Phishing Attacks in Different Industries: A Comprehensive Overview
Phishing attacks have become a widespread cybersecurity threat, affecting organisations across all industries. These attacks involve tricking individuals into revealing sensitive information, often through deceptive emails or websites.
The Evolution of Phishing Awareness Training
Phishing awareness training has evolved as hacking and phishing have grown in complexity.
Vishing (Voice Phishing): The Growing Threat and How to Protect Yourself
Learn about vishing, a type of voice phishing scam where fraudsters use phone calls to steal personal information. Discover how to protect yourself from vishing scams and stay informed with the latest cybersecurity tips to prevent fraud.
The Anatomy of a Phishing Email: How to Spot Red Flags and Stay Safe
To protect your organisation from ransomware and phishing attacks, it is important to know the anatomy of a phishing email. Read our blog to know more!
Safeguarding Against Quishing: Strategies for Enhanced Cybersecurity
Explore effective strategies to secure your business from QR code phishing attacks, strengthen email security and implement robust cybersecurity measures.
Strengthening Microsoft 365 Security with Topsec Inbox Protect
Strengthening O365 with Topsec Inbox Protect We know having just one layer of O365 protection is not enough to secure your organisation. Get a Quote Download Datasheet Email Security > Strengthening Microsoft 365 Security with Topsec Inbox Protect With over 250 million monthly users, Microsoft 365 is a cornerstone of enterprise productivity. However, its popularity also makes it a prime target for cybercriminals. This article discusses the critical need for enhanced security in Microsoft 365 and introduces Topsec Inbox Protect as a formidable solution to these vulnerabilities. By Cian Fitzpatrick | 15th December 2023 Microsoft 365 Security Concerns The vast user base of Microsoft 365 encompasses a significant amount of sensitive data, which attracts malicious actors. Common security concerns include: Privilege Escalation Attackers gaining unauthorised system access. To mitigate this, implement role-based security controls, regular updates, multi-factor authentication, and privileged access monitoring. Bypassing Multi-factor Authentication Attackers may circumvent MFA, making it essential to use advanced MFA techniques, limit authentication attempts, and educate employees on phishing risks. Phishing Attacks Up to 20% of phishing emails evade detection by Microsoft 365’s defences, necessitating employee education, spam filters, and phishing simulations. Malicious Macro Disabling macros by default and using anti-malware software can prevent the execution of malicious code. Data Exfiltration To combat this, use DLP solutions, encryption, firewalls and educate employees on data security. Stay a step ahead of malicious actors Get Quote Topsec Inbox Protect: Fortifying Internal Emails Topsec Inbox Protect emerges as a vital layer of defence, specifically enhancing the security of internal emails in Microsoft 365 environments. How Topsec Inbox Protect Enhances Microsoft 365: Advanced Internal Mail Scanning Upon receipt of new internal mail, Inbox Protect performs rigorous security checks, quarantining any suspicious content. Comprehensive Threat Protection It addresses phishing, malware, ransomware, business email compromise, spam and unauthorised access. Dual-Defense Strategy When combined with Microsoft 365, it creates a two-pronged defence system, significantly enhancing overall email security. Ease of Use With a simple setup process, Inbox Protect starts securing historical emails within 14 days of integration. Key Benefits Enhanced Email Security Provides additional protection against a wide range of digital threats. Reduced Risk Lowers the chances of data breaches and unauthorised access. Improved Compliance Aligns with regulatory requirements, enhancing the organisation’s compliance posture. Learn how you can protect your staff Contact Us Conclusion In today’s digital landscape, relying solely on Microsoft 365’s inherent security features is insufficient. Topsec Inbox Protect offers an essential additional layer of security, particularly for internal email communication. By integrating this solution, organisations can significantly bolster their defences against a variety of cyber threats, ensuring a more secure and resilient digital environment. Secure your Microsoft 365 environment with Topsec Inbox Protect. Get a Quote for your Topsec Inbox Protect Free Trial and enhance your email security today!
