Phishing Attacks: How Hackers Trick You into Giving Up Your Data

Phishing: A Deceptive Cyberattack Technique

Phishing is a cyberattack technique in which an attacker uses fraudulent emails, text messages, phone calls, or websites to trick their target into revealing sensitive information. This stolen data can then be misused against the victim. Sensitive information may include social privacy details, personal information, and even banking credentials.

Phishing attacks fall under the category of social engineering, where the attacker does not need to directly hack a server or system. Instead, they exploit human error, psychology, pressure tactics, and manipulation skills to deceive their targets.

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Why phishing is a major cyberthreat

Phishing is popular among cybercriminals and highly effective. According to IBM's Cost of a Data Breach report, phishing is the most common data breach vector, accounting for 15% of all breaches. Breaches caused by phishing cost organizations an average of USD 4.88 million.

Phishing is a significant threat because it exploits people rather than technological vulnerabilities. Attackers don't need to breach systems directly or outsmart cybersecurity tools. They can trick people who have authorized access to their target—be it money, sensitive information or something else—into doing their dirty work.

Phishers can be lone scammers or sophisticated criminal gangs. They can use phishing for many malicious ends, including identity theft, credit card fraud, monetary theft, extortion, account takeovers, espionage and more.