Phishing Attack Simulation

Phishing attacks are some of the most common forms of cyber threats. Hackers will try to deceive and manipulate you into handing over passwords, financial data, or personal information. 

How a phishing attack works is that cybercriminals pose as trusted sources. This could be a social media platform, banking institution, or even your own company. 

They try to deceive you by communicating a false sense of urgency or employing high-pressure tactics. Once they’ve accessed your valuable information, they may choose to steal your data, money, or identity.

They happen because they are incredibly effective. However, the most common reason for phishing attacks is financial gain. Phishing attacks are the most effortless and profitable way for hackers to infiltrate a system.

During social engineering and phishing attacks, the margin for human error is much higher, so hackers are quick to opt for these tactics. Malicious actors can also use phishing scams to target many people at once. There’s bound to be at least a few that take the bait.

The opportunities to cause havoc are widespread; loss of personal and financial data are the most notable impacts of a phishing attack, but this can evolve into much more. Legal consequences, ransomware attacks, disrupting business procedures, identity theft, emotional trauma, and much more. The ramifications of social engineering phishing tactics can cause serious damage to the reputation and finances of an individual or their organization. 

Cyber security phishing attacks are no longer contained to email scams. You can encounter these threats via SMS texts or even voicemail. Some common phishing attack examples include:

Email phishing attacks: Hackers send out a fake email pretending to be a legitimate source. They may ask you to click a link or provide sensitive information.

Spear phishing attacks: This is a more targeted type of phishing attack. Hackers will collate personal information about you and pose as a trusted entity to seem more realistic. Board members and other ‘high value’ staff are often the typical target of spear phishing attacks.

SMS phishing attacks: Malicious actors will send a text message asking you to click on a link or reveal your personal information.

Voice phishing attacks: Cybercriminals may use convincing voice calls to trick the receiver into handing over sensitive information. With the power of AI, this tactic is even more compelling.

Pharming attacks: In pharming attacks, hackers create fake websites and pose as legitimate sources to steal information.

Whaling attacks: This phishing attack type tends to target high-profile individuals like government officials or top-level executives.

You receive an email from what appears to be your banking firm. They inform you that your account is suspended with immediacy and, to recover your funds, you must re-enter your information on their website. When you click the link, you are directed to a site that looks just like your banking institution. You enter your login details and hand over exactly what the hacker wanted. You granted them access. 

In a spear phishing attack, your experience may be similar. The difference is the hacker has done their research and gotten to know you on a deeper level. Instead of a banking firm, they may pose as your boss, asking you to send over sensitive information or make a financial transaction. 

There are several methods you can employ to protect yourself against the threat of phishing attacks. More specifically, you can: 

• Install anti-phishing software. 
• Verify requests with known sources. 
• Enable multi-factor authentication. 
• Keep software up to date. 
• Avoid clicking on unknown links. 
• Use a phishing attack simulator to test your defenses. 
• Educate yourself on the tactics of phishing attacks. 
• Hover over links to identify the URL before clicking on them. 
• Use strong and unique passcode phrases across accounts. 
• Use a CovertSwarm phishing simulation service to rigorously test your defenses.

If you want to learn how to reduce phishing attacks, you’ll need to learn how to detect them. Make sure to proceed with caution anytime you receive a message that asks you to share your information. 

Are they a trusted sender? Do they use urgent or threatening language? Look out for signs such as unknown emails, suspicious links, impersonal greetings, and poor grammar or spelling (although AI advances are making this harder and harder to spot). 

The success rate of phishing attacks is very high. Around 90% of successful cyber-attacks begin with a phishing email. From ordinary citizens to small and medium-sized companies, and everything in between, hackers target a wide range of people. In fact, the cost of a successful phishing attack can set a mid-sized company back around $1.6 million. That’s an awful lot of money for something that can be easily avoided with a simulated phishing simulation exercise.

If you receive a phishing email, do not click any links, download attachments, or exchange sensitive information. Instead, hover over the sender’s URL to verify its legitimacy. Report the email to your IT department for further investigation and always verify the request with a known source, such as your superior or financial institution.

If you do think your security has been compromised, you should change all passwords as quickly as possible and monitor accounts for suspicious behavior. Above all, stay vigilant.

Phishing and spear phishing are similar forms of cyber attacks. They use the same tactics to trick you into divulging your information. Phishing scams tend to be sent out on a larger scale using basic social engineering techniques.

However, spear phishing is more targeted and, therefore, more convincing. They use personalized information about the target to craft a compelling message and plan of attack.

Almost everyone has some information about themselves on the internet waiting to be exploited. A quick search on social media and we can find out your full name, location, and perhaps your family members. If we look on LinkedIn, we see your company, role, and past experiences. If your Instagram is not private, we may even see which cafe you visited, or the golf course you were playing at last week. You would be surprised at how much hackers could find out about you if they tried.

In most countries, carrying out a phishing attack is illegal and comes with serious consequences, such as fines or imprisonment. However, most phishing attacks don’t end with legal action. Their actions are untraceable.

Unethical hackers are cybersecurity experts; they just sit on the wrong side of the fence. Although there are legal consequences to deal with, the reality is that law enforcement will rarely pursue these types of attacks.