Navigating the Quishing Threat: A Comprehensive Guide for Businesses
Unmasking Quishing: Decoding QR Code Phishing Quishing attacks are on the rise in business emails, know what to spot and how Get a Quote Download Datasheet Email Security > Phishing Unmasking Quishing: Decoding QR Code Phishing in the Modern Business World The integration of digital technologies into business operations has opened new avenues for convenience and efficiency. Quick Response (QR) codes stand out as a remarkable innovation in this regard. These square boxes filled with unfathomable squiggles simplifies access to information like never before. However, their rising popularity also brings to the forefront a new type of cyber threat: quishing, or QR code phishing. And the number one entry way for a quicking attack to bombard your organisation? Through your emails. (91% of all cyber attacks are through email.) By Cian Fitzpatrick | 6th December 2023 Deciphering Quishing: An In-Depth Look What Exactly is Quishing? Quishing is a cyberattack where QR codes are weaponised to execute phishing scams. This technique combines the ubiquity of QR codes with deceptive tactics to trick users into revealing sensitive personal and financial information. The Operational Dynamics of Quishing Quishing scams typically involve the creation and dissemination of fraudulent QR codes. These codes are strategically placed to replace or overlay genuine QR codes in public or business settings. When unsuspecting individuals scan these codes, they are redirected to counterfeit websites. These sites, designed to mimic legitimate ones, are traps for unwary users to enter their confidential data. Quishing in the Real World: Examining Case Studies Case Study: Quishing in Retail and Public Spaces One notable instance of quishing occurred in a retail environment where scammers replaced the QR codes on payment terminals with their counterfeit versions. Customers, intending to make payments, were instead led to fake payment portals, resulting in the theft of their credit card details. Case Study: Quishing in Corporate Environments In another case, a corporate office witnessed a quishing attack through seemingly harmless QR codes placed in its cafeteria. These codes, purportedly for accessing the daily menu, redirected employees to a phishing site that asked for their corporate login credentials. The Technical Mechanism: How Hackers Exploit QR Codes Hackers use QR codes as a medium to direct victims to phishing sites, cleverly camouflaging their malicious intent. These codes are strategically placed in locations with high foot traffic or within organisations, making them appear as legitimate parts of the infrastructure. The Hidden Perils of Quishing The subtlety of quishing lies in its ability to blend in with the everyday use of QR codes, making detection challenging. The delay in recognizing a quishing attack exacerbates its impact, as the stolen data can be exploited long before the breach is identified. Stay a step ahead of malicious actors Get Quote Fortifying Defences: Business Strategies Against Quishing Comprehensive Strategies for Business Protection 1.Enhanced Employee Awareness Regular workshops and training sessions to educate employees about the nuances of quishing. 2.Advanced QR Code Security Employing QR codes with enhanced security features like encryption and tracking to prevent unauthorised alterations. 3.In-depth Cybersecurity Protocols Implementing advanced cybersecurity solutions, including next-generation anti-malware and anti-phishing systems. 4.Proactive Monitoring and Response Establishing a robust monitoring mechanism to detect and respond to any signs of quishing promptly. 5.Selective and Mindful QR Code Utilisation Encouraging a culture of cautious QR code usage, where employees verify the source before scanning. Building a Quishing-Resilient Business Environment In the digital age, staying ahead of cyber threats like quishing is imperative for business security. By understanding the mechanics of quishing, staying alert to its manifestations, employing robust cybersecurity measures, and fostering a culture of awareness and vigilance, businesses can effectively shield themselves from these sophisticated attacks. The fight against quishing is not just about technological solutions. It’s equally about cultivating an informed and cautious digital environment. Contact Topsec today to fortify your organisation’s email security. Our client case studies illustrate the care and commitment we bring to our work. Our team will do this for your organisation too. Learn how you can protect your staff Contact Us
What is Spear Phishing?
