Phishing

What is Phishing?

Phishing is a method of social engineering by which a hacker sends a fraudulent message designed to trick a person into revealing sensitive information such as credit card numbers, financial information, or otherwise exploitable personal identifying information (PII). Phishing may also be used to trick someone into installing malicious software on their computer. According to the FBI, Phishing is the most common form of cyber attack.

Common Phishing Attacks

Email Phishing

In an email phishing attack, the attacker will send a fake email that appears to be from a legitimate organization, such as a bank or online retailer. The email will typically include a link that, when clicked, will take the victim to a fake website that is designed to look like the legitimate organization’s website. Once the victim enters their sensitive information on the fake website, the attacker can then use it to gain access to their accounts or commit other forms of fraud.

Spear Phishing

Spear phishing is a type of phishing attack specifically targeted at a particular individual or organization. Unlike regular phishing attacks, which are often sent to large numbers of people in the hope that some will fall for the scam, spear phishing attacks are carefully crafted to target a specific individual or organization. This makes them more difficult to detect, as the attacker will typically have done their homework and will be able to tailor the attack to the specific victim.

Whaling

Whaling is a spear phishing attack specifically targeted at high-level executives or other individuals with access to sensitive information or financial resources. The attacker will typically use publicly available information, such as social media posts or company websites, to gather information about the target and create a fake email that appears to be from a legitimate source. Once the victim falls for the scam and provides their sensitive information, the attacker can use it to gain access to the company’s accounts or steal sensitive data.

Vishing

Vishing, also known as voice phishing, is a phishing attack that uses phone calls or voicemails to trick victims into giving away sensitive information. In a vishing attack, the attacker will typically call the victim and pretend to be from a legitimate organization, such as a bank or government agency. The attacker will then try to convince the victim to provide their sensitive information, such as a credit card number or social security number, by claiming that there is a problem with their account or that they need the information for some other legitimate reason.

The Business Impact of Phishing

One of the main impacts of phishing on businesses is the loss of sensitive information. When a phishing attack is successful, the attacker can gain access to a company’s sensitive data, such as financial information, customer data, or proprietary information. This can lead to financial losses, as the attacker can use the stolen data to commit fraud or sell it to other criminals. It can also damage a company’s reputation, as customers may lose trust in the company if they believe their personal information is not being properly protected.

Another impact of phishing on businesses is the loss of financial resources. In some cases, attackers will use phishing attacks to steal money directly from a company’s accounts. For example, an attacker might send a fake invoice that appears to be from a legitimate vendor, and trick an employee into paying it. This can result in significant financial losses for the company.

Phishing attacks can also have indirect costs for businesses, such as the time and resources that are required to investigate and respond to the attack. In some cases, a phishing attack can result in a data breach, which can require a company to notify customers and potentially face legal action. This can be both time-consuming and costly.

Overall, phishing attacks can have serious consequences for businesses, including the loss of sensitive data, financial losses, and damage to a company’s reputation. It is important for businesses to take steps to protect themselves against phishing attacks, such as implementing strong security measures and educating employees about the dangers of phishing.

About Saviynt

Phishing is a method of social engineering by which a hacker sends a fraudulent message designed to trick a person into revealing sensitive information such as credit card numbers, financial information, or otherwise exploitable personal identifying information (PII). Phishing may also be used to trick someone into installing malicious software on their computer. According to the FBI, Phishing is the most common form of cyber attack.

Saviynt EIC includes the following solutions:

Identity Governance and Administration (IGA)

  • Ensures that users have seamless access and your organization is in continuous compliance
  • Increases organizational efficiency and agility through automation and intuitive identity workflows
  • Powered by a comprehensive identity warehouse and user experience to drive frictionless access, Saviynt IGA enables Zero Trust in your hybrid and multi-cloud environment

Cloud Privileged Access Management (CPAM)

  • Provides complete privileged access protection to support ongoing business transformation and scale as your business needs evolve
  • Gain visibility and governance for every identity across your entire environment to improve your security posture and maintain compliance
  • Fast to deploy and easy to manage, so you realize value on day one
  • CPAM can limit users’ actions in the end systems, and session recording provides an auditable record of the activities executed

Application Access Governance (AAG)

  • Protects sensitive application access and satisfies governance, risk, and compliance (GRC) requirements
  • Get comprehensive capabilities in Separation of Duty (SoD) analysis, emergency access management, role engineering and management, compliant provisioning, and access certification

Data Access Governance (DAG)

  • Discovers, analyzes, and protects sensitive structured and unstructured data – regardless of whether your IT ecosystem is on-premises, hybrid, or cloud-based.

Third-Party Access Governance (TPAG)

  • Securely manages third parties throughout the engagement lifecycle
  • Internal and external sponsors shepherd the account from inception through access management, periodic reviews, and eventual decommissioning

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