Phish-Pharming: Don’t Fall For The Bait!

When scammers go phishing, they send out fake emails to businesses. At a first glimpse, they seem like genuine messages from trustworthy companies. It’s not until after you’re tricked into providing your personal information when you realise you’ve been hooked and reeled in by the scammer! In a similar vein to phishing, a lot of businesses also fall victim to a discreeter form of attack called pharming. Pharming is substantially more difficult to detect. Unlike phishing, the bait isn’t via email, but directs the unaware victim to a fake website. This occurs even when the correct web address is entered too!

 
Because this threat is so hard to spot, users are therefore more likely to fall for the bait and give away their sensitive information – like bank account details – for the scammer to further exploit. To carry out the pharming, a pharmer needs access to your computer. This can be accomplished by the installation of malicious software or a security breach in the server which your computer is connected to.

 

Statistics of Phishing

Source: Tripwire

This chart shows the significant rise of phishing and pharming cases from 2016-2017, where an unlucky 49% of companies suffered a phish attack, followed up with a malware infection. What is more, businesses also detected accounts which had been breached and data which had been lost at 38% and 13% respectively. These statistics alone are evidence as to why people need to implement cyber security software into their businesses!

 

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