What is Spear Phishing? It is considered to be the most potent form of attack, learn how you can prevent these attacks. Get a Quote Download Datasheet Email Security >Phishing What is Spear Phishing? Among different cyberattacks, spear phishing poses the most potent threat. Unlike standard “Spray and Pray” phishing, spear phishing is a highly targeted and deceptive form of attack. It integrates sophisticated social engineering techniques, often going unnoticed by its target. In addition, according to Symantec’s Internet Security Threat Report(ISTR), 65% of attackers relied on spear phishing attacks. So, it’s highly important to understand what spear phishing is to create a protective shield against it. By Cian Fitzpatrick | 16th November, 2023 Spear Phishing Definition Spear phishing is a type of phishing attack that targets highly specific individuals or roles within an organisation to acquire sensitive information. Spear phishing is much more effective than a standard phishing attack. The attacker does intensive research on their target and uses social engineering techniques to craft a message to make it seem to be from a legitimate source. For instance, they collect personal information about a target and send messages disguising themself as a trustworthy friend to acquire sensitive information. Types of Spear Phishing Attacks Some of the major spear phishing types are: 1. Whaling Phishing It is a highly targeted attack that targets high-profile or high-ranking individuals such as C-suite executives or board members. It also involves non-corporate targets such as celebrities or politicians. Attackers aim to fetch large sums of cash or acquire confidential information that can be used against them—no wonder it requires more research than any other form of spear phishing attacks. 2. Business Email Compromise(BEC) CEO Fraud The threat actors impersonate or hack into the email account of a senior executive, typically a CEO. And instruct lower-level employees to wire money into fraudulent accounts by creating a sense of urgency to make them act abruptly. Email Account Compromise(EAC) Attackers gain access to lower-level employees to send fraudulent emails and trick other employees into sharing confidential information. EAC is often used to acquire the credentials of senior executives to perform CEO fraud. Barrel Phishing It is a phishing attack where scammers send emails to a large number of recipients, pretending to be from a legitimate source. The scammers anticipate that at least one recipient will click on the link to steal sensitive information. Try Our Phishing Simulator Now Get Quote How Does Spear Phishing Attack Work? Spear phishing attack works in various stages; they are: Selection of Target Scammers choose individuals or organisations they want to target based on their goals, whether their goal is to gain large sums of money or sensitive information. Use of Reconnaissance Technique Before commencing the attack, the scammer gathers detailed information about the victim using social media platforms. Crafting Email By using gathered information, scammers craft a personalised email to make it look as if it’s from a legitimate source. This causes the target to immediately lower their guard. For instance, it could be a coworker, manager, or a trustworthy friend of the target. Call to Action Fraudulent emails often have a call to action to create a sense of urgency to ensure the attack works 100% of the time. In the heat of the moment, the target will click the link or download an attachment. This action can lead to serious consequences, including identity theft, data breaches, ransomware attacks, corporate espionage, etc. Covering Footprints After the attack, the scammer removes every trace of the attack to evade detection and prolongs access to the system. Common Targets of Spear Phishing Attacks Spear phishing attacks involve detailed research of a high-value or high-profile individual. Even though they are often time-consuming, they yield a higher anticipated reward than standard phishing attacks. Commonly targeted individuals of spear phishing attacks are: High profile individual Scammers target high-profile individuals like CEOs, politicians or celebrities to steal their sensitive information. Lower-level or New Employees Lower-level or newer employees often fall victim to phishing attacks, as they are frequently unaware of policies or procedures they must follow to prevent spear phishing attempts. Specific Group or Types of Employees Scammers target employees with access to sensitive or confidential information, such as HR or finance executives. Learn how you can protect your staff Contact Us Spear Phishing Characteristics Some of the characteristics of spear phishing are: Targeted Recipients Spear phishing employs highly personalised messages to target specific individuals or organisations. These messages focus on high-profile or high-value individuals, promising substantial rewards. Spear phishing targets specific