Africa: Africa: How to Avoid Getting Hooked By a Festive Season Phishing Scam

Email phishing attacks are particularly popular over the festive season, half because there's an increase in email marketing and appropriate offers linked to the holidays.

During the fourth quarter of 2014, for instance, the number of incomparable phishing attacks globally went up by 18% compared with the third quarter that year, according to the Anti-Phishing Working Group.

A total of 437 brands were targeted and 46,824 incomparable phishing websites were reported, the majority of them hosted in the US. The majority-targeted industries for phishing attacks are retail/service, financial services and payment services.

It seems that during the Christmas period people are probably additional likely to respond to these offers. They as well appear willing to spend additional money than usual. This creates a perfect opportunity for cyber criminals to hook their bait.

But what is phishing and why does it happen? And how can people guard against it?

Identity theft

To begin with, it's significant to understand the practice that lies at the heart of phishing: identity theft. This is a form of fraud in which one person pretends to be someone else to illegitimately benefit at the victim's expense.

Cyber criminals usually acquire the data that they need by stealing a wallet, going through mail, or dumpster diving. They as well target organisations that are in possession of sensitive private data by stealing IDs, back-ups or documentation.

In the US in 2014 there was one new victim of identity theft each two seconds.

In South Africa, identity theft losses all to additional than R1 billion annually according to the Southern African Fraud Prevention Services. In 2014, 3600 cases were reported and it believes that additional than 4000 cases would be reported by the end of 2015.

In the anonymous world of the internet, individuals are uniquely identified by account numbers and passwords which form the basis of online authentication.

Online identity theft happens at the same time as a victim's online identity is stolen by cyber criminals and used for unauthorised purposes that cause financial losses to the victim. Email phishing attacks are an increasingly popular and sophisticated method that cyber criminals employ to get the data they require to commit online identity theft.

Phishing

Phishing is an online identity theft method in which spoofed emails are sent out to lure recipients through embedded hyperlinks to fraudulent websites. Here, cyber criminals attempt to trick online users into divulging personal financial data like passwords and account numbers.

Initially phishing emails and the associated bogus websites where mostly masked as coming from financial services institutions. These were easily identifiable because of poor language and grammar or non-authentic looking copies of websites.

But this is no longer the case. As users grew additional sophisticated, so too did cyber criminals. In recent years they have begun targeting a wider set of industries, using additional authentic looking emails and websites.

A possible solution?

Well-planned phishing websites fool additional than 90% of respondents, while 23% do not notice browser-based security warnings and indicators and 15% ignore these warnings, according to a Harvard University study. Researchers found no correlation between victims' vulnerability and their gender, age, education levels or computer experience.

Keeping yourself abreast of phishing trends is useful. Research recommends these anti-phishing measures as initial steps to protect your online privacy:

be cautious with emails and confidential data;

look for indications that browsers and websites are fasten and legitimate;

employ available security measures; and

keep in mind that at the same time as an offer appears too good to be authentic, it probably is.

We are doing new research to find out how people view the threat of phishing and what steps they take to avoid phishing. The data will help us find ways to improve online security.

Whether you think you're vulnerable to phishing, believe you're well protected or genuinely have no idea, you can contribute to this research by clicking here to complete the survey.

Disclosure statement

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond the academic appointment above.