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Phishing
(Fraudulent Information Gathering)
Phishing is a cybercrime where targets are contacted by email, phone or text by someone posing as a legitimate institution to lure individuals into providing sensitive PII, banking details, or login credentials. Financial phishing attacks increased 60% in 2022, costing consumers $52 million.
Common financial phishing includes fake bank alerts, IRS refund scams, and fraudulent SEC filings. Advanced "spear phishing" targets executives with customized messages. Protection includes verifying sender addresses (hover don't click), using password managers, and enabling multi-factor authentication. Financial institutions now employ AI to detect phishing attempts, blocking over 90% of malicious emails before they reach customers.
Common financial phishing includes fake bank alerts, IRS refund scams, and fraudulent SEC filings. Advanced "spear phishing" targets executives with customized messages. Protection includes verifying sender addresses (hover don't click), using password managers, and enabling multi-factor authentication. Financial institutions now employ AI to detect phishing attempts, blocking over 90% of malicious emails before they reach customers.