individuals, unlike standard phishing, which targets a high volume of individuals. Personalised Messages Scammers on various social media platforms conduct intensive research on their targets to formulate emails that create a sense of familiarity, often leading to the disclosure of sensitive information. Sophisticated Tactics and Techniques Scammers use reconnaissance and social engineering techniques to carry out spear phishing attacks. The reconnaissance technique involves intensive gathering of information on a target. At the same time, social engineering techniques involve the manipulation of personality traits to make the target perform a certain action. Common Objectives Spear phishing takes on various forms, but the goal remains the same: extracting sensitive information such as credentials or credit card information. Links to Malicious Websites or Files Scammers use phishing emails, which include links to malicious websites or files created by threat actors, to extract sensitive information when recipients click on them. Common Techniques Used in Spear Phishing Attacks Some of the characteristics of spear phishing are: Social Engineering Techniques Spear phishing attacks thrive on social engineering techniques. They manipulate personality traits such as desire to be helpful or curiosity about events or news. Individuals let their guard down easily with this technique, enabling threat actors to leverage the situation to extract sensitive information. Suspicious Emails and Phone Calls Attackers, using generic or misspelt domains in their emails, disguise themselves as legitimate entities to reach out to their targets through emails and phone calls. Malicious Emails with Attachments or Links
What is Smishing? A Complete Guide
What is Smishing? A Complete Guide Malicious actors are using Smishing techniques to disguise themselves as reputable companies. Get a Quote Download Datasheet Phishing > Smishing What is Smishing? A Complete Guide Smishing is a type of phishing cybercrime where mobile text messages are used as bait. Also called SMS phishing, hackers use mobile SMS to disguise themselves as reputable companies, then trick the user into sharing personal information like passwords and credit card numbers. By Cian Fitzpatrick | May 29, 2023 Smishing is similar to phishing, with the only difference being that smishing uses mobile phone SMS and phishing uses email attachments. Cybercriminals deceive the targeted victim by sending an attractive text. The compelling message tempts the victim to click the link sent by the scammer. That link either shares private information from the target’s smartphone or instals malicious software inside the victim’s phone. How does Smishing Work? Cybercriminals send a mobile text message in the name of someone credible about a lucrative offer. The compelling message realistically impersonates a reputable organisation and lures the victim to comply and follow the hacker’s instructions. The hackers send you a malicious link as part of the process. Once downloaded on users’ phones, the link fetches the user’s personal information, like passwords and credit card numbers. Sometimes, the link is also used for ransomware attempts. Once the hackers get access to your phone, they might hold the confidential information inside that phone as ransom. Types of Smishing Attacks Smishing attacks come in different, misleading forms. These targeted attacks aim to trick users into believing that the SMS text is sent from a reliable source. The decoy sounds realistic and tempting for normal users, luring them into the trap. Below are a few examples of the most recurring smishing attacks: COVID-19 Smishing Hackers use smishing techniques to catch users off guard and in their most vulnerable situations. Covid-19 Smishing occurred during the desperate coronavirus outbreak of 2019. The pandemic created a chaotic environment for everyone, and the concerned health or government authorities were desperate to pass and receive communications. The distressing environment was such that people consequently followed any instructions that seemed logical and valid. Hackers used the vulnerable situation and sent SMS messages in the names of government health officials, asking to download links for surveys or breaking news. Gift Smishing Gift smishing is yet another prominent smishing trick. It comes in the form of free offers of services or products from popular stores or trusted companies. These offers could be in the form of contest prizes, shopping rewards, or other attractive giveaways. Hackers take advantage of the idea of getting something for free to make you act quickly without thinking. They might create a sense of urgency by giving you a limited response time or claiming that you’ve been specially chosen for a free gift card. Financial Services Smishing Smishing scams also involve sending fake messages resembling notifications from banks or financial institutions. These messages deceive people using banking and