Phishing is a known scam to most people, if not all. In a phishing scam, the Internet users are lured with potential monetary or other gains. Moreover, sometimes they are scared with fear of financial losses. For identifying phishing scams many posts have been written. However, they do not discuss complex multi-party ‘phishing for money scams’, where individuals have lost thousands, corporations have lost millions, and FBI estimates total losses exceeds billions. In this post I explain with illustrations how phishing for your money scam works.
Social engineered email are used to obtain passwords, credit card information, banking information, and many other personally sensitive information. To test your preparedness take this multiple-choice short quiz.
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Phishing emails will not have a subject or heading that says they are a Phishing emails But if you look closely, you can see many tell-tell signs in a phishing email. You may find spoofed email address and spoofed domain name among others. Moreover, they use social engineering.
You know that phishing is a big problem. They attempt to obtain personally sensitive information (PSI) such as banking and credit card details, and password etc., usually for malicious reasons, by disguising as a legitimate entity or business. Let us review some tell-tell signs.
If you want to test your ability to identify phishing emails, then click here to take a quiz.
Suppose part of an email you received from your bank says, “… on Sunday at 6:00 AM money was withdrawn from you account. If you didn’t make the withdrawal, you MUST take security measure now.”
If you didn’t do a withdrawal, the fear of loss of money from bank and unauthorized activity in your bank account are likely to make you act swiftly.