Page 23 - Banking Finance July 2024

ARTICLE

From there, the employees are asked to fill out a poll about calls a phone number and creates a heightened sense of
when a good time to reschedule would be via a link. That link urgency that makes a person take an action against their
will then bring the victim to a spoof login page may be likes best interests. These calls normally occur around stressful
of Office 365 or Microsoft Outlook. Once they have entered times. For example, many people receive fake phone calls
their login information, the scammers steal their password. from people purporting to be the Banker or from bank's call
centre, indicating that they want to renew their credit or
Types of Phishing debit card ,which is going to expire and need card number,
PIN and OTP sent on mobile. Because the call creates a
Email Phishing
sense of panic and urgency, the recipient can be tricked into
Malicious actors send emails to users impersonating a known
giving away personal information.
brand, leverage social engineering tactics to create a
heightened sense of urgency and then lead people to click Smishing
on a link or download an asset.
The word is derived from SMS+PHISHING, which indicates
it is phishing done using SMS as mode of deceiving. Smishing
The links traditionally go to malicious websites that either
steal credentials or install malicious code, known as malware, is type of phishing where someone tries to trick you into
on a user's device. The downloads or the link sent by email, giving them your private information via a text or SMS
have malicious content stored in them that installs the message.
malware once the user opens the document.
Smishing is a social engineering technique where fraudster
For example, If you Ever get an email message from your asks you to share your personal information. This tactic
bank warning you that your savings and checking accounts leverages your trust in order to obtain your information. The
have been locked because of suspicious withdrawals. That information a smisher is looking for can be anything from
email might ask you to click on a link embedded in the an online password to your Social Security Number to your
message to verify your identity and keep your account open. credit card information. Once the smisher has that, they
often start applying for new credit in your name. That's
Don't fall for this trick. The odds are always there that the where you're really going to start running into problems.
email is an example of phishing, an attempt by scammers Smishing is basically sending texts that request a person take
to trick you into providing personal or financial information an action. Most Often, the text will include a link that, when
that they can then use to steal money from your bank clicked, installs malware on the user's device.
accounts, make fraudulent purchases with your credit cards.
If you do click on a link in a phishing email, you'll usually be For example- Most of the common Smishing attack uses
taken to a new web page that looks like it belongs to your brand names with links purported to be to the brand's site.
bank or Credit Card Company. That page will ask you for your Usually, an attacker will tell the user that they've won money
personal and financial information - maybe your account or provide a malicious link purported to be for tracking
numbers or log in credentials, like your username and packages. The link typically points to a site hosting malware
password. Once the scammer behind this fake or bogus page or prompts the user to log in to their account. The
gets that sensitive personal information of yours, and then authentication page is not on the official site, but it's more
they can easily access your financial accounts. difficult to see the full URL on a Smartphone browser, and
many users won't bother checking. Smishing attackers use
Phishing is a form of social engineering - phishers pose as a a message that a user might be expecting. Others lure
trusted organization to trick you into providing information.. victims with promises of prize money if they enter private
Remember, your bank or credit card provider will never ask information.
you to provide account information online. When an email
seeks such sort of information, it clearly indicates the sign Spear Phishing -
of being sent for scams. Spear phishing is a campaign that was purposefully built by
a threat actor with a goal of penetrating one organization,
Vishing and where they will really research names and roles within
Voice phishing, or "Vishing," happens when a cybercriminal a company. Some targeted campaigns involve documents

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