Recognize Phishing Attacks and Prevent Yourself With These 6 Tips

You must have received at least one email or SMS or have come across a social media post saying something like, “Your number xxxxx9878 has won $30,000 in the lottery. Click here to claim now.” You want to click on it even if everyone advises you against it, but hope is a primary human emotion and one of the strongest human emotions, making us do some crazy things. Phishing leverages this fallacy of human emotion to dupe innocent people with another one of their cyber attack gimmicks. Phishing attacks are not new. In 2006, Websense Security Labs found that the scammers and cybercriminals are posting phishing posts on the Google SERP. Come today, the Cert-In (nodal agency for cybersecurity in India) has advised that Indians may be the primary target of phishing attacks perpetrated by North Korean cyber criminals.

What is Phishing?

Phishing is a well-planned strategy that lures the target with a fake offer sent via the phone, email, or an SMS. The motive of sending phishing messages is to acquire the user’s personal information. This can be passwords, bank details, credit or debit card numbers, CVV, and even the OTPs to validate a transaction. Phishing attacks have some essential characteristics. Like they will seem too good to be true (the lottery case); impose an urgency (limited time offers); misspelled domain names (bankofarnerica.com); and free software or files (.txt, .apk). Phishing meaning can also be interpreted with excitement and anxiousness to take action before someone else eats the fruit. However, as an informed citizen, take a pledge to not open or engage with any such offer, no matter how legit it may look. Remember that there is no free lunch in this world. Another important reminder would be to explore and acquire cyber insurance .

Types of Phishing Attacks

Hackers and scammers will use many methods and ways to somehow get you to share the required information. Here are some of the ways that you should know about.

1. Credit and Debit Card Emails

These scandalous people send spoof emails that look like they are coming from your bank or the credit card provider. However, authentic emails will only include some promotional offers and simple language. But the phishing emails will create an environment of urgency. So, if you notice some urgent-oriented language in the mail, recheck everything. Plus, open a new tab, open your credit card or bank’s official website and confirm everything from there.

2. Email Phishing

You might receive emails that will ask you to enter your bank account details or update the debit card number to receive a reward. Sometimes, the scammers also send emails from other authentic and reputed financial institutions, like Paytm or PhonePe for any reason that is posited to convince you to share your personal information. The key with these emails is that they are designed meticulously to resemble the format used by the legitimate institutions. These phishing attacks can be used to either let you install malicious software, or access a certain link that will inflict ransomware or a spyware attack on your system.

3. Website Phishing

Lastly, accessing websites and sharing your personal information on these websites is yet another way to get duped by the scammers. When you access a bank’s website from a spoof email, the website will also be designed to imitate the features and layout of the original one. But, here too, keep an eye out for the intricate details like the URL, logo, layout, and also the language. If you feel that the website’s language reeks of urgency, bounce off right away. Also Read: Importance of Cyber Insurance

How to Identify Phishing Attacks?

There are a few common ways that cyber criminals and fraudsters use to lure you in to fall prey to a phishing attack. If you want to stay safe, it is important to be able to recognise these commonly used phishing techniques.

1. Scammers usually resort to creating a false sense of urgency to push you into acting immediately. Doing so may increase the chances of the intended target clicking on links as the attacker intended.
2. You can look for small yet significant discrepancies in the text. For example, there may be spelling mistakes or small changes in the logo design. If you spot any of these, verify the source of the message.
3. If the sender of the email or the message is unknown to you, it is best to be cautious.
4. Look out for the attachments of the message. Usually, they tend to come across as suspicious. Avoid opening or clicking on such attachments.
5. In the case of these messages, the greetings tend to be suspicious looking. The message may use a generic greeting, instead of addressing you by your name or your chosen identity.

Also Read: Risks, Trends, and Challenges for Cyber Insurance in India

How to stay protected against phishing?

Here are some of the simple yet important practices you must employ to keep yourself safe against phishing attacks.

1. Install security software

Ensure that all your devices are protected with security software. If you already have one, then ensure that it is updated to the latest version, so you may get maximum protection. Antivirus or antimalware software can help you automatically scan any messages and files on your device to ensure that they are free of threats.

2. Install firewalls

This is different from installing security software. There are two types of firewalls you should be aware of – a network firewall and a desktop firewall. Of these, a network firewall is usually hardware, whereas a desktop one tends to be software. A combination of these can help you reduce the chances of a phishing attack.

3. Don’t click unknown links

Whether they come to you through a message or an email, or you find them on a website, avoid clicking links without first verifying their safety. If the links appear suspicious, hover over them instead of directly clicking them, as this can help you get more details.

4. Check website security

Before visiting a website, it is crucial to ensure that it is legitimate and safe. Ideally, a website’s address should have an “https://” rather than an “http://”. The former indicates that the site is relatively more secure to use.

5. Get cyber insurance

With cyber insurance coverage offered by top insurance providers today, it is easier to stay protected against phishing and cyber-attacks. A cyber policy ensures that even if you were to face an unfortunate situation where you end up being the victim of an online scam, you would still be financially secure. Also Read: The Role of Cyber Insurance in Mitigating Cyber Attacks

Cyber Insurance Coverage

Yes, you can secure yourself in case a phishing attack is successful. Rest assured that your cyber insurance coverage will pay for the monetary losses due to an attack, irrespective of its nature. Other than this, the cyber security insurance policy will also cover the expenses put in to fight legally within the territory set by the Information Technology Act, 2000. Becoming a victim of such an attack also involves some level of social stigma, due to which, some people might not even report it. However, that is not the right thing to do. You must take preventive measures, and if you get duped or in case of identity theft, get help, and nothing can be more damaging than losing all your money and personal life to scammers and hackers. Avail the cyber insurance benefits , stay alert and be smart. *Standard T&C Apply Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.