How Phishing Email Meaning Can Save You Time, Stress, And Money

India witnessed a whopping rise of 80% in online transactions during 2020, thanks to increasing dependency on the cash-less payment system. While Indians are gradually becoming card-savvy, a new danger of online scams is lurking at the corner. Among several types of fraudulent online activities, phishing is the one that is leading the growth of cybercrime in India. 

• India’s cybersecurity chief reported that almost 375 cyber-attacks were registered each day in 2020.
• Indian Computer Emergency Response Team (CERT-In) added that 194 phishing attacks were reported from January to August 2020.

Experts suggest education about the phishing meaning and how it works is one of the more effective ways to avoid falling victim to this cybersecurity threat. 

What is phishing?

It is a cybercrime where hackers or fraudsters contact a target through email, text message, or phone call under a legitimate source’s disguise. They entice the target to share personal information and account details, credit card details, passwords, etc. The collected information is then used to access a secured account, leading to identity theft and financial loss.  

Some standard features of a phishing email or message that individuals need to know are mentioned below. 

• Generally, these are lucrative offers that are too hard to believe and catch the victim’s attention. For instance, one can come across a message that says ‘You have won a prize of Rs. 1 crore’.
• It also carries a sense of urgency. For instance, it tells that the offer is for a limited period, or the account will be closed permanently if the payment is not made.
• These emails or messages contain links that take one to a fake website. Generally, the URL of the fake website’s URL matches to that of some popular website with slightly modified spelling.
• In case you get an email containing an irrelevant attachment, avoid opening it. More likely, these contain malware or virus.
• The sender of the email seems suspicious or unknown to you or comes out of nowhere.

Besides these standard specifications, the attackers devise different types of phishing to target varied base of individuals. 

Types of phishing 

Following are some of the common types of phishing known to cyber experts. 

1. Spear phishing

Through this process, a specific group of individuals is targeted. These are generally sent from seemingly trusted sources to specific groups like individuals belonging to a particular organisation or team.  

• Spear phishing constitutes 72% of all cyber-attacks in India.

1. Whaling

It slightly differs from spearing because the target groups are generally influential personalities, like CEOs, directors of companies, and the sorts. 

1. Smishing

This particular attack is carried out via SMS or text messages containing a call to action from a dependable source. For instance, the message may seem like it’s been sent by a reputed financial institution, telling you to share account details to keep your account up-to-date. 

1. Email phishing

It is one of the most common types of phishing where the hackers send emails to multiple email addresses and compel the users to click on the link provided. Once, they click on it, the personal information and other sensitive data reach the hackers. It can result in identity theft and monetary loss. 

Individuals can consider availing an Identity Assure insurance plan that covers the legal costs incurred due to identity theft. 

1. Search engine phishing

With more individuals becoming active in search engines like Google, hackers employ spoof platforms to cheat individuals. It is also known as SEO poisoning or SEO Trojans where once a user lands in such a fake website, the information users share are stored. 

The victims can secure coverage of the financial loss caused due to these phishing attacks by opting for products like Cyber Security Insurance Cover. 

Along with knowing the phishing meaning and its type, individuals also need to take precautionary measures to avoid these scams. 

How to prevent phishing attacks? 

• Cyber experts advise accepting the software update that comes with latest security configuration.
• Change your default passwords from time-to-time.
• Opt for two-factor authentication for logging into vital accounts.
• Refrain from sharing sensitive data over email.
• Try not to respond to emails that come from an unknown source.
• Make payments only on websites with high-credibility.

Besides following these tips, individuals can ensure improved cybersecurity by opting for Pocket Insurance & Subscriptions like the Wallet Care policy from Bajaj Finserv. This policy also accompanies complementary fraud protection facility that covers the financial obligations arising from these phishing attacks. 

Knowing what phishing means and the processes fraudsters employ to those ends is valuable. This way, you can use payment cards offline and online while ensuring you are steering clear of possible threats.