Phishing is one of the most common methods that cyber criminals use
for perpetrating fraud and scams on the Internet. This malicious activity
starts with the fraudster obtaining your email address from a hacked email
account,which belongs to one of your contacts or from the compromised website
of an ecommerce business that you patronize. The scammers create a phony
webpage and then sends everyone on the contact list an official-looking email
with a link to the newly created webpage.
What is a Phishing Email?
A phishing email can be a fake message that’s designed to look
like it was sent by your bank, your favorite online shopping site, or by your
email service provider. The content of the email used for phishing fraud and scams is usually a request for an update of your personal details. The reasons
given vary,depending on the institution that the scammer claims to represent.
If it is your email service, you are advised that you have violated some rules
and need to update your login information to avoid having your account
cancelled. If the fraudster claims to be a representative of a bank or an
ecommerce establishment, the reason given for requiring an account update is to
facilitate the completion of transactions that are on hold because of some issues
in your personal file. There are many other variations of phishing emails used
for fraud and scams, but the gist of their messages is that you should update
your personal credentials as early as possible.
Clicking on the link provided in the phishing email leads to a
webpage where you are asked to type in the sensitive information, which you are
requested to send back immediately. When you do this, you become an easy target
of identity theft. Phishing fraud and scams are the most effective tools for
stealing your online credentials, which is what cyber criminals want.
After successfully obtaining your details from phishing fraud and
scams, cyber criminals can charge online purchases to your bank account and
credit cards, and use your compromised email account for perpetrating other
fraudulent online attacks. Early discovery of such identity theft, for example
when your bank makes a verification call for purchases that you have just made
online, prevents the abuse of your credentials. However, if your bank does not
implement verification systems for online purchases and cash transfers, you
will end up losing a lot of money to perpetrators of fraud and scams.
There are some telltale signs to look for, when you receive suspicious emails requesting your personal
credentials. The official logo is usually a poor reproduction of the real
company’s logo, and the contents have some misspelled words and grammatical
errors. Spelling errors and unusual words with symbols in the subject box of
the email and the errors in grammar are the common ways employed by fraudsters
to avoid detection by spam filters and reach your inbox.
By being wary of email links and email attachments and by
installing an efficient spam filter, you can avoid phishing fraud and scams
that prey on unsuspecting Internet users.
