Phishing Scams: How to Spot Them and Protect Yourself Online

The internet has made our lives so easy, but it has also opened up ways for cybercriminals. Among the most common threats online are phishing scams. They trick you into giving personal information like passwords, credit card details, or bank account numbers. In a report, APWG reported that in 2023 alone, more than 5 million unique phishing attacks took place making it a record year for such attacks. Understanding how to spot and avoid phishing scams is crucial in these digital times.

What is a Phishing Scam?

Phishing scams are fraudulent activities whereby someone poses as a person of great trust in order to gather confidential information. They largely come in the form of emails, messages, and fake websites that look very much like existing authentic websites. These may be e-mails that say, for example, that your bank needs to confirm your account and contain a link they expect you to click. Most of the time, this brings you to a fake website set up to phish your login information. The intent of phishing attacks is to trick users into giving up sensitive information to commit financial theft or identity fraud.

The Growing Threat of Phishing

Scammers who use phishing attacks have gained significant attention on the world platform. According to the 2023 Internet Crime Report from the FBI, loss due to phishing resulted in over 18 million in USA alone in 2023. Furthermore, the 2023 report estimated 75 phishing sites were created each minute. More than 23% of the attacks were targeted towards the Financial Services, Healthcare, and IT sectors. These statistics go to drive home the awareness and proactive measures that must be taken to keep yourself safe.

Identifying the Signs of a Phishing Scam

A survey conducted by Google found that 45% of individuals cannot confidently identify a phishing email.

So how to identify a fake text message or scam email?
Detecting phishing scams requires vigilance. The most common indications of phishing scams include an unusual sender address. Legitimate organizations use official email domains like @bankname.com, whereas spam email sender use fake addresses or generic domains like @gmail.com or slightly altered versions such as @bnakname.com. In the same manner, emails or texts that contain general salutations like “Dear Customer” instead of your name are good spam text messages examples as they raise a lot of suspicion since a company will normally personalize its letters.

These phishing messages try to invoke urgencies, such as “You have been hacked” or “Your account will be suspended if you fail to take action within the next 24 hours.” Most of them contain grammatical mistakes and some contain very ill phrasing. Professional organizations rarely have bad grammar. Hovering-but-not-clicking over links sometime shows suspicious URL; attachments which were unexpected are looked at with a wary eye because of malware they may host. The prizes or claims that are just too good to be true-classic phishing. Scams like these appeal to curiosity and greed as a means to get people to click on links or disclose personal information. The Wire reports that many real-life phishing scams have targeted Indians through “Digital Arrests.” The fraudsters impersonated policemen and called users to scare them by saying that they have been digitally arrested and ask for money so that they can settle these arrests. Thousands of people fell into the trap and were collectively robbed of over ₹1616 crore. It is important to know that there is no concept of digital arrest in Indian law. This is a good example of why it is important to verify whether or not the calls or emails we receive are genuine before acting upon it.

How to Prevent Cyber Attacks & Phishing

With a few proactive steps, the risk of falling prey to a phishing scam can be considerably reduced. First and foremost, 2FA is required. Even in cases where the scammer manages to get your password, he will require a secondary code sent to your device to access your account. The second critical tool is antivirus software, which is able to find and block phishing attempts.

So, what’s a good way to keep personal information private online?

Try to avoid accessing sensitive accounts via public Wi-Fi; these are susceptible to interception. If you have to use public Wi-Fi, use a VPN as it secures your browsing. Always verify the veracity of emails, most especially those asking for sensitive information, by contacting the organization directly using official contact details. Equally important is education to yourself and your family. Children and older individuals are the most targeted victims for phishing. Security browser extensions add extra security by warning about suspect sites. Regularly monitoring your financial statements can also provide the opportunity to catch unauthorized transactions early. Be wary of shortened URLs, as these may mask the actual malicious link. Tools that expand shortened URLs can help verify where it is actually going to take you. Finally, report phishing attempts to authorities. In India, for example, phishing can be reported through the Cyber Crime Reporting Portal: cybercrime.gov.in. While in the USA this can be done via The Internet Crime Complaint Center (IC3).

What to Do If You Fall for a Phishing Scam?

In the event of falling for one of these phishing scams, you should take immediate action. Change the passwords of all accounts with which the compromised information is used. Then call your bank to block any unauthorized transactions and secure your accounts. Using trusted antivirus software, scan for malware on your devices, removing any threats found. Keep a close watch on all your financial accounts for unusual activities and report the incident to your local cybercrime cell or via cybercrime reporting portals.

Conclusion

Phishing scams are a continuously evolving crime, and the best way to protect yourself and loved ones is to be well-informed and take the necessary preventive steps. The bad guys rely on human mistakes, so the best arms against them are vigilance and caution. Give every action a second thought: Don’t click on links that you’re not sure about or look shady. Don’t give away sensitive information to anyone without being double sure. With proper knowledge and tools, it is easy to be both safe and confident in your digital travels.

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