee divulged the requested sensitive information which was released publicly by the hacker.

Aldough the servers weren’t breached, sensitive data including payroll information and number of employee has been compromised in the scam. Such breaches affect the branding and the company trust, meaning that at this point users are worrying. Sony also faced a similar breach back in 2014, when there was a mega-hack into its computer systems through the method of Phishing through spoof emails.

However, it looks like t this date companies regardless of the size still haven’t learned the importance of cyber security measures. Many companies keep extremely sensitive information pertaining to their clients, employees, business trade secrets in unencrypted form, making it extremely easy for hackers to attack, as they become more sophisticated by remaining undetected, all it takes is one opportunity for them gain access through a malicious email which as great tactic for cybercriminals to get important company data.

How to prevent Phishing attacks

It’s essential to protect tour accounts with two factor authentication as these days passwords are the number one target for cyber actors as with these they can access your sensitive information such as financial data and other confidential information from all sorts, you must make your login process to all of your accounts more resistant to attacks, and in addition limit the number of accounts with this type of access to the minimum.

Anti-phishing training has started to become a must in every company regardless of the size. Many companies are making it a mandatory practice to reduce the threats and cyber-attack risks, however, even with these anti-phishing training and security measures, the cyber threat landscape is becoming a great challenge for businesses of any sector as many businesses still don’t take privacy and security seriously by having a managed service provider.

Effective incident response plans are important as many businesses will experience security risks at some point, it’s critical for your organisation to know what to do in case an incident happens, so that users are aware in how to report and respond to an incident as soon as possible without fear, as it’s important to report potential or actual cyberattacks.

Phishing scams can be difficult to spot, make it mandatory for HR managers to brief new employees about corporate security policies, to check your staff’s preparedness and conduct regular training. Our IT support company in London can effectively train your employees and take care of your IT infrastructure by using the latest technology systems.