credit card services, whether generic or targeted to a specific institution. These smishing attacks frequently include scams related to loans and investments. The attackers pose as a bank or financial institution to gain trust but aim to commit financial fraud. Warning signs of a smishing scam in the financial services category include urgent requests to unlock your account or verify suspicious account activity. Customer Support Smishing A support-based smishing scam includes receiving messages about billing problems, difficulties accessing your account, unusual activity on your account, or promises to address a recent customer complaint. The scammers impersonate helpful representatives from reputable companies like Apple, Google, or Amazon and claim an issue with your account. They provide instructions to resolve it, which are as simple as clicking on a fake login page or as complex as providing a genuine account recovery code to reset your password. Invoice and Order Confirmation Smishing Confirmation smishing scams users with fake confirmations for a recent purchase or bill related to a service. The scammers might send a link to make you curious or anxious about potential charges, pushing you to act quickly. Avoid Falling Into Smishing Traps. Contact Topsec today to secure your valuable information Click Here Statistics on the Number of People Affected by Smishing Attacks Consumer Reports states that the FTC logged 378,119 complaints in 2021 related to fraudulent activities through unwanted text messages, including smishing attempts. This represents a higher number than the 332,000 complaints received in 2020, indicating increased unwanted texts and smishing incidents. According to a CNET report in 2020, Smishing made up a significant portion of reported fraud cases, representing 21% of all instances. According to KCRA, in 2021, out of the total 87.8 billion scam texts sent, more than 5.6 billion were spam texts that falsely claimed to offer free COVID-19 tests. According to Robokiller’s 2022 Insights & Analysis, cybercriminals who engaged in smishing successfully stole an alarming $20.6 billion (USD) from Americans in 2022. This amount reflects a substantial 105% increase compared to the $10 billion reported in the previous year, underscoring the growing magnitude of the issue. OpSec Security reports that in 2020, smishing scams led to Americans losing more than $50 million (USD), as stated by the FBI. Moreover, there was a remarkable 700% surge in the number of scam text messages reported to authorities during the first half of 2021. According to the Office for National Statistics (ONS), adults between the ages of 25 and 44 are the most susceptible to receiving Smishing. According to Robokiller’s 2022 Insights & Analysis, cybercriminals who engaged in smishing successfully stole an alarming $20.6 billion (USD) from Americans in 2022. AARP highlights that smishing fraud plays a significant role in its impact on mental health. Individuals targeted by any type of fraud often face various mental health difficulties. Specifically, victims of smishing schemes commonly encounter negative emotions, sleep disorders, post-traumatic stress disorder (PTSD), and depression, underscoring the expected consequences of such incidents.
What is Phishing? A Complete Guide
What is Phishing? A Complete Guide Train your employees to watch out and repport phishing emails. Get a Quote Download Datasheet Email Security What is Phishing? A Complete Guide Phishing is a type of online fraud where attackers use social engineering tactics to trick individuals into sharing sensitive information such as passwords, credit card numbers, or other personal data. Read our blog to best know how to protect yourself from these phishing attacks. By Cian Fitzpatrick | April 13, 2023 Phishing refers to a cybercrime where individuals are contacted through email, phone, or text by individuals posing as credible institutions. The aim is to coax them into sharing sensitive data such as personal information, bank account and credit card details, and passwords. This information is then used to access crucial accounts, potentially causing financial harm and identity theft. Phishing Definition To deceive the victim into clicking on a malicious link, phishing employs impersonating a trustworthy source through email, instant messages, or text messages. This can lead to installing malware, system freezing by a ransomware attack, or revealing confidential data. In addition, cybercriminals use phishing as a means to infiltrate corporate or governmental networks, often as part of a more extensive attack like an advanced persistent threat (APT) event. Hackers override security measures, introduce malware, and acquire privileged access to confidential data by compromising employees. A phishing attack can have severe consequences, including unauthorised purchases, theft of funds, and identity theft. If an organisation is targeted, it can result in significant financial losses, damage