Page 21 - Banking Finance July 2024

ARTICLE

PHISHING- A SOCIAL

ENGINEERING

TECHNIQUE AND

WAYS TO DEAL

WITH IT

I n this era, where we are in a world which can't be deceive people. The term phishing dates back at least 25

imagined without use of technology in all facets of
years to the days when AOL was a big internet service
banking, the biggest challenge that needs to be
provider. Some users would pretend to be AOL staff in chat
addressed is various social engineering techniques
credit card numbers. This was sometimes referred to as
used with mala fide intention, which costs people their hard rooms and trick other users into sharing passwords and
earned money. There are various ways in which social fishing for information (i.e. phishing).The first use of the
engineering techniques are used to cheat people like term phishing seems to be from a hacker called Koceilah
phishing, baiting, spoofing etc. Rekouche, who developed an automated tool for tricking
users in 1995. As a nod to the existing term phreaking, which
Phishing related to people who played with, reverse engineered and
hacked the telephone network, he called this automated
As the word phishing sounds as fishing, the meaning can be fishing, or phishing.
derived from that. In fishing as one attempt to catch fish
from water by luring fish by some curious item , similarly in Phishing is a cybercrime in which a target or multiple targets
phishing a scamster try to lure the prospect victim over e- are contacted by email, telephone or text message by
mail , call etc. Phishing is one of the various social someone posing as a legitimate institution to lure individuals
engineering technique used by cyber criminals to trick and into providing personally sensitive data such as personally
identifiable information, banking and credit card details, and
passwords or may be a PIN of the card. The information is
then used to access important accounts and can result in
identity theft and financial loss.

Some of the common feature of phishing mails
are-
1) Catchy Subject Lines - Phishing campaigns typically aim

BANKING FINANCE | JULY | 2024 | 19