Article Read Time
Phishing scams are the most common origin of data breaches. A more targeted and dangerous version of phishing is spear-phishing. Unlike generic phishing, which casts a wide net, spear-phishing targets specific individuals by using personal details to make scam messages more believable. With the advent of AI, these attacks have become even more efficient and dangerous.
What is Spear-Phishing?
Essentially, spear-phishing is a more advanced and targeted form of phishing. Instead of choosing random, weak targets, attackers tailor their fraudulent messages to a specific individual or organization. Curating their attacks makes each message more personal and, therefore, more convincing.
How do they do it?
Cybercriminals gather information from social media profiles, company websites, and other public records to make their messages appear legitimate. They often impersonate trusted entities, such as colleagues, financial institutions, or service providers, to trick victims into disclosing sensitive information or installing malware on their devices. Spear-phishers also manually stalk, or even use AI to analyze your social media profiles. They use the information gleaned from these public accounts to form closer bonds, thereby making you feel obligated or compelled to wire funds and share secret information.
Case Study: Barbara Corcoran
One notable example of a spear-phishing attack occurred in 2020, involving Barbara Corcoran, a judge on the television show “Shark Tank.” A cybercriminal impersonated her assistant and sent an email to her bookkeeper requesting a payment related to real estate investments. The email address used was similar to the legitimate one, making it difficult to detect the fraud. The scam was only discovered after the bookkeeper contacted the real assistant to verify the transaction, by which time nearly $400,000 had already been transferred.
Public figures aren’t the only ones being scammed, however. Anyone can experience phishing scams. Anyone can become a victim. Caution and double-checking through secure channels can save your data from exposure.
Protecting Yourself from Spear-Phishing
- Be skeptical of unsolicited emails. Always verify the sender’s email address and be cautious of unexpected requests for sensitive information.
- Enable Multi-Factor Authentication (MFA) for an extra layer of security that requires multiple forms of verification before granting access to your accounts.
- Keep software updated. Regularly update your operating system, browser, and other software to protect against vulnerabilities.
- Educate yourself and others. Stay informed about the latest phishing tactics and share this knowledge with friends, family, and colleagues.
- Utilize security tools, such as anti-phishing tools and services, to help detect and block phishing attempts.
- Limit personal information online. Be mindful of the information you share on social media and other public platforms, as this can be used against you in spear-phishing attacks.
Remember, the key to protection is awareness and preparedness. By staying vigilant and taking proactive measures, you can significantly reduce the risk of falling victim to spear-phishing attacks. If a threat actor does target your systems, slow down and reassess the situation before making any rash decisions. Now that you understand the risks and red flags, you can better protect your systems and private data.
Commonwealth Sentinel can assist your organization in staying secure by implementing robust password policies, utilizing practical multi-factor authentication tools, and providing comprehensive in-person cyber training for your entire staff. It only takes one lucky cyber criminal to cause damage, so your team must always remain vigilant. To schedule a consultation, click here or contact us at (502) 320-9885.
At Commonwealth Sentinel, we are focused on cyber security so that you can focus on other things.