Morrisec: Phishing Emails 

 

Phishing has historically been a significant problem due to how effective it can be in causing major issues for corporations, with minimal effort, complexity or funding. Individuals, specifically employees, are often targeted in phishing attacks as they are an accessible pathway to breaking the first line of defence, giving attackers access to sensitive data. In 2022, it was reported that phishing emails were the most common vector for phishing attacks with 83% of companies having experienced an attack in 2021. Three commonly used tactics in phishing emails are malicious attachments, web links and fraudulent data entry forms.

 

Most commonly, phishing emails ask the user to follow a link that will take the user to a fraudulent site, often presented as a legitimate site. The user will often be asked to provide a set of personal credentials, which the attackers can collect and use against the individual for future breaches and financial gain. Victims exposed to phishing emails have an increased risk of malware infection, identity theft or data loss if the phishing attack is successful.

 

To detect a breach, the burden is mainly upon the user to identify fraudulent cues. Fraudulent emails often contain spelling or grammatical errors, poorly transferred logos, unprofessional layouts, a sense of urgency, simple subject lines, emails that don’t match the sender, incorrect domain names or, requests for personal details, credentials or log in details.

 

 

Phishing attacks pose a significant threat with consequences ranging from financial loss to identity theft. Cybercriminals often target personally identifiable information including credit card numbers, financial account information, tax and medical records, and business information relating to data and customer details. Furthermore, phishing attacks can also hold implications for a company's brand and reputation. A breach can result in a loss of trust by clients, loss in revenue and a degradation in internal confidence by employees which in turn impacts the overall integrity of a business. Lastly, successful phishing attacks can also impact employees personally and psychologically, especially if their actions result in a breach.

 

Phishing attack mitigation should be implemented in multiple forms to best protect against all stages of an attack. One recommendation is using technology controls such as spam filters and anti-phishing software that scan email content and URLs. Secondly, regular software updates and two-factor authentication will assist as a layer of defence against initial attacks. The last countermeasure and perhaps the most important is regular participation in security awareness training for users. Successful phishing attacks largely rely on human error so it is important for companies and organisations to focus on improving cyber literacy to combat a lack of awareness.