to reputation and consumer trust, and a decline in market share. Depending on the extent of the attack, a phishing attempt can escalate into a security incident that can be challenging for a business to recover from. How does Phishing work? Attackers send malicious email messages or other communication methods that resemble legitimate ones. The more the message appears real, the greater the chance of success. The attackers’ goals are usually to obtain personal information or credentials, creating a sense of urgency in the message to make users feel threatened. This manipulative technique leads to the victim’s compliance even to unreasonable demands. Organisations must train staff to recognise the latest phishing tactics; it only takes one person to fall for a phishing attempt and trigger a severe data breach. It is why phishing is considered one of the most challenging and critical threats to mitigate. Dangers of Phishing Personal phishing risks Personal phishing targets individuals through phone calls, emails, or text messages. Attackers pose as trustworthy entities like government agencies, banks, or famous companies to obtain sensitive information like credit card details, usernames, and passwords. This information can be used to steal money or commit identity theft. Personal phishing attacks can devastate individuals as they lack the same level of security as large organisations. Individuals should be cautious of unsolicited messages and regularly update their passwords to protect themselves. Organisational phishing risks Organisational phishing is a cyber attack that targets businesses, governments, and institutions using fake emails, text messages, or phone calls to obtain sensitive information such as login credentials, financial data, or other confidential details. Attackers use this data to steal funds or launch advanced attacks. Phishing attacks can result in severe financial and reputational damage, particularly when involving sensitive data or intellectual property. Organisations must implement robust security measures, including employee training, to reduce the risk of falling prey to these attacks. Common Traits of Phishing Phishing is an illegal technique used to trick individuals into revealing sensitive information. Here are some common indicators of a phishing attempt that you should be aware of to stay safe: Requests for sensitive information Generic greetings or lack of personalisation Spelling or grammatical errors Unofficial or unfamiliar sender information Urgent requests or sense of urgency Unfamiliar or mismatched URLs Suspicious or misleading hyperlinks Threats or scare tactics Requests for immediate action Tempting or too-good-to-be-true offers Protect your business from phishing attacks today by signing up for our Managed Phishing Awareness Training program. Click Here Phishing Attacks: Statistics and Examples The 2022 Cost of Data Breach Report by IBM affirms that data breaches are mostly due to the usage of stolen or compromised credentials. Such credentials were the primary attack method in 19% of breaches this year, a slight decline from 20% in 2021. In 2022, 19% of data breaches were primarily caused by stolen or compromised credentials, showing a small decline from 2021’s 20% statistic. The average cost of breaches resulting from this type of attack was $4.5m, and it took 243 days to detect and 84 days to control, which is 16.6% longer than the average time to identify and manage a data breach. Phishing was the second most frequent cause of data breaches, accounting for 16% of incidents and costing $4.91m. Examples: In August 2022, Acorn Financial Services suffered a security breach when an employee was targeted in a phishing attack. The attackers stole login credentials and accessed sensitive information, including client details. Acorn conducted an investigation and informed affected customers. The breach could have been prevented or minimised with a phishing detection system in place. Twilio experienced a security breach in August 2022. The breach was caused by an SMS phishing attack in which employees were directed to a fake authentication site that looked like Twilio’s real site. The employees unknowingly entered their login credentials on the fake site, which allowed the attackers to gain access to Twilio’s internal resources and customer data. The attackers compromised 93 Authy accounts and potentially exposed 1,900 accounts on the encrypted communication app Signal, but they wouldn’t have been able to access message history or contact lists. Types of Phishing Attacks 1) Spear phishing Spear phishing involves targeting specific individuals in an organisation, typically those with high-level access, through email. This tactic aims to deceive victims into providing confidential information, transferring funds, or downloading malicious software. 2) Business email compromise (BEC) Business email compromise (BEC) involves the perpetrator pretending to be someone the recipient trusts, such as
