Phishing attacks have become a common method for cybercriminals to steal sensitive information, and they’re more sophisticated than ever. These scams go beyond suspicious emails – scammers have begun attacking through phone calls, text messages, even spoof social media accounts. But it’s not all doom and gloom – knowing how to spot these threats can help prevent you from falling victim to these increasingly sophisticated attacks. We’ll break down the most common types of phishing, how to identify them, and how to keep yourself safe.
What is phishing?
Phishing is a form of cyberattack where scammers pose as legitimate entities, such as banks, government agencies, or large companies. Their goal – tricking you into providing personal information, such as passwords, credit card numbers, or Social Security numbers.
But sometimes, it can entail more than just stealing personal information. Scammers can also attempt to install malware on your device, try to have you to initiate financial transactions, or try to gather information on another target. This can take shape in the form of Amazon gift card phish scams, fake invoices, or Crypto scams.
While email phishing is the most well-known method, there are several other forms of phishing to watch for to keep your personal information secure.
Common types of phishing, and how to spot them
Email phishing
With these attacks, you receive an email that looks like it’s from a well-known, trusted company, asking you to click a link or download an attachment.
Red flags:
Spear phishing
A type of email phishing, spear phishing is a more targeted attack, where scammers personalize the message with your name, job title, or company information to appear more convincing.
Red flags:
Vishing (voice phishing)
Instead of an email, a vishing attack involves a scammer calling pretending to be a bank, government agency, or tech support, asking you for sensitive information or prompting you to act urgently.
Red flags:
Smishing (SMS phishing)
In this attack, fraudulent text messages may claim you or your account has an issue that needs to be resolved, or that you may have won a prize, and is accompanied by a link to fix the problem or claim your reward.
Red flags:
Social media phishing
With social media phishing, scammers will create fake social media accounts impersonating companies or individuals, either famous or even people you know in real life, with the goal of tricking you into sharing sensitive information or clicking malicious links.
Red flags:
How to protect yourself
Verify the source: if you receive a suspicious email, text, or call, don’t click links or provide information. Contact the company directly using their official website or phone number to verify anything you may need.
Check URLs and email addresses: hover over links to preview the destination URL. Look for misspellings or extra characters that the scammer may have tried to hide in the link. When in doubt, type the web address manually – this can help catch odd letters. Alternatively, use a search engine to validate the URL.
Enable multi-factor authentication (MFA): this step adds a layer of protection by requiring a second form of identification (like a text code) to access your accounts. This means that if you do accidentally click one of these malicious links, you will still have an extra layer of security in place as a fail-safe.
Be skeptical of urgency: scammers rely on cultivating panic in their victims. Legitimate companies don’t threaten or pressure you into quick decisions.
Report phishing attempts: forward phishing emails to phishing@ftc.gov and report vishing or smishing attempts to your phone carrier or the FTC. In addition, many email providers feature a phishing reporting tool directly in their app, making reporting and helping fight back against these scammers easier than ever.
The importance of remaining vigilant
As you can see, phishing attacks come in many forms, but the goal is always the same – to steal your personal information. Recognizing the red flags of phishing and staying vigilant can help you avoid falling victim. By verifying sources and information, thinking calmly and critically about urgent requests, and using protective measures like multi-factor authentication, you can safeguard your information effectively. Staying informed is your best defense – when in doubt, always pause and verify.
How Minnwest Bank supports your security
Our mobile banking app puts your accounts at your fingertips, allowing you to monitor transactions and set up alerts for any unusual activity. The Secure Alerts service provides an added layer of protection, notifying you of any potentially fraudulent transactions.
What to do if you suspect fraud
If you ever suspect a scam, contact us immediately. Your vigilance is a powerful tool in combating fraud, and we're here to assist you every step of the way.
At Minnwest Bank, we’re partners in your financial journey, and we're committed to helping you keep your accounts safe. With the right knowledge and tools, you can keep yourself safe from these rapidly evolving scams. If you have any questions or concerns, please don't hesitate